Marina Projects is to head the development of a new marina in Cyprus following the signing of a concession agreement.

Paralimni Marina will be developed by PMV Maritime Holdings in association with Marina Projects that has been working alongside the directors of PMV since the announcement of the Concession contest in June 2015.

“I am delighted that the Concession Agreement was signed yesterday by the Minister and we look forward to working closely with PMV Maritime Holdings on this exciting project,” said Geoff Phillips, Marina Projects executive chairman.

Marina Projects produced the concept design for the winning bid and will be actively involved as the development is taken through the detailed design and construction stages. Following completion Marina Projects will also be engaged for the ongoing management and operation of the marina.

The Paralimni Marina scheme is a mixed-use waterfront development incorporating 195 apartments, 27 commercial units, a yacht club and visitor facilities together with a 300-berth marina for vessels up to 25m in length.

It is due to be fully operational in 2021 and will be the first dedicated leisure marina to be located on the Protaras coast.

The agreement was signed by Cyprus’s Minister of Energy, Commerce, Industry and Tourism, George Lakkotrypis and PMV Maritime Holdings.

Source: http://www.boatingbusiness.com/news101/marinas/marina-projects-to-lead-the-development-of-a-new-marina-in-cyprus