Limassol hopes for yachts of cash with its revamped marina

Peninsula Villa, Limassol Marina, Cyprus, €3.5m
Luxury superyachts and Cyprus are not two words you would normally associate with each other in the Mediterranean’s troubled economic climate.
And yet there are remarkable signs of returning prosperity to Cyprus, most obviously at Limassol Marina on the south coast of the island, which opened last year. It’s the first superyacht marina in Cyprus and aims to compete with the Cote d’Azur.
Construction started in 2010 and its waterside residences, Peninsula Villas, have been completed.
Sixty per cent of the owners here are Russian, while 30-40 per cent of overseas buyers are motivated by the perk of full Cypriot citizenship that comes with a €5m investment.
The two, three and four bedroom villas have sea views, a swimming pool, garden and parking, with on-site facilities such as a fitness club and restaurants.
The marina development comes at an appropriate time for the region, which is reportedly seeing a rise in the number of visiting yachts. “We are actually very fortunate to be located at the crossroads of three continents, and amidst all these renowned destinations, so we do feel the benefits,” explained Andreas Christodoulides, CEO of Limassol Marina.
The stunning Troodos mountain range is just a 40 minute drive away or residents can grab a sushi platter on site. Equally, they could snap up an Armani jacket at an upmarket boutiques or walk ten minutes down the road to Limassol’s Old Town. Not that visitors and buyers would necessarily have their eyes on the past, with ultra-modern villas and state-of-the-art gadgetry at the marina. The villas have Italian marble floors, fully-loaded kitchens and smartphone-controlled floor heating and air conditioning with a concierge service to cater to every whim. There are 650 berths for yachts up to 110m and 236 residences – 74 of which are villas. Luxury apartments and penthouses are also available at Nereids, Thetis and Dioni residences, all of whichhave sea views and a guaranteed berth.
Limassol Marina’s marketing manager Sophia Paraskeva said buyers included 14 different nationalities with the majority Cypriot-Russians and just two British customers so far – a couple of London-based Cypriots.
“The impact the marina has had on our town, the local community, our position on the world yachting map and our island’s image abroad in just one year has been staggering,” said Paraskeva, “especially when you consider the uncertainty in Cyprus as we drifted into 2014.” Call +357 25 020 020 or email limassolmarina.com

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