The foundation stone for the Limassol Marina, which started few months ago, will be placed shortly. The ceremony has been scheduled for September 7 and the number of guests will be small. The foundation stone will be placed by the President of the Republic, Demetris Christofias.

The project is one of the biggest on the island and aims to strengthen Cyprus’s position in the map of quality tourist destinations. It is expected to cost around €350 million and according to the Company, it will be ready to accept the first vessels in autumn 2012.

It will comprise of 280 units, housing, trading, leisure and cultural that will cover a land of 100 thousand square meters, while the sea land will be of 170 thousand sq. meters and will be able to host up to 1,000 vessels.

The business firms participating in the Limassol Marina Ltd are Cybarco Plc, Frangoudi & Stephanou Ltd, Ioannou & Paraskevaides Ltd, J&P Avax SA, Athena ATE, Limassol Marina Development Company and CADS Holdings Ltd.

Despite the difficulties of the times, Limassol Marina Ltd said that there is already an interest in the Group’s flats, the price of which starts from €430 thousand for the one-bedroom and exceeds €2 million for the three-bedroom. The flats will be delivered by November 2012.

In her statements to StockWatch, Head of Public Relations, Sophia Paraskeva said that interest in the anchoring of the 1000 vessels has been expressed by businessmen from Russia, Israel, the Arabic and Scandinavian countries. Tariffs have not been determined yet.