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  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

  • 3 September 2019 Home plan from tomorrow for 10 thousand borrowers

    After months of discussions, the Home Plan is being implemented from tomorrow... read more

  • 2 September 2019 July property sales hold steady Update

    The number of Cyprus property sales during July was the same as the number... read more

  • 29 August 2019 Cyprus real estate market review 2018

    In its annual Cyprus real estate market review, PwC reports that the... read more

  • 19 August 2019 Building permits authorised for 907 new homes

    Building permits authorised in Cyprus during May 2019 provided for the... read more

Cypriot Investment Scheme
Repossession Property Yield Properties

Latest news

  • 10 September 2019 Many Home dwellers few are the first borrower applications

    Implementation of the Home plan has not begun with the best odds, as... read more

  • 3 September 2019 Home plan from tomorrow for 10 thousand borrowers

    After months of discussions, the Home Plan is being implemented from tomorrow... read more

  • 2 September 2019 July property sales hold steady Update

    The number of Cyprus property sales during July was the same as the number... read more

  • 29 August 2019 Cyprus real estate market review 2018

    In its annual Cyprus real estate market review, PwC reports that the... read more

  • 19 August 2019 Building permits authorised for 907 new homes

    Building permits authorised in Cyprus during May 2019 provided for the... read more

Tender process launched for Larnaca marina

   

THE LARGEST marina in Cyprus, hosting up to 1,000 boats, is envisioned in the terms of a tender process for the development of the Larnaca marina and port, opened earlier this week. The first phase of the process calls for submissions of interest by prospective investors. According to the terms, submissions may be filed until February 3, 2017. A month later, the Transport ministry will notify those deemed eligible, who will then be asked to submit bids. The successful bidder is expected to be selected by August 2017. The area to be developed has a total 510,000 square metres, which includes the Larnaca marina and port, as well as the undeveloped surrounding area. The new marina could have a capacity of 1,000 berths (the current marina can hold 350 boats), while the land around it has been estimated at 98,000 sq.m., with a building coefficient of 40 per cent. According to the terms of the process, the port area is split into two. The northern part will be slated exclusively for port operations, while the southern part will cover an area of 185,000 sq.m., with a building coefficient of 120 per cent. General terms for the development allow for construction over 260,000 sq.m., up to 15-story structures. Investors will have the option to build residences, shopping areas, offices, restaurants, recreational or sports venues. Interested investors who make it to the next stage will be required to submit a detailed business plan, which should include a development plan, a masterplan, adequate funding commitments, and a binding offer for the concession of the area. Eligibility criteria include minimum annual revenues of €30m over the last three years, before-tax profitability, debt repayment for two of the last three years, and €50m worth of net assets for the last financial year. Technical criteria requirements call for interested parties to prove having participated by at least 45 per cent in the operation of a marina hosting at least 300 boats, evidence of the operation of a container terminal with capacity of at least 350,000 tons, and evidence that they have led the development and commercialisation of a project worth at least €75m and a construction area of at least 20,000 sq.m. 

Read more at: http://www.news.cyprus-property-buyers.com/2016/11/26/tender-process-launched-larnaca-marina/id=00151877
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