CONSTRUCTION WORK on the Limassol marina is in full swing, with plans to build a new marina and waterfront on schedule for the autumn 2012 launch date, said a statement by Limassol Marina Ltd yesterday.

According to the announcement, the companies Joannou and Paraskevaides Ltd, J&P-AVAX  S.A, ATE Athens and Cybarco have begun work on construction for the mooring of yachts and development of residential, commercial and cultural buildings earmarked for the €350 million project.

Dredging work has already begun in the sea area of the marina, with the use a floating crane to remove various materials from the seabed. Construction work is also continuing on the new waterfront and the provision for access to the southeastern breakwater.

The roof of the Trakasol warehouse has been removed while restoration work is continuing for the transformation of this space to host the Hanseatic Nautical School and cultural centre. Work has already begun on the car park, which will accommodate 700 vehicles, as well as the luxury apartment complex Nereids Residences.

“The Limassol Marina is a landmark project which will put Cyprus on the nautical yachting map,” said the statement.

Limassol Marina is an exclusive waterfront development combining luxury residences with a marina and a mix of boutiques, restaurants and shops.

Estimated to cost more than €350 million, it will be able to accommodate all types of vessels from sailing yachts to mega yachts, ranging in length from 8m to 100m and will feature a dry dock for light repairs and maintenance.

The marina is expected to welcome the first yachts in the autumn of 2012. It is a stone’s throw from the city’s old harbor and historic centre around the medieval castle. According to its creators, “it is destined to become the most exclusive marina resort in the Mediterranean and one of the finest in the world”.