The chairman of the Paphos Commerce and Industry Chamber Andreas Demetriades said that the development of the Paphos marina will have a positive multiplier effect on all other sectors of the local economy, according the Cyprus News Agency (CNA).
He added that the marina which will accommodate for more than 1000 yachts will increase Papho’s tourist product as it will attract more and new tourists from neighboring countries.
According to Demetriades the Marina will be built in a 155 thousand square metres of land from which 40 thousand will be used for residential purposes.
The marina will be built in the area of Potima between Kissonerga and Pegeia and it is expected to satisfy the increasing demand form yacht owners from Greece and Asia Minor, according to Demetriades.
Last week the Supreme Court excluded the joint-venture Cybarco-Pandora from undertaking the Paphos Marina project and initiated negotiations with the second in line successful applicant Poseidon Grand Marina joint-venture, in which Aristo developers is a major shareholder.