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Paphos Marina is finally given a go ahead.

Date: 22/12/15

Aristo Developers have announced that on the 21st of December 2015 the Supreme Court of Cyprus awarded the tender for development of the long awaited project on the Paphos Marina to the joint venture POSEIDON GRAND MARINA.

This is brilliant news for Aristo Developers, who are a large shareholder of the joint venture POSEIDON GRAND MARINA. The Court’s decision at long last brings an end to years of legal wrangling over the Marina project at Potima Bay in Kissonerga. 

The long overdue Marina project is sure to be a powerful catalyst of positive change in the property market in and around the Marina. It is certain that high net worth sailing enthusiasts often chose to buy property outside the Marina itself which will be lease hold only. Freehold deeded property in  Coral Bay, Sea Caves, Peyia, Tala and Kamares seem like natural alternatives for such buyers with travel times to their luxury yachts only 10 minutes by car.

Mixed use projects such as the Paphos Marina will certainly give a great boost to the local economy, including the local property market where prices bottomed out in 2015. 

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