Larnaca Port and Marina’s €1.2 Billion Redevelopment

Harneys Cyprus has acted for the sponsors, a Cypriot and Israeli joint venture by Alexandrou Corporate Services Ltd and Eldeman Holding B.V. in relation to the redevelopment of the Larnaca port and marina.

On 4 December 2020, the highly anticipated concession agreement for the redevelopment of the Larnaca port and marina was signed at a prestigious ceremony held at the Presidential Palace in Nicosia, attended by the President of the Republic of Cyprus, Nicos Anastasiades. The €1.2 billion project is one of the largest projects taking place in the Republic of Cyprus.

The marina promises the latest technological infrastructure, with the capacity for large vessels, the expansion of piers, docks and the development of a sizeable passenger terminal. The port development will include a new terminal for cruise ships.

The consortium’s plans for the project also incorporate an internal road network, green areas and event spaces, plus education and medical facilities.

On behalf of the Israeli investors, Executive Director of the Jordache Group of Companies, Avi Hormaro, said that they are ready to proceed with their working groups and ensure that they deliver the project on time and without delay.

The Executive Director of the contractor company Kition Ocean Holdings Ltd, Panayiotis Alexandrou, said that the goal is to create a highly functional port that will respect the environment and the area and the creation of one of the most modern and beautiful marinas in the Eastern Mediterranean which will accommodate more than 700 boats of all sizes.

Alexandrou Corporate Services offers assistance with all aspects of offshore company formation, nominee services, virtual offices in Cyprus and bank accounts with the worlds leading financial institutions including online banking, credit and debit cards, as well as, cheque books.

The Harneys team included Pavlos Aristodemou (Picture) and Theodoros Zafiropoulos.

Involved fees earner: Pavlos Aristodemou – Harneys; Theodoros Zafiropoulos – Harneys;

Law Firms: Harneys;

Clients: Alexandrou Corporate Services; Edelman;

Print Friendly, PDF & Email