The Paralimni Marina project is running about a year behind schedule, with delays in obtaining construction materials and shortages of workers and specialised subcontractors cited among the main causes.
PMV Maritime Holdings Ltd, the contractor and operator of the marina, is working to complete the development as quickly as possible. The project is considered one of the most significant developments undertaken in the government-controlled Famagusta district.
A major labour shortage has recently been addressed through the recruitment of workers from third countries, primarily Egypt and India.
First boats expected next year
PMV Maritime Holdings Executive Director Anthoulis Kountouris told Politis that the marina's port works have been completed.
Installation of the floating docks and services within the harbour basin, including electricity and water supplies, is now under way and is expected to be completed by the end of 2026.
The marina is expected to begin receiving its first recreational boats in early 2027, before the summer season.
Buildings intended for government services and the fuel station have already been connected to electricity and are ready for use, while work on the marina's administrative offices has also been completed.
Commercial units and restaurants are expected to be handed over to their operators in early October, allowing businesses to begin preparing their premises.
First apartments due by end of year
The first phase of the project's residential development comprises three residential buildings containing a total of 44 apartments.
Construction is expected to be completed by the end of 2026, with the units beginning to be handed over in early 2027.
The remaining residential development, comprising a further 33 apartments, is expected to be ready next summer.
At that point, the entire construction project is expected to be completed apart from the hotel.
Materials delayed by six months
Kountouris said delays in receiving materials from abroad had significantly affected the construction timetable.
Suppliers of the floating docks alone were approximately six months late in delivering them, he said.
Kountouris attributed the delays partly to the steep increase in the prices of construction materials worldwide, which also affected their availability and supply.
Imported materials required to complete the residential units were also delayed.
Labour shortages compounded delays
The contractor also faced what Kountouris described as an even more significant problem: a shortage of workers and specialised subcontractors.
Approval to employ workers from third countries proved crucial in addressing the shortage, with personnel recruited particularly from Egypt and India.
Taken together, the supply-chain difficulties and labour shortages have left the overall development approximately one year behind schedule.
Luxury hotel with 50 suites
A luxury hotel containing 50 suites is also included in the wider marina development.
Construction of the hotel has begun and, barring unforeseen circumstances, is expected to be completed in summer 2028.
Kountouris said PMV Maritime Holdings is also in discussions with an international hotel management chain over the possible operation of the hotel.
