January 2017 was a memorable date for Protaras since the contracts for the construction of a modern and spacious marina were signed. According to representatives of the local authorities, construction work will start by the end of 2017, and within three years the marina will be open to the public.
A project of such proportions, with an estimated budget of around 110 million Euros, is of immense significance for the local community, both financially and socially. The marina will be able to host around 300 vessels, while all around it several other development projects have already been planned, including houses, hotels, and touristic and commercial infrastructure.
To be sure, Protara’s newly constructed Marin will greatly benefit both the local resort and the general area of Paralimni, in several different ways. Consider the following four basic reasons.
1. Increased Interest from Investors and Real Estate Buyers
Protaras is already widely famed as an excellent destination, not just for summer escapes but also for permanent residence – especially among pensioners and well-off entrepreneurs from member states of the European Union, Russia, China and elsewhere.
Such developments apparently attract the interest of real estate investors and buyers, who foresee the vast prospects of the territory and wish to capitalize on future price increases on properties, apartments, shops and recreation centers.
2. Touristic Development
There is no doubt whatsoever that the new marina will attract even larger crowds of tourists in the area, which already is rather popular among Europeans and Asians alike. Combined with the stunning natural beauty, the golden sandy beaches, the emerald waters and the excellent cuisine, Protaras’ Marina will boost local tourism development not just by increasing the number of visitors, but also by attracting people of elevated social status, which always plays a key role in securing a stable rise in touristic growth. Nautical tourism, in particular, is considered one of the best subdivisions of touristic development a coastal area can ever host.
3. Economic Development
After reviewing the reasons mentioned above, the next one seems the unavoidable stage of a chained reaction. The increased interest showed by all kinds of investors, and the ever growing numbers of well-off tourists and visitors will surely bring along a steady rise in revenue, especially from overseas. The subsequent financial growth will speed up new construction projects, boost competition, and force businesses to further improve their services, prices, accommodation, etc. This, in turn, can only further augment economic growth in the area.
4. Upgrading of the Whole Area
Last, all the above can only result in the overall improvement of the entire area, in all aspects of Protaras’ social, financial, cultural and touristic life. Naturally, everything will have to change for the better, of daily living quality, services, accommodation, food, telecommunications, transportation, property prices, and so forth.
The new Marina is scheduled to be ready by the end of 2020, but the benefits for the local economy and community are already evident. The area has caught the eye of property investors, businesses are already making plans for expansion, and the already excellent touristic infrastructure steams up its engines to keep up with upcoming developments.
The best thing about Protaras is that this project will not be the foundation of its great development, but its crowning jewel. The place already boasts stunning physical beauty and attracts thousands of tourists every year, most of whom are pleased returning visitors. Wish to know why? Check out our villas for sale and buy now the one that suits your budget and lifestyle.Back to News