LIMASSOL MARINA

Limassol, Cyprus Client: Limassol Marina Ltd.

January 13, 2017

Limassol, Cyprus

Client: Limassol Marina Ltd.

The project concerns the construction of the new Limassol Marina with a capacity of 655 yachts of various sizes up to 100m long, and a real-estate development of 45,000sq.m. of buildable area (commercial, multi-storey car park, multi-storey apartment’s buildings, villas, administration building, and boat repair yard).

Services provided:

Independent Engineer services (J/V SALFO-MARNET) on behalf of the concessionaire (Limassol Marina Ltd.) and the lender (Bank of Cyprus plc.), including:

  • Detailed design review and approval
  • Supervision of construction and testing on a daily basis
  • Quality control
  • Auditing and approving of the Design and Construction Time Schedule and the associates Payment Schedule
  • Certification of EPC Contractor’s payments
  • Issuance of Work’s Completion Certificates.
  • The project also included a Technical Due Diligence during funds’ seeking (Lenders’ Technical Advisor)

Budget of works (EPC contract):

272,000,000 €, out of which:

–  Marine works: 130,295,390 €

–  Real estate development: 135,704,610 €

–  Studies/ Services: 6,000,000 €