The construction of the long awaited port and marina development in Larnaca is expected to finally get underway in January 2012, along with other improvements to the area which should make the town an even more popular tourist destination and in turn drive demand for property in the region, according to a report in InBusinessNews.
Located on the southern coast of Cyprus, Larnaca is the island's second largest commercial port and an important tourist resort. The island's largest airport, Larnaca International Airport, is situated on the outskirts of the city.
The marina-led development, which is expected to cost in the region of £175 million, will have a capacity of between 800 and 1,000 boats, a new hotel, retail and open green spaces, restaurants, cafes and new build homes – mainly apartments.
Additional plans include the construction of a modern Olympic standard shooting range and improvements to a local street that runs along the coast from the Larnaca Fort.
Another marina is also being built in Limassol, which is scheduled for completion by the end of next year.
To read our guide on buying in Cyprus, click here.