Egyptian investor Naguib Sawiris has joined hands with Cypriot entrepreneur Gerasimos Caramondanis to launch a €220 million ($246 million) mixed-use residential and commercial project in Ayia Napa district in the island of Cyprus.

The project will boast of 190 spacious and deluxe apartments in two iconic, twisting towers, 29 luxury villas, a 600 berth full-service marina and boatyard and a collection of elegant retail, waterfront dining and premium lifestyle amenities for both residents and visitors.

With the laying of the first cornerstone today (October 19), the Ayia Napa Marina development has officially started construction.

The waterfront development is the realisation of the dream and vision of Sawiris and Caramondanis, who joined forces to implement a long-term strategic plan aiming to set a new standard for luxurious sea-front marina living with an added benefit of having permanent residency in Cyprus through investment. It is scheduled for completion in 2021.

"We are not just building a place to live - we are launching a new era in modern beachfront living, remarked Sawiris.

The project has been designed by SmithGroupJJR, a US-based architecture, engineering and planning firm internationally recognized as experts in waterfront design.

“Each luxury residence will feature uninterrupted panoramic views of the Mediterranean paired with comfortable, spacious living space. We will exceed the expectations of our residents and our guests and not only transform the Cyprus skyline but change the way you think about Cyprus,” he added.

Stavros Caramondanis, the chief executive of Ayia Napa Marina, said: "Cyprus is a safe haven blessed by beautiful nature, year-round sunshine, modern infrastructure, a high standard of living and a genuine culture of warmth and hospitality, strategically located in the eastern Mediterranean at the crossroads of three continents - Europe, Asia and Africa."

"Fully compliant with EU laws and regulations, Cyprus’s simple and transparent tax system is one of the most attractive in Europe," stated the top official.

"Its modern legal system, based on English Common Law, is widely recognized as being effective and business-friendly. The modern, competitive and simple business environment coupled with a high quality of life make Cyprus an ideal place for both visitors and investors," he added.

The Residences

Rising high above the marina are two iconic towers, visible from both land and sea. Over 100 m tall, the towers stand out in splendour like beacons welcoming seafarers, residents and visitors alike, said the developer in a statement.

Their twisting forms are inspired by the caryatids and sculptures found at archaeological sites throughout Cyprus.  Their facades are articulated with a latticework of warm-toned vertical sunshades suggestive of the woodcraft and detail of ship-building, it stated.  

Both towers have T-shaped plans that twist approximately 1.6 degrees per floor, rotating west to east as they ascend to take full advantage of the breath-taking panoramic views of the Mediterranean, the marina and coastlines stretching in either direction. The highest floors are oriented towards the east, overlooking spectacular beaches.  

The two towers have a total of 190 luxury apartments between them, ranging from a mix of 1, 2, 3 or 4-bedroom residences, to full-floor penthouse apartments at the top two levels of each tower that feature 360-degree panoramic views.

Twenty-nine luxury villas are located along privately maintained and secured roads on the marina island and the peninsula. Each lot includes significant space for landscaped gardens. Of these, 11 fan out around a beautiful crescent-shaped man-made beach of fine-grained sand; while the other 18 Peninsula Marina and Island Villas directly overlook the marina and feature walk-out access to secure docks, it stated.

The villa architecture is a contemporary expression of new and old, combining locally quarried stone around the base with sleek plaster volumes cantilevered above.  Large expanses of glass are optimally placed to promote the breath-taking views around the villas.  European façade panels are used to introduce warm but modern contrasting colours.  

All villas are designed with a modern, open-plan concept, with primary spaces oriented towards the sea.

The Marina

The marina hosts approximately 600 yachts in wet and dry slips. The unique aspect of the marina is the finger style berthing for yachts of 30 meters or less while floating docks assure comfortable access in all conditions. The marina basin has depths of 3.5 to 6.5 meters to accommodate the deep drafts of sailing boats and super yachts.

The key amenities include comfort stations with showers and WC, internet access, a dedicated crew lounge, a yacht club and beach club. A supermarket, shopping and dining experiences are located just steps away in the Pyare Village the commercial centre and hub of the marina.

Set in a semi-circular basin reminiscent of an island harbour, Pyare Village has a scenic waterfront with a pedestrian promenade. Shops, cafés, restaurants and recreational activities create a bustling harbour-side atmosphere and make it the heart of entertainment for shopping, dining, and leisure.-TradeArabia News Service