New Marinas Overseas

According to my sources, the Cyprus authorities have announced that it is planning to build two new marinas in the Phapos region strating in 2008, but this has yet to be confirmed by the Cyprus Port Authority.

The government is keen to improve the islands tourism and the two marinas are planned to be at Phapos and Latsi harbours. The situation seems slightly confusing as the port authorities seem to have little or no idea of the plans, nor indeed the how the government is proposing to acquire the land required in order to build the marinas!!

In the longer term the government is planning to have four main ports on the island, including Limassol, Larnaca, Paphos and Ayia Napa, with smaller “marinas” spread along the coast from Polis Chrysochous to Protaras.

Whether these plans will go ahead we will have to wait and see, but clearly the government is committed to improving both the number and quality of marinas currently available so we will have to wait and see what happens. If anyone has any news on the above I would be delighted to hear from them so that I can provide any relevant updates. As soon as I receive any more news I will post the information here.

One of our boat leasing clients has recently moved his new boat to Cyprus so I will see if I can get more news from him.

Those of you who recognise the name of businessman, property developer and entrepreneur Peter de Savary, will immediatley be aware of three things. Firstly that he is a keen sailor in his own right having led the British team in its challenge to win the America’s cup in 1983, secondly that anything he does is on a big scale, and finally that his developements offer exceptional investment returns. The marina resort being planned in Grenada will be no exception to the rule, in my view.

Grenada is one of the Southern most of the Windward islands stretching from Antigua in the North, to Trinidad and Tobago in the South and is typical of the Windwards in its tropical beauty. The island is often referred to as the spice island due to the pungent aroma from the many spices grown on the island, but sadly this export market is now in rapid decline. Lush and green, it has towering mountains covered in dense rainforests, and the coastline is dotted with inlets and bays lined with palms and white sand beaches. Grenada’s capital St George’s is the prettiest harbour town in the whole of the Caribbean ( in my opinion!!) Along with the Grenadines these islands are among theworld’s top sailing destinations. The islands are extremely beautiful, dramatic yellow and grey green with schools of dolphin to keep you company. Next year the Grenada sailing festival takes place on the 25th - 29th January, when crews from around the world compete in a variety of events.

Unlike many other destinations in the Caribbean, this is truly an all year round getaway, as (unlike many other destinations), the island lies outside the hurricane belt. Temperatures hover around the mid 80’s throughout the year, and with the cooling trade winds the climate is one of the most desirable in the world - very different to some of the Northern Caribbean islands. Grenadians have chosen to retain the best of their strong French and British influences whilst preserving all that is distinctive from their own West Indian heritage. Facilities are modern and efficient as can be expected from such a progressive country, built today on education and stability.

The develepment itself is costing in excess of 500 million US dollars and is based on the marina resort model, so popular in the Caribbean and the Far East. In this case it is planned to have an “Italian twist”, as the development has been modelled on the stunning port of Portofino in Italy ( if you have never been please do go - you can sit and watch the celebrities as they arrive for lunch on the waterfront in theis superyachts!) . Based around the capital St George’s, those lucky enough to live here will have panaromic views to Pandy Beach, the white sandy beaches of Grand Anse Beach, and breathtaking sunsets over the crystal clear waters of the Caribbean.

The marina itelf will have between 300 and 350 berths, and will be able to accomodate mega-yachts up to 100 metres in length. The marina has been designed within an exisiting lagoon providing a safe and secure anchorage. The development includes a variety of 3000 sq ft luxury waterside appartments, hillside apartments with spectacular views, and 34 luxury villas of 6000 sq ft plus, along with many shop, restaurants, a 35,000 sq ft spa facility, and several 5 star hotels.

As with many other islands which are now looking to encourage inward investment, the Grenadian authorities have designated this development a freeport, which will therefore provide the opportunity for tax free shopping.

Getting there is very easy, with direct internatinal flights from Europe and from North America arriving at Salines airport on the Southwestern tip of the island. With St Georges only 10 kms to the North, you should be on your boat within the hour, assuming you don’t stop off at one of the many waterfront bars for a rum punch en route.

As always, as the development takes shape I will update the site with more information as it becomes available, and remeber if you are looking to finance your boat or yacht please have a look at my other site - yacht boat finance