Terna signs Cyprus marina deal for 164 mln euros

Construction company Terna, a subsidiary of GEK TERNA, has been awarded the second phase of the construction of the luxury development in Ayia Napa Marina in Cyprus, in a deal worth 164 million euros, it said Monday.

The project includes a variety of residential, commercial and cultural uses, the company said in a statement. Terna has also been awarded the first phase of the project which is currently being built and includes the construction of the marina with a 600 berth, infrastructure and building facilities.

The 2nd phase includes the construction of two towers, a complex of villas and commercial buildings. More specifically, the two 27 and 28 floor towers will exceed 115 meters high, and will house luxurious apartments. The commercial buildings, to be located in the heart of the Marina, shall consist of a mix area for retail, food and beverage purposes along with an events center and a parking.

This new project strengthens the group’s current backlog which reaches approximately 1.8 billion euros.