The completion of the 350 million euro project has been hailed as evidence of an economic bounceback in Cyprus

The president of Cyprus, Nicos Anastasiades, has officially opened the 350m euro (£277m) Limassol Marina.

At the launch event last week, Mr Anastasiades praised the “the vision, commitment, hard work and perseverance” of the seven companies that worked together to complete the job.

With 650 berths, Limassol marina can accommodate motorboats and yachts up to 115m long, while shoreside options include restaurants and bars, as well as 162 apartments and 74 villas.

Marios Lanitis, chairman of Limassol Marina, hailed the launch as evidence of an upturn in the Cypriot economy, which is predicted to return to growth in 2015.

He added that the marina was the biggest and most ambitious infrastructure project in Cyprus, and should create news jobs in the area and draw more visitors to the historic centre of Limassol.

So far 130m euros of property have been sold in the new development, and high street chains such as Wagamama, Pizza Hut and Caffe Nero have opened Limassol Marina branches.