An agreement has been signed for the right to build and operate a mega yacht marina in Corfu.
The Greek state, represented by the Hellenic Republic Asset Development Fund (HRADF), has signed a sub-concession agreement with Lamda Corfu Marina SA, a subsidiary of LAMDA Marinas Investments.
The agreement grants Lamda Corfu Marina the rights to construct, manage, and maintain the new facility, the first large-scale greenfield marina project in Greece in two decades.
The agreement is valued at more than €89 million in total fees over a 40-year period.
It includes an initial payment of €9.7 million and an annual revenue-based fee of 7.77%.
Lamda Corfu Marina is expected to invest more than €50 million in the marina’s construction and development.
Mega yacht marina
The mega yacht marina will be located west of the cruise pier at the Port of Corfu and will offer 410 berths for yachts up to 140 metres long and cover an area of 39,400sqm.
“The agreement signed today for the creation of a marina for large yachts in Corfu is a positive development for the island, the Greek tourism market and the economy,” said Minister of Economy and Finance, Kostis Chatzidakis.
“New jobs will be created during the construction and operation of the marina, bolstering local businesses and the island’s economy and upgrading the tourist product not only of Corfu but of the country, with the ability to receive and serve large yachts.”
Maritime infrastructure
The Minister of Maritime Affairs and Insular Policy, Christos Stylianides, added: “This initiative, implemented in partnership between the public and private sectors, through HRADF and Growthfund underlines the commitment of the government and the Ministry of Maritime Affairs and Insular Policy, to strategically develop our maritime infrastructure and strengthen Greece’s position as an international maritime and tourism centre.”
And he said the agreement is another example of a strategy to upgrade the sustainability and competitiveness of Corfu’s tourism economy.
“We strengthen maritime tourism, highlight the special character of our islands and create the conditions for a strong, multidimensional economy that spreads its benefits to every corner of the country,” he concluded.
