The Hellenic Republic Asset Development Fund (HRADF) announced the signing of the agreement for the sub-concession of the right to build, operate, manage and maintain the Mega Yachts Marina in Corfu.
The deal was signed, between the Greek State and the Fund, and the company “Lamda Corfu Marina Single-Member S.A. for the Development and Exploitation of the Corfu Marina”, a member company of “Lamda Marinas Investments SMSA” which was declared as the preferred investor in July 2023, in the relevant tender conducted by HRADF.
The licensed Mega Yachts Marina will be located within the Port of Corfu, to the west of the cruise pier, near the Passenger Terminal.
It will have a capacity of 410 berths for yachts up to 140 meters in length and a land zone of 39,400 square meters.
The total value of the fees to be paid by the sub-concessionaire will exceed €89m over a 40-year period.
Specifically, Lamda Marinas Investments will invest more than €50m for the construction and the development of the marina, while the total consideration payable to the HRADF over the 40-year period will exceed €89m, according to Lamda Development S.A.
The project involves the development of a marina with 410 berths for yachts up to 140 meters long as well as a land zone of 39,400 sqm for uses related to retail, food and beverage, hotel and offices, as well as extensive green and pedestrian areas, sports facilities, car parking facilities and a boat maintenance area.
The Greek deputy minister of maritime affairs & insular policy, Stefanos Gikas, said: “In the last five years we have worked together with the management of the Corfu Port Authority, the Hellenic Republic Asset Development Fund, the Ministries and the local authorities to fulfil our vision about the development of a new state of the art marina in the island of Corfu.
“We are delighted that this iconic investment is on track, and I am particularly pleased, as I believed in this and worked for it from the very beginning.
“The new Mega Yacht Marina in Corfu will become a landmark for the local community and economy, enhancing the growth prospects of the island, as it will result in more and higher quality tourism, new job opportunities and substantial economic benefits.
“I would like to thank the CEO of HRADF, Dimitris Politis, and the CEO of the Port Authority of Corfu, Spyros Zervopoulos, for their help and excellent collaboration. The next steps involve the ratification of the agreement by Parliament and the beginning of the marina’s construction, which I will closely follow at every stage. Today is a very good day for Corfu.”
Greek minister of economy and finance, Kostis Chatzidakis, said that 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.
“Our country needs such investments to further improve its position in international competition and for Greek tourism to remain on the positive course recorded in recent years,” he said.
