Parliament ratifies contract for new marina in Corfu
ATHENS. The concession for construction and operation rights has been granted for 40 years.
Parliament ratified the contract for the sub-concession of the right to construct, operate, manage, maintain, and exploit the Mega Yacht Marina in Corfu, between, on the one hand, the Greek State, the Hellenic Republic Asset Development Fund (TAIPED), and the Corfu Port Authority, and, on the other hand, LAMDA, through its subsidiary LAMDA Marinas Investments.
The total value of the consideration to be paid by the sub-concessionaire under the contract will exceed €89 million over a period of 40 years. This includes:
a) a one-off payment of €9.7 million at the start of the sub-concession, and
b) an annual payment equal to 7.77% of the sub-concessionaire’s turnover.
The sub-concessionaire will also carry out investments exceeding €50 million for the construction and development of the marina from scratch.
The Mega Yacht Marina will be located to the west of the cruise pier, near the Passenger Terminal. It will be able to accommodate 410 vessels up to 140 meters in length and will have a land zone of 39,400 square metres.
With this investment, LAMDA strengthens its leading role in the marine tourism sector and acquires its third marina in Greece. The Mega Yacht Marina will join the Group’s existing marinas at Flisvos and Agios Kosmas (at the Ellinikon development project).
Once developed, LAMDA will hold 40% of the total turnover of Greek marinas.
