Ratification of mega-yacht marina before Parliament
ATHENS. The seafront has still not been transferred to the Municipality.
The ratification of the contract between the Greek State and the company set to construct the mega-yacht marina in Corfu is expected to be brought before Parliament soon. An official announcement on the discussion date may be made on Thursday during a session of the Trade Committee.
According to sources, both in committee and during the plenary debate, lawmakers are likely to revisit the long-standing issue of transferring the seafront from the Ministry of Finance to the Central Corfu Municipality. The matter is closely tied to the commercial development of a significant portion of the waterfront, as well as the planned reshaping of the area through extensive land reclamation, as outlined in the company’s project plans.
The contract, signed on October 30, 2024, covers the construction of a marina for large vessels (mega yachts) within the port area. The project’s contractor is LAMDA Corfu Marina S.A., a subsidiary of LAMDA Marinas Investments SMSA, which was selected as the preferred investor by the Hellenic Republic Asset Development Fund (TAIPED).
The total value of the agreement exceeds €89 million over a 40-year concession period, including a one-off payment of approximately €9.7 million and an annual fee of 7.77% of the contractor’s turnover. The company is also committed to investments exceeding €50 million for the construction of the marina.
The facility will be located west of the cruise ship pier at the Port of Corfu, covering a land area of roughly 39,400 square metres.
GIORGOS KATSAITIS
