Lamda Development and the Greek state have submitted a 40-year concession agreement to the Greek parliament which, upon ratification, will open up a €50 million investment to construct a new superyacht marina on the island of Corfu.
The subsidiary Lamda Corfu Marina will undertake the construction and development of the marina, which will have 410 berths for boats up to 140 meters, making it one of the largest facilities in the Mediterranean. The landside area of 3.94 hectares will include commercial shops, restaurants, hotel units, offices, as well as green areas, pedestrian streets, sports facilities and parking areas. It will also include a specialised boat maintenance zone, oriented to the needs of luxury shipping.
The investment will upgrade infrastructure in the Port of Corfu, west of the cruise pier and in close proximity to the passenger terminal. According to tornos news, the choice of location is “not accidental”.
It was reported that, "The Ionian and Adriatic Seas have been areas with a rapid increase in the number of commercial and private boats in recent years," making Corfu a potential yachting hub in the wider eastern Mediterranean.
According to tornos news, the concession agreement gives a total price of €89 million for a period over a period of 40 years, €9.7 million of which will be paid as a one-time fee before the final delivery of the marina. The remaining €79.3 million will be given through annual variable payments.
It is expected that the Greek parliament will ratify the agreement this week.
