Sub-concession deal inked for Mega Yachts Marina in Greek island of Corfu

TornosNews.gr 30.10.2024 | 22:31
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Sub-concession deal inked for Mega Yachts Marina in Greek island of CorfuThis is the first greenfield marina project of this scale in Greece in the last 20 years

The Greek state with the Hellenic Republic Asset Development Fund (HRADF) and LAMDA CORFU MARINA Single-Member SA for the Development and Exploitation of the Corfu Marina signed a sub-concession agreement on Wednesday for the right to build, operate, manage, and maintain the Mega Yachts Marina in Corfu.

HRADF is aa member company of Growthfund/The National Fund of Greece, while Lamda Corfu Marina is a subsidiary of LAMDA MARINAS INVESTMENTS SMSA, which was declared a Preferred Investor in July 2023, in the relevant tender conducted by HRADF.

The total value of the fees to be paid by the sub-concessionaire will exceed 89 million euros over 40 years. This includes an upfront payment upon the commencement of the sub-concession period of 9.7 million euros and a percentage of 7.77% of the sub-concessionaire's gross revenue paid annually.

Furthermore, the total investment for the construction and development of the new marina is expected to amount to over 50 million euros. 

RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report

Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Eric Gaba

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