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 comany of Growthfund/The National Fund of Greece, while Lamda Corfu Marina is a subsidiary of LAMDA MARINAS INVESTMENTS SMSA, which was declared 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 a 40-year period. 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.
Additionally, the total investment for the construction and development of the new marina is expected to amount to over 50 million euros.
This is the first greenfield marina project of this scale in Greece in the last 20 years.
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 signing ceremony was attended by the Ministers of Economy & Finance Kostis Hatzidakis, of Maritime Affairs and Insular Policy Christos Stylianides,of Tourism Olga Kefalogianni, CEO of HRADF Dimitris Politis and Executive Director Panagiotis Stampoulidis, CEO of Growthfund Gregory D. Dimitriadis, CEO of Corfu Port Authority Spyridon Zervopoulos, and CEO of LAMDA Development Odysseas Athanasiou, among others.
SOURCE; ANA-MPA
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