Corfu’s Mega-Yacht Marina Project Moves Forward with Greek Government’s Approval

Photo source: Corfu Port Authority

The Greek government has approved the signing of a contract with Lamda Marinas Investments, a subsidiary of Lamda Development, for the sub-concession to construct, operate, manage, maintain, and exploit the new mega-yacht marina of Corfu. This agreement will last for a minimum of 40 years.

The marina will be situated within the Corfu port, to the west of the cruise pier and near the passenger terminal. This, along with the recent approval for the Spilia yacht shelter development within Corfu’s main port, is expected to position the northern Ionian Sea island as a premier destination for sailing enthusiasts.

The Greek government has authorized three ministers — those of economy, shipping, and tourism — to finalize the concession agreement following a successful tendering process conducted by the Hellenic Republic Asset Development Fund (HRADF). The contract will require further approval from the Greek Parliament.

Gkikas: Mega-yacht marina to boost maritime tourism on Corfu

Deputy Minister of Shipping and Island Policy Stefanos Gkikas expressed his satisfaction with the culmination of the long process.

“A long effort of 4-5 years has come to an end… The marina for mega-yachts is a particularly important infrastructure project, which—together with the yacht shelter in Spilia—is going to boost maritime tourism on Corfu and bring high-quality tourism to the island,” Gkikas said.

Stefanos Gikas, Deputy Minister of Shipping and Island Policy. Photo source: Ministry of Shipping and Island Policy

The deputy minister added that the marina will also contribute to strengthening Greece’s tourism product, especially in an Ionian destination where there is both increased demand for berths in marinas and competitive pressure from emerging neighboring markets.

“I would like to emphasize that several new jobs will be created in the area, both during the construction stage and during the operation of the marina,” Gkikas said.

The Greek State has granted the concession for the mega-yacht marina for an immediate payment of 20 million euros. The developer will undertake to invest an additional 20 to 25 million euros for its construction and will also pay the State an annual fee.

The mega-yacht marina is expected to accommodate about 98 yachts up to 140 meters long and will cover a land area of 39,400 square meters.