On Monday 29 July, Deputy Tourism Minister Costas Koumis and the Deloitte Triton Paphos Marina consortium signed a contract for the provision of consultancy services for the preparation of a tender for the construction of a new marina in Paphos.
The ultimate goal of the contract is to find a strategic investor who will develop the marina using the DBFOT (design, build, finance, operate, transfer) method. Koumis said that this is the first step towards the realisation of an important project for the Paphos area, which is expected to improve the tourism product of the whole island.
The total duration of the contract is 30 months. The contractor is expected to present its designs within 9-12 months. The project is expected to be completed by the end of 2026. Kumis stressed that the project will lay the foundation for further development of nautical and yacht tourism in the region.
It's worth remembering that back in February 2023, the Cabinet of Ministers approved the construction of a new marina in Paphos.
However, a number of changes have been made to the original project. In addition to berths for yachts, repair shops, cafes, restaurants and boutiques in the Paphos marina, it was decided to build a berth for luxury yachts and cruise ships with a maximum length of 220 metres, as well as a hotel and residential complexes. The Paphos marina, which will be the fifth in Cyprus, is expected to strengthen the island state's position as a major international yachting hub. Approximately €250 million has been earmarked for the project. Of this, €100 million will be spent on port facilities and around €150 million on site development.