There has been renewed and noticeable activity around the Paphos marina development project. While it is still too early to speak of formal interest in the form of official applications submitted to the Deputy Ministry of Tourism, market interest is clearly evident. Potential investors include Cypriot companies, foreign players, as well as joint consortia combining local and international businesses. This was stated by Andreas Dimitriadis, Chairman of the Association of Large Development Projects, commenting on the situation to business media.
Additional confirmation of interest came with the decision to extend the deadline for submitting expressions of interest. Initially, the deadline was set for 16 December 2025, but it was postponed to 23 January 2026. According to experts, such extensions usually occur only when relevant requests are received from potential participants in the tender process.
Selection timeline and next stages of the project
It is expected that the preliminary selection of candidates will be completed by around 10 March 2026, following the evaluation of submitted applications. Approximately three participants are likely to be shortlisted, unless a larger number of companies meet all the established criteria. The selected investors will then be required to submit their final proposals by approximately 10 April 2026.
The final decision on the selection of the winner and the award of the contract, according to current estimates, should be made by the end of 2026. These timelines are indicative and may be shifted by about a month, depending on the progress of the procedure and administrative stages.
Two development scenarios for the Paphos marina
The marina project предусматриes two possible implementation options, and the chosen concept will determine both the timeline and the scale of construction. In both cases, the project will follow a design–build–finance–operate–transfer model with a concession period of 55 years.
The first option involves the creation of a marina with approximately 1,000 yacht berths, most of which will be located in the water, with the remainder closer to land. In addition, the project includes residential and commercial development aimed at tourism and long-term living.
The second option retains the same marina characteristics and development components but additionally provides for infrastructure to accommodate cruise ships. This scenario could significantly enhance Paphos’s tourist appeal and expand its role as a maritime hub in the south-west of Cyprus.
When construction could begin
According to Dimitriadis, it is currently impossible to determine an exact implementation schedule, as everything will depend on the proposal of the selected investor. After the tender procedures are completed, the project will need to undergo mandatory environmental, transport, and urban planning studies.
Preparing all required studies and obtaining permits is expected to take between 6 and 12 months. Overall, the investor will need approximately one to one and a half years to complete the preparatory phase. If the process proceeds without major delays, construction work could begin in 2027.
Lessons from the past and the role of the Deputy Ministry of Tourism
In the past, attempts were already made to implement the Paphos marina project, but previous efforts ended unsuccessfully. According to experts, the possibility of new legal challenges cannot be ruled out, as this is предусмотрено by current legislation. However, this time the Deputy Ministry of Tourism intends to strictly adhere to established procedures—something that, according to specialists, was lacking in the past when the project was overseen by the Ministry of Commerce and Industry.
Even if objections are filed, the state has the right to continue with the contract award process. If any appeal is upheld by the court, the winning company will be able to seek compensation through the district court, provided it can prove the damage incurred. Experts emphasize that proper conduct of the procedure can not only reduce risks but also finally set in motion one of the most anticipated infrastructure projects in Paphos, which is of significant importance for tourism and the regional economy.