The tender for the construction of a new marina in Paphos will be announced in 2026, if investors show sufficient interest in the project.
This was announced by Marinos Stylianou, head of the Paphos Chamber of Commerce and Industry, on Wednesday 8 January.
According to him, interested parties have until 25 January 2025 to submit their proposals. The Ministry of Tourism will then evaluate them. Stylianou said that the main specifications of the project were published on the ministry's website before the holidays, so that potential investors could familiarise themselves with them and start preparing their proposals.
He also mentioned that the Deloitte Triton consortium, with which they had previously signed a contract for consultancy services for the preparation of the tender, had been given the task of drawing up clear criteria for the future tender, in order to avoid possible disputes and complaints in court. In addition, the documentation is being prepared in such a way as to avoid repeating the mistakes of previous projects in the region. 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.
As a reminder, the Cabinet of Ministers approved the construction of a new marina in Paphos back in February 2023.
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 the port facilities and around €150 million on the development of the site.