Corfu is preparing to acquire its own Mega Yacht Marina, a landmark project for maritime tourism in the Ionian Sea. With the submission to Parliament of the 40-year concession agreement between Lamda Development and the State, the way is opened for the implementation of a €50 million investment, which aspires to completely upgrade the port’s infrastructure and strengthen Greece’s position in the international mega yacht market.
The agreement, which has been signed between the parties involved since October 2024, is already being discussed in the competent committee of Parliament and is expected to be ratified by the Plenary Assembly within the week.
Mega Yacht Marina Corfu
The subsidiary Lamda Corfu Marina will undertake the construction and development of the marina, which will have 410 berths for boats up to 140 meters in length, making it one of the largest and most modern facilities in the Mediterranean. The land area of ??39,400 sq m. includes commercial shops, restaurants, hotel units, offices, as well as extensive green areas, pedestrian streets, sports facilities and parking areas. It will also include a specialized boat maintenance zone, oriented to the needs of luxury shipping.
The marina is located within the Port of Corfu, west of the cruise pier and in close proximity to the Passenger Terminal, strengthening the interconnection between maritime tourism and passenger activity. The choice of location is not accidental: the Ionian and Adriatic Seas have been areas with a rapid increase in the number of commercial and private boats in recent years, which makes Corfu a strategic hub in the wider maritime route of the Eastern Mediterranean.
The price
The contract provides for a total price value of 89 million euros for the State over a period of 40 years. Of this, 9.7 million euros will be paid as a one-time fee before the final delivery of the marina, while the remaining 79.3 million euros will be given through annual variable payments. The State reserves the right to audit the company’s accounting books, ensuring transparency in the management of the sub-concession.
Strong economic and tourism footprint
Lamda Development, which already has a significant presence in the marina sector through its facilities in Flisvos and Agios Kosmas (Elliniko project), is expanding its portfolio by investing in one of the most dynamically developing sectors of the tourism economy. The new Corfu marina is expected to create new jobs, upgrade the image of the island as a high-end destination and act as a pole of attraction for large pleasure boats that until now have chosen other bases in the Mediterranean, such as Dubrovnik or Monte Carlo.
Beyond the economic dimension, the project is part of a broader strategy for the sustainable development of maritime tourism in Greece, with an emphasis on the quality of infrastructure, environmental respect and the diversification of tourism products. Upon its completion, Corfu Marina will not only become a new reference point for lovers of luxury at sea, but also a catalyst for the island’s tourism and investment renaissance.
