The Deputy Ministry of Tourism and the Deloitte Triton Paphos Marina Consortium signed a contract on Monday for consultancy services regarding the competitive process for developing the Paphos Marina project.

The contract aims to announce and complete a competitive process to select a strategic investor for the development of the project using the DBFOT (Design, Build, Finance, Operate, Transfer) method.

According to a statement from the Deputy Ministry, the marina is planned to be constructed in the Potima area of Kissonerga. The successful investor will have the option to either build a marina with a capacity of 1,000 boats, including residential and commercial development, or to combine the marina with cruise ship infrastructure, also incorporating residential and commercial development.

The contract has a total duration of 30 months. The project's announcement is expected within nine to twelve months from the signing of the contract.

The assignment of the marina project to the successful investor is anticipated to be completed by the end of 2026.

In the coming months, consultations with both public and private entities are planned, as stipulated in the contract, to finalize the project parameters.

Deputy Minister Costas Koumis stated that today marks the first step towards the implementation of a significant project expected to inject new dynamism into the development prospects of the entire region. "Undoubtedly, projects of this scale and dynamic upgrade the country's offered tourism product and define the developmental trajectory of tourism for the coming decades," he said.

The Paphos Marina will be the fourth marina supervised by the Deputy Ministry of Tourism.

Mr. Koumis added that all these projects lay the foundation for further development of maritime tourism, particularly yachting tourism, a form characterized mainly by high-income visitors and its associated benefits.