The first signatures related to the development of the Paphos Marina project have been secured. This marina is scheduled to be constructed in the Potima area of Kissonerga, a long-awaited project by local stakeholders.

On Monday, July 29, an agreement was signed between the Ministry of Tourism and the Deloitte Triton Paphos Marina Consortium for consultancy services concerning the competitive bidding process for the project’s development. This agreement essentially marks the beginning of the project's implementation and the search for an investor.

According to the set timelines, the Paphos Marina is expected to be completed by 2029 at the latest. Specifically, the Ministry of Tourism indicated that if everything proceeds smoothly, the project award to the successful investor will be finalized around the end of 2026.

According to information provided to Brief, the completion of the works and the development is estimated to be finished within three years, positioning the marina’s completion by 2029.

It is worth noting that, as Brief has learned, the project award could potentially occur before 2026.

Although the project parameters have not yet been finalized as consultations with public and private entities are still to come, there are indications of the development’s direction.

Specifically, as stated by the Ministry of Tourism in its announcement, the investor will have the option to either construct a marina with a capacity for 1,000 vessels, including residential and commercial development, or a combined development featuring a marina for 1,000 vessels with facilities for accommodating cruise ships, including residential and commercial areas.

Regarding the investment cost, although figures are continually changing due to project costs and potential design variations, it is estimated to be around €200 million.