LAMDA Marinas, part of the LAMDA Development Group, has signed a sub-concession agreement with the Greek State, the Hellenic Republic Asset Development Fund (HRADF) and the Corfu Port Authority for the right to build, develop, manage and operate a megayacht marina on the island of Corfu.

At the signing ceremony, LAMDA Marinas Investments managing director Stavros Katsikadis said: "Today marks an important day for Greek maritime tourism and in particular for the Greek marinas sector. With the signing of the sub-concession agreement for the Corfu Mega Yacht Marina, we are beginning the development of a significant new Greek marina, approximately 20 years after the last marina agreement of this scale in Greece."

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"It is also a milestone for LAMDA Marinas. Following the success of the Flisvos Marina and Agios Kosmas Marina in The Ellinikon project, our company is now investing in Corfu, one of the premier superyacht destinations across the Mediterranean",he added.

Katsikadis outlined that the goal is to create and sustainably develop a modern marina with water and land-based infrastructure suitable for year-round berthing. LAMDA Marinas Investments will invest over €50 million in the construction and development of the marina, while the total cost of the acquisition will exceed €89 million. With the development of the marina in Corfu, LAMDA Marinas will control approximately 40% of the total revenue from Greek marinas.