The Paphos Marina Project has taken a leap forward with a new consulting contract signed between the deputy ministry of tourism and Deloitte Triton Paphos Marina Consortium. This 30-month collaboration aims to select an investor for marina development using the DBFOT methodology, with the project anticipated to be announced in 9-12 months and completed by the end of 2026, marking a significant milestone for the local economy and tourism sector.
What is the progress on the Paphos Marina Project?
The Paphos Marina Project has advanced with the signing of a key consulting contract between the deputy ministry of tourism and Deloitte Triton Paphos Marina Consortium. This collaboration, lasting 30 months, aims to create a tender process to select an investor for the marina’s development using the DBFOT methodology. The project could be announced in 9-12 months and completed by the end of 2026.
Initiating the Tender Process
The development of Paphos marina has taken a significant stride forward. A crucial contract was inked on Monday, aligning the deputy ministry of tourism with Deloitte Triton Paphos Marina Consortium for a 30-month span. Their collaboration is pivotal; it aims to sculpt a tender process crafted to attract and select a strategic investor. The chosen entity will be tasked with the marina’s development via the DBFOT methodology—Design, Build, Finance, Operate, Transfer.
Costas Koumis, the Deputy Minister, underscored this step as a cornerstone in actualizing a vital venture for the Paphos district. The overarching goal is to enhance the tourism offerings of Cyprus as a whole. With a keen eye on the future, the contract’s fulfillment could signify a milestone for the local economy and tourism sector.
A Vision for Paphos Marina
The Potima region, nestled within the quaint confines of Kissonerga village, is set to be the marina’s future home. The investor will confront a choice: construct a marina with berth capacity for 1,000 vessels, complete with residential and commercial spaces, or opt for a comprehensive project that includes cruising ship facilities alongside the aforementioned amenities.
An intriguing aspect of this development is the timeline. Expectations are set for the project announcement to occur roughly nine to 12 months following the contract’s commencement. Should all sail smoothly, the marina’s grand completion could align with the close of 2026. As part of the agreement, engaging consultations with various stakeholders—both public and private—are on the horizon, with the intent to solidify the project’s framework.
A Boost to Maritime and Yachting Tourism
Koumis elucidated that the establishment of such projects is more than just construction; it’s about laying a robust foundation for the blossoming of maritime and yachting tourism on the island. These sectors are well-known for attracting a clientele with disposable income, suggesting a lucrative ripple effect on the local economy.
The proposition of a marina accommodating cruise ships in addition to private boats could be a game-changer. It addresses the dual aspects of enhancing the infrastructure for tourism while also providing perpetual commercial opportunities and residential developments, potentially reshaping the Paphos district into a luxury destination.
Engaging Key Stakeholders
The next few months are crucial for the Paphos marina project. The deputy ministry and Deloitte Triton Consortium will be engaging in a series of discussions with key stakeholders. The aim here is to weave a comprehensive plan that ticks all the boxes—incorporating feedback, meeting regulatory standards, and ensuring the project’s long-term viability.
This dialogue is not just a formality; it’s a strategic move to ensure that all parties’ interests are aligned. The collective insights will be instrumental in sculpting a marina that not only meets international standards but also serves as a beacon of progress and prosperity for Cyprus’ tourism industry.
What is the progress on the Paphos Marina Project?
The Paphos Marina Project has advanced with the signing of a key consulting contract between the deputy ministry of tourism and Deloitte Triton Paphos Marina Consortium. This collaboration, lasting 30 months, aims to create a tender process to select an investor for the marina’s development using the DBFOT methodology. The project could be announced in 9-12 months and completed by the end of 2026.
What is the vision for the Paphos Marina development?
The Paphos Marina development will be located in the Potima region of Kissonerga village. The project envisions the construction of a marina with berth capacity for 1,000 vessels, along with residential and commercial spaces. There is also an option for the investor to include cruising ship facilities in the project.
How will the Paphos Marina Project benefit the local economy and tourism sector?
The establishment of the Paphos Marina Project is expected to have a positive impact on the local economy and tourism sector. By attracting maritime and yachting tourism, the project aims to bring in visitors with disposable income, potentially boosting commercial opportunities and residential developments in the Paphos district.
What steps are being taken to ensure the success of the Paphos Marina Project?
Key stakeholders, both public and private, will be engaged in consultations to ensure the success of the Paphos Marina Project. These discussions will focus on incorporating feedback, meeting regulatory standards, and aligning interests to create a marina that meets international standards and drives progress in Cyprus’ tourism industry.
