Planned Paphos Marina anticipated to attract more foreign companies to the region

Interested parties have until 22 January to submit preliminary expressions of interest to participate in the tender for the construction and operation of the Paphos Marina in the Potima area in Kissonerga, according to the invitation for expressions of interest published by the Deputy Ministry of Tourism.

The President of the Cyprus Association of Large Investment Projects, Andreas Demetriades has told the Cyprus News Agency (CNA) that the project is anticipated to encompass a 1,000-boat marina, with the possibility of commercial and residential development and optional infrastructure for receiving a cruise ship.

The Deputy Ministry of Tourism, Demetriades continued, intends to announce a tender, with a view to signing a DBFOT (Design, Build, Operate, Transfer) concession agreement between the Republic of Cyprus and the successful Concessionaire.

He noted that this competition will involve two phases, with the first being the phase of submitting expressions of interest and then the phase of submitting bids for pre-selected candidates.

Consultations will follow between the State and the companies that have expressed interest, in an effort to ensure that the tender notice will contain elements and specifications that will attract the interest of investors, he said.

Based on the timetables, the President of the Cyprus Association of Large Investment Projects added, this step is the last before the announcement of the official competition, which is scheduled between April and July.

Based on the schedules, the award to the successful bidder is expected around the end of 2026, while the work will be completed in 2029, he said.

"This is a major project that will increase the interest of foreign companies in operating in the Paphos district, which are planning either the construction of projects or the transfer of their regional or even central offices to Paphos," he concluded.

(Source: CNA)