Announcement regarding business developments in Marinas

Signing of a €89m sub-concession agreement and €50m investment for the development of the Mega Yacht Marina in Corfu

Maroussi, 30 October 2024

LAMDA Development S.A. (the “Company”) informs the investing public that, further to the declaration of the company’s subsidiary LAMDA MARINAS INVESTMENTS S.M.S.A. as the Preferred Investor in July 2023, the 40-year sub-concession agreement between LAMDA MARINAS INVESTMENTS, the HRADF and the Corfu Port Authority, regarding the right to construct, operate, manage, maintain and exploit the Mega Yacht Marina in Corfu, was signed on 30.10.2024.

LAMDA MARINAS INVESTMENTS will invest more than €50m for the construction and the development of the marina, while the total consideration payable to the HRADF over the 40-year period will exceed €89m.

The project involves the development of a state-of-the-art marina with 410 berths for yachts up to 140 meters long as well as a land zone of 39,400 sqm for uses related to retail, food and beverage, hotel and offices, as well as extensive green and pedestrian areas, sports facilities, car parking facilities and a boat maintenance area.

With this investment in the Mega Yacht Corfu Marina, located in the fast-growing Ionian and Adriatic Sea markets, which have seen substantial growth in traffic of both professional and private yachts in recent years, LAMDA further strengthens its leading position in the maritime tourism industry. Marina Corfu will be added to the Group’s existing portfolio of marinas, the ones in Flisvos and Agios Kosmas in the Ellinikon project, which are strategically located on the coastline of the Athenian Riviera.