Lamda Development is looking forward to strong growth in its marinas in 2027, as the completion of the project in Agios Kosmas is expected in the next 7-8 months.
After the group's shopping centers, both Flisvos Marina and Agios Kosmas Marina provide significant support to Lamda Development's revenues until Hellinikon moves into an advanced phase of development.
In 2025, the marinas' EBITDA recorded an increase of 6%, reaching 21 million euros, a record amount for the group.
Although Flisvos Marina operates normally with 310 berths, the one in Agios Kosmas operates at 71% of capacity (337 berths) due to works.
«The important thing is that we achieved this performance operating essentially with ‘one and a half legs’: one was Flisvos Marina, which operated normally throughout the year, while the ‘half leg’ was Agios Kosmas Marina, as, due to the upgrade works, several boats had temporarily departed from the marina», noted Lamda CEO Odysseas Athanasiou at the shareholders' General Assembly the day before yesterday.
«Nevertheless, we set a new record, the 21 million euros will increase in 2027 partly and in 2028 certainly, when Agios Kosmas Marina will have a full year in operation», he added.
At the same time, the group is preparing for new moves in marinas. Sources tell Euro2day.gr that Lamda Development is interested in strengthening its presence in the sector, closely monitoring the tenders of the Superfund for the utilization of marinas through competitions.
Corfu's mega yacht marina
Outside Attica, Lamda is investing in the Corfu marina, a project worth 140 million euros. It concerns a sub-concession, through a TAIPED tender process, of 40 years, of the right to construct, operate, manage, maintain and exploit the Mega Yacht Marina in Corfu.
Mr. Athanasiou explained that in recent months there has been a delay in the progress of the marina works.
«A boatyard next to the marina was supposed to be relocated. Normally it was to be moved last October, outside this location, so that the works could be carried out. There is a delay in this» Mr. Athanasiou said.
«We hope that the Port of Corfu will speed up what it has to do so that it is moved to another location and we can also begin the works, in order to greatly boost, we believe, Corfu's tourism offering», the CEO underlined.
The project provides for the development of a high-specification marina with 98 berths for vessels ranging in length from 30 to 140 meters, as well as land facilities with a total area of up to 7,800 sq.m., which will host retail stores, dining areas, hotel units and offices. At the same time, the land zone will include extensive green spaces, pedestrian walkways, sports facilities and parking areas.
The project is expected to be completed in 2030.