Leptos heads up consortium for new marina

A CONSORTIUM headed by the Leptos group has been awarded the contract to build the new Paphos marina.

Commerce Minister Antonis Patsalides announced the winning consortium for the project in Potima in Paphos.

The Minister acknowledged the competition for the project had been stiff. Four consortiums vied for the prestigious contract, with the front-runners said to be those headed by Leptos and Aristo developers.

The Leptos group was founded in Paphos in 1961 and describes itself as, ‘the leading property developer.’ Numerous projects and developments in Paphos are Leptos builds.

The winning consortium that it heads up is made up of Cybarco, JNP Avax, Francoudi and Stephano and Athena and KAT.

Work on the large-scale project is due to commence immediately, and must be completed within three years.

The Marina will have mooring for 1,000 boats, slipways and a boatyard. There will be further leisure facilities, including, a restaurant, bar and parking. The cost of the project is expected to come in at over €70 million.

The winning group will have to pay the government annual rent of €4 million for 19 years.

Owners of surrounding land have seen it more than triple in value since the decision to build a new marina was taken.

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