D-Marin Awarded Management of Pylos Marina in Greece
International marina network D-Marin was awarded the 40-year management rights of the Pylos marina in Messinia, Greece’s asset body announced recently.
More specifically, the Hellenic Asset Development Fund (HRADF), a member company of GROWTHFUND – The National Fund of Greece, declared the group consisting of the companies D Marinas Hellas Single Member – TEMES SA as the preferred investor granted the right to exploit and develop the marina of Pylos for a period of 40 years.
Under the deal, the concessionaire is expected to invest approximately 15 million euros in upgrade works in the coming years aimed at modernizing infrastructure, enhancing operational capacity and digitalizing services offered at the Pylos Marina.
“The area of Messinia is one of the best yachting locations in the Mediterranean. Together with TEMES SA, we are committed to meeting the needs of the local community and to putting this excellent location on the map of maritime tourism,” said Oliver Dörschuck, CEO D-Marin.
The total value of the agreement for the development of the Pylos marina comes to 1.5 million euros and includes a lump sum of 550,000 euros payable at the beginning of the concession as well as a percentage of the marina’s annual gross revenue.
The highly anticipated marina project is also expected boost tourism activity to the region.
The Pylos marina is located on the Bay of Navarino and can cater to the berthing needs of 129 watercraft of up to 30 meters in length. The 32.1 square meters marina covers an 85.3m square meters sea area.
According to the master plan of the marina approved in 2018, the facility will cover the needs of yachting tourism and serve as a tourism, recreation, and cultural hub. Land uses foreseen in the plan include projects in leisure and tourism, the development of residential property for lease, administration and operation of the marina, and vessel deposition and maintenance.
The tender file will be submitted to the Court of Auditors for pre-contractual audit. The transaction documents will be signed after court approval.
The Pylos Marina is the fourth premium facility operated and managed in Greece by D-Marin in addition to those of Zea (Piraeus), Gouvia, and Lefkada. D-Marin currently runs a network of marinas in 20 locations around the world and recently entered the Italian and Spanish market through the acquisition of four new marinas.