After decades of discussion and stalled plans, the Paphos Marina project has officially entered a decisive phase in 2026. Four serious bidders are now in the running to develop what could become one of the most important waterfront projects in Cyprus.

For property buyers, investors, and developers watching the Paphos real estate market, this is more than just infrastructure news — it could mark the beginning of a new growth cycle for the region.

Where Will the Paphos Marina Be Built?

The proposed marina will be developed in the Potima Bay area of Kissonerga, just outside Paphos town. The location is already popular with both tourists and property buyers thanks to its coastline, sea views, and proximity to Coral Bay.

The project covers approximately 165,000 square meters of coastal land and is expected to include:

  • Up to 1,000 yacht berths
  • Luxury waterfront residences
  • Retail and dining areas
  • Leisure and hospitality facilities
  • Potential hotel development

If completed as envisioned, the marina would position Paphos as a serious competitor to Limassol Marina and other Mediterranean yachting destinations.

Who Are the Four Bidders?

According to the latest reports, four groups have submitted bids for the project:

  • MAN Enterprise Cyprus Limited
  • Cusano Mare Ltd
  • Orestes Fintiklis
  • Celicandia Ltd (linked to Korantina Homes Group)

Each bidder brings different strengths in construction, hospitality, tourism infrastructure, and large-scale development. The selection process is now underway, and a final decision is expected after evaluation of financial and technical proposals.

This competitive interest suggests strong confidence in the long-term viability of Paphos as a luxury tourism and investment destination.

Why the Paphos Marina Matters for Property Investors

The development of a marina is not just about boats — it is about economic transformation.

Historically, marina developments in the Mediterranean lead to:

1. Increased Property Values

Waterfront infrastructure attracts high-net-worth visitors and international buyers. Properties within close proximity to marinas typically experience stronger capital appreciation compared to inland areas.

2. Stronger Rental Demand

Yachting tourism tends to be higher-spending and longer-staying. This creates demand for:

  • Short-term holiday rentals
  • Luxury serviced apartments
  • High-end villas

With Paphos already attracting a large share of Cyprus tourism, a marina would likely extend the season and increase occupancy rates.

3. Infrastructure Improvements

Major projects bring improved roads, utilities, public spaces, and services — all of which benefit surrounding residential areas.

A Project 30 Years in the Making

The Paphos Marina concept has been discussed for over three decades. Previous attempts failed due to legal challenges and administrative delays.

The current tender process was designed to avoid past complications, using a structured concession model that allows a private investor to design, finance, build, and operate the marina for a fixed period before transferring it back to the state.

This updated structure increases the likelihood that the project will finally move forward.

What Areas Could Benefit the Most?

If the marina proceeds, the following areas could see increased attention:

  • Kissonerga
  • Potima Bay
  • Coral Bay
  • Western Paphos coastal zone

Investors looking for early positioning may consider properties near the proposed development site before final approvals are announced.

Is Now the Right Time to Invest in Paphos?

Timing is crucial in property investment.

Buying before large-scale infrastructure is confirmed can offer:

  • Lower entry prices
  • Higher upside potential
  • Better property selection

However, investors should always conduct proper due diligence and assess:

  • Planning status
  • Developer reputation
  • Market demand trends

Final Thoughts

The announcement that four bidders are competing for the Paphos Marina project in 2026 is a strong signal of renewed momentum. While final approval and construction timelines remain to be confirmed, the project has once again placed Paphos in the spotlight.

For those considering buying property in Paphos — whether for lifestyle, relocation, or investment — this is a development worth monitoring closely.

If the marina proceeds as planned, it could redefine the western coastline of Cyprus for decades to come.