Grand Harbour Marina shortlisted for Rhodes contract

Grand Harbour Marina is among three companies shortlisted for the contract to develop and operate the Mandraki Marina in Rhodes. The company, in an announcement to the Malta Stock Exchange, said no firm timing had been given for a final determination.

Grand Harbour Marina submitted its bid in April in association with Camper & Nicholson's Marinas International.

The marina is located in the centre of the Greek island's main town. It has a strong historical link with the Grand Harbour marina because both are bordered by fortifications built by the Knights of St John.

GHM said in its announcement that following its recent successful bond issue, it was actively pursuing other investment opportunities with Camper & Nicholsons Marina Investment Limited.

The company said the third quarter of 2010 saw the continuation of a high level of occupancy throughout the marina. The number of super yachts that called at the marina during the nine months ended in September 2010 amounted to 152 compared to 104 in the first three quarters of 2009.

Berthing revenues for the first nine months of this year amounted to €1,118,386 compared to €987,767 in the first nine months of 2009.

Enquiries for super yacht berth sales remained buoyant, however no agreements were finalized. The Board is cautiously optimistic that progress, whilst slow, will result in a positive outcome.