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A Leaked email from a UK Financial Services consultants to its client suggesting that buying property in the Peyia area will pay dividends now that the contract to build the new Paphos 1000 yacht marina has been awarded is causing some speculation.

In fact, owners of land surrounding the site for the new marina have seen its value triple since the decision to build the marina was taken.

The €70 million+ contract has been awarded to a consortium headed by Leptos group and includes - Cybarco, JNP, Avax, Francoudi and Stephano, Athena and KAT - and the winning group will have to pay the government an annual rent of €4m for the next 19 years.

The Announcement of the award was made by government Commerce Minister Antonis Patsalides for the project in Potima, Paphos.

Competition for the project was said to be stiff with four consortiums concerned and work will start immediately and must be completed in three years.

The Marina will have moorings for 1000 boats, slipways and a boatyard. There will also be further leisure facilities, including a restaurant, bar and parking.