Management of Karpaz Gate Marina Changes Hands

The management of Karpaz Gate Marina on the Karpas Peninsula in the TRNC has been transferred to the Turkish-Cypriot company Arkin Group. This change in ownership follows an agreement with the Israeli investors involved in the project.

According to local and Greek media, the marina will now be directly managed by Erbil Arkin, the director of Arkin Group. With the agreement signed last week, Karpaz Gate Marina is now fully under the control of the local company.

Under the new agreement, Arkin Group will not only oversee the marina but also make new investments.

Opened in 2011, Karpaz Gate Marina is a fully equipped facility featuring a 300-boat dock, a beach, restaurants, a hotel complex, and areas for yacht repair and maintenance.

The project is considered the largest Israeli investment in Northern Cyprus, with estimates putting the construction cost at around 120 million euros.

According to the TRNC Ministry of Tourism, only 113 people arrived at the marina from abroad in the first seven months of the year. Of these, seven were Turkish Cypriots, 39 were Turkish citizens, and 67 were from other countries.

In comparison, 433 people arrived at the resort port from abroad last year, and in 2022, there were only 303 travelers.