The Marigot seafront: a project which should yield a profit of more than 1 billion euros
Investors who are selected by the Collectivité to develop and run Marigot bay could earn 1.075 billion euros. Indeed, this is the market value indicated in the notice for the 55-year concession which was launched by the Collectivité at the end of July.
The revenues will especially come from small and large recreational boating, cruises, sales and rentals, parking management, ship services. One must remember that the development project must enable the development of two main activities: cruises and sailing as well as real estate (hotels, housing).
RECREATIONAL BOATING REVENUES
According to studies conducted by the Collectivité and the results of which provide potential candidates with a sneak preview, the revenues from the marina and cruises should generate starting from the second year of operation (in 2022) around 10 million euros including 4.7 M€ from berthing facilities for large recreational boats and 3 M€ from ships and additional revenues such as clearance, the sale of fuel, water, electricity, laundry etc.; bearing in mind that the current turnover of the Fort Louis Marina is 2.74 M€ per year and the profits come to 94,000 euros. Afterwards, the revenues should rise to 14 M€ in 2035, 18 M€ in 2050 and 25 M€ in 2070, the last year of the concession.
As for the operating expenses for recreational boating, they are expected to amount to 3.1 M€ in 2022, a little over 4 M€ in 2035 and 9.1 M€ in 2070.
Commercial rents and leases should yield a profit of 1.35 M€ in 2022, 2.3 M€ in 2035 and 4.1 M€ in 2070 with operating costs ranging from 650,000 € to 1.628 M€ throughout the duration of the concession. But the Collectivité has clearly specified that "these amounts are only estimates".
However, very little information about the cost of the project has been given. Only part of this huge project has been assessed, namely work concerning dredging and the construction of dykes and main wharfs, for approximately 187 M€.
Candidates who are interested in investing in Saint-Martin and eager to take part in this project - without any financial participation from the Collectivité - have until October 26 to send their application to the services of the Collectivité.
