SMIP and P&O Marinas sign MoU
MONACO: DP World Group subsidiary P&O Marinas – manager of the Mina Rashid Marina project in Dubai – has finalised an agreement with Société Monegasque International Portuaire (SMIP) in Monaco to work on selected superyacht marina projects in the Mediterranean and around the world. A Memorandum of Understanding (MoU) was signed in Monaco in May.
Mohammed Al Mannei, CEO P&O Marinas and executive director Mina Rashid, commented: “By partnering with SMIP, we will complement each other’s experience to ensure the very best facilities feature high standards and innovative services that create long term sustainable value to clients, local communities and shareholders.”
Mina Rashid, a project aimed at ultimately accommodating 20,000 yachts, opened last November with the first of three phases, Marina Cube. This is expected to be a new maritime tourist and entertainment hot spot stretching over 13km² (5mi²).
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