D-Marin signs JV to operate Middle East marinas
UAE: Meraas and Dubai Holding have signed an agreement with Dogus Group company D-Marin to manage and operate the existing and future marinas being developed at Port de la Mer, Dubai Harbour and Jumeirah Beach Hotel.
The partnership also seeks to establish a regional centre with a global standard for renovation, service and maintenance of luxury vessels in Dubai, similar to the D-Marin backed MB92, which currently has branches in Barcelona, Spain and La Ciotat, France.
D-Marin, which operates the largest chain of marinas in the eastern Mediterranean at six international destinations, is well positioned to attract international investment in the maritime sector and help promote Dubai as a preferred destination for luxury yachting. The joint venture also includes long-term provisions for the development of additional marina lifestyle offerings through a broader ecosystem of service and investments that extend into other sectors in the Middle East and Far East regions.
His Excellency Abdulla Al Habbai, group chairman of Meraas and chairman of Dubai Holding, confirmed: “The success of the two companies in attracting a global operator such as D-Marin to invest in the luxury marinas sector is aligned to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, vice president and Prime Minister of the UAE and Ruler of Dubai, to promote Dubai as a leading international tourist destination and position the UAE at the forefront of the world’s most business-friendly countries. This agreement will contribute to attracting new foreign investment to Dubai, which has high rates of direct investment growth in high value sectors.”
“This move is in line with the sustained efforts of Meraas and Dubai Holding to realise the Dubai Plan 2021 to diversify the UAE’s economy and promote its sustainable growth through increasing the contribution to GDP of vital sectors, such as tourism and related activities, including luxury yachting and maritime transportation,” he added.
As part of the joint venture, D-Marin will manage the marinas, advise on technical and design aspects for building at competitive cost, provide marketing and advertising support, and create a calendar of marine activities.
Ferit Sahenk, chairman of Dogus Group, said: “Dubai has become an inspiring story over the past decades. As Dogus Group, we have been actively growing in Dubai since 2011 with our real estate and food and beverage business and are very grateful for the opportunities Dubai has offered us.”
“This agreement is a testament to the success of D-Marin in expanding globally…[and] will unite our energies to create world-class marine facilities in the UAE. We are aware of the importance of this partnership as it will contribute positively to the cooperation between all parties and give it much momentum and strength,” he continued.
In the GCC and Middle East in general, there is a growing need for marinas. The region is a major market for luxury yachts, with over 200 yachts requiring a berth in excess of 40m (131ft) in length.
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