Dubai aims to become ‘global yachting capital’

Today, Dubai-based holding company, Meraas, has announced that together with global investment company, Dubai Holding, the two entities will partner with marina management company, D-Marin to establish Dubai as a global capital for luxury yacht marinas.

Together with Dubai Holding, Meraas has announced that an agreement has been signed with D-Marin, a Dogus Group company that operates some of the largest marinas in the Eastern Mediterranean.

The signed agreement sets forth plans to attract international investments in yachting and other supporting sectors in order to promote Dubai as a yachting destination.

The joint venture agreement was signed by His Excellency Abdulla Al Habbai, group chairman of Meraas and chairman of Dubai Holding, and Ferit Sahenk, chairman of Dogus Group, the parent company of D-Marin. The agreement marks the commitment by both Merraas and Dubai Holding to contribute to the diversification and growth of Dubai’s economy.

The partnered organisations hope to enhance the position of Dubai as a major holiday and marine tourism destination, including the management and operation of the existing and future marinas being developed by Meraas and Dubai Holding.

The partnered organisations hope to enhance the position of Dubai as a major holiday and marine tourism destination, including the management and operation of the existing and future marinas being developed by Meraas and Dubai Holding. In a statement to the press, Meraas says that this agreement will also lead to the establishment of a regional centre with global standards for superyacht refits, service and maintenance in Dubai, similar to that of D-Marin backed MB92, which is currently serviced by branches in Barcelona and La Ciotat.

“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 world’s most business-friendly countries,” says Al Habbai. “This agreement will contribute to attracting new foreign investment to Dubai, which has high rates of direct investment growth in high value sectors.”

Comprised within the Dubai Plan 2021, the Dubai government has set out plans to diversify its economy and promote sustainable growth through increasing the contribution to GDP of vital sectors, which includes the luxury yachting sector.

Comprised within the Dubai Plan 2021, the Dubai government has set out plans to diversify its economy and promote sustainable growth through increasing the contribution to GDP of vital sectors, which includes the luxury yachting sector. The sustained efforts of Meraas and Dubai Holding is directly in line with this move.

“Dubai has attractive comparative advantages in the marina sector due to the UAE’s long-standing maritime heritage,” continues Al Habbai. “This strategic agreement with D-Marin will harness the combined expertise to develop marina facilities and services and provide infrastructure, as well as enhance Dubai's presence and status as a favourite destination for yacht owners and users around the world.”

“More marinas are needed in the UAE as demand for the region continues to grow,” remarks Meraas. The parties involved in the project are making efforts to boost the yachting infrastructure in Dubai, and thus, further develop the region.

“More marinas are needed in the UAE as demand for the region continues to grow,” remarks Meraas. The parties involved in the project are making efforts to boost the yachting infrastructure in Dubai.

“Dubai has become an inspiring story over the past decades,” extols Sahenk. “At Dogus Group, we have been actively growing in Dubai since 2011 with our real estate and food and beverage business and we are very grateful for the opportunities Dubai has offered us. Through this partnership and our regional centre in Dubai, we will invest in the long-term potential of this city and look forward to taking advantage of opportunities in the management and development of marinas in the GCC region.

“This agreement is a testament to the success of D-Marin in expanding globally,” Sahenk continues. “The partnership with Meraas and Dubai Holding will unite our energies to create world-class marine facilities in UAE. We are aware of the importance of this partnership as it will contribute positively to the co-operation between all parties and give it much momentum and strength. We thank Meraas and Dubai Holding for the trust they have placed in us and reaffirm our deep commitment to cementing this partnership with many achievements.”

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