Search DubaiPRNetwork.com

Home >> Banking & Investments

P&O Marinas Partners with Monaco for Projects in Mediterranean and Worldwide

P&O Marinas Partners with Monaco for Projects in Mediterranean and Worldwide

Tuesday, May 8, 2018/ Editor -  

Share

Home >> Banking & Investments

DP World subsidiary to work on chain of superyacht marinas in exclusive agreement with Ports of Monaco

Dubai, UAE, 08 May 2018: DP World Group subsidiary, P&O Marinas has announced an agreement with Monaco government owned Société Monegasque International Portuaire (SMIP) to work on selected marina projects in the Mediterranean and other locations around the world.

A Memorandum of Understanding (MoU) has been signed in Monaco to invest, develop and manage yachting destinations dedicated to superyachts. The agreement was signed by Mohammed Al Mannaei, CEO of P&O Marinas and Mr. Aleco Keusseoglou, Chairman of SMIP in the presence of Mr. Rado Antolovic, CEO & MD of P&O Maritime, Mr. Gian Battista Borea d’Olmo, Executive Director of SMIP, Ms Fabiana Maccarini, Research and Development Officer, P&O Marinas and Mr Daniel Realini, Technical Director of SMIP.

P & O Marinas manages the calm seaside “Mina Rashid Marina” project in Dubai. There are three phases; the first, which was launched last November, features 500 quays, and the other two, once finished, will be able to harbour 20,000 yachts. 

The new marina, which is called Marina Cube, is expected to be a new tourist maritime and entertainment attraction, stretching over 13 square kilometres, featuring a number of facilities, including an integrated entertainment city. 

Mohammed Al Mannaei, CEO - P&O Marinas & Executive Director - Mina Rashid said: “The marinas and superyachts market is a growing part of our business and we are building on Dubai’s heritage and expertise in this sector having already established it as a centre for cruise and marina development following the wise vision and directives of our leadership. 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.”
Al Manaei pointed out the close cooperation with other authorities in the luxury yachts segment helps boost tourism and foreign investment in the emirate.  

Mr. Aleco Keusseoglou, Chairman of SMIP, said: “We are delighted to collaborate with P&O Marinas on the development of joint projects in the superyacht sector. Monaco is world famous superyacht destination and Dubai has established a global reputation for its own marina developments. We believe that by combining our forces with a global market provider we can expand our operations across the Mediterranean and further afield. Clients will benefit from the experience and combined resources that each company bestows.”


Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

Ministry of Infrastructure Development and Masdar agree to promote sustainable p ...

Dubai Health Authority holds summer training program for Emirati students.

Official Sponsor of the 2018 FIFA World Cup Russia™, Hisense, gets the game on t ...

Food Listing: Go Light with Organic & Real.com Munchies

United Arab Bank Announces Financial Results for H1 2018

Sharjah continues to become more affordable, with rents and sales prices falling ...

What's happening at Nakheel Malls during DSS (Ibn Battuta Mall & Dragon Mart)

Samsung Brings Its Signature Infinity Design Philosophy to the All-New Galaxy J8

Launch of Goon Brand - Japan

Susie Wolff: Formula E doesn't need F1 drivers

Al Naboodah Group Enterprises announces new contracts worth over AED 750 million

Emirates Post Group issues commemorative stamp celebrating 34 years of UAE-China ...

ENOC Group supports Smart Stores EXPO

Al Tayer Motors Enters Fast Vehicle Servicing Business

Dubai Islamic Bank and Emirates Skywards soar to new heights launching co-brande ...

Martin Retains Top 10 in General Classification as Late Puncture Hampers Stage 1 ...

Mubadala illuminates IPIC Square and Abu Dhabi Global Market

Ericsson, Telstra and Intel achieve first end-to-end multi-vendor 5G commercial ...

Etisalat iconic buildings light up in red to celebrate Special Olympics' 50th an ...

Dubai Culture Participates in ‘UAE China Week 2018'