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

Data analytics and cyber security will be key to improving aviation safety

Oman UAE Exchange Launches Online Money Transfer Service

Bawabat Al Sharq Mall is all set to welcome an exciting festive season with 'Wi ...

UAE students win top awards at international math competition in Malaysia

'Introducing the GUESS Jeans Fall 2018 Collection'

Undersecretary of the Ministry of Energy and Industry addresses the Middle East ...

Santa is Coming to Town!

Dubai Shopping Festival Wednesday Specials at The Smile Bar

Etisalat first telco to provide Home Insurance solution

flydubai announces new fare structure offering passengers more choice

Aetna International paper examines the role of behavioural and genetic data in d ...

Schneider Electric presents Villaya Emergency for easier access to energy in eme ...

Arla Foods launches initiative with UAE Ministry of Education to promote healthi ...

Els Back for the 30th Omega Dubai Desert Classic Aiming for a Record Fourth Vict ...

Ring in the New Year With Four Firework Shows at Dubai Festival City Mall

Young photographers invited to take part in empowering Unified Photography Works ...

9th Edition of China Homelife Exhibition to Have Over 3000 Exhibitors Across Bus ...

His Highness Sheikh Saud discusses collaboration with British Consul-General And ...

Julphar to Launch Wearable Insulin Delivery Device in GCC

Interview with Asil Attar, CEO of Al Yasra Fashion