Kingdom of Saudi Arabia, NEOM: — NEOM and leading superyacht maintenance company, MB92 Group, have announced a partnership to establish a 10,000 square-meter repair facility for yachts at NEOM’s luxury island and yachting destination on the Saudi water of the Red Sea, Sindalah.
The partnership aligns with the imminent opening of Sindalah during 2024 and will be the first of several yacht repair centers in NEOM, responding to the anticipated growth of visiting and resident yachts, in the region in the coming years.
The new facility will provide yacht owners travelling to the Red Sea with access to MB92 Group’s experience in addressing the intricate repair demands of yachts and superyachts. It also mirrors NEOM’s vision of building a maritime destination in the region, with both partners committed to offering dependable, efficient, and sustainable solutions for maintenance or repair requirements. As such, the construction of the new center will prioritize sustainable development within its design, processes, and equipment.
NEOM Islands Executive Director, Aayush Killa, said: “Teaming up with MB92 Group reflects our commitment to becoming a distinctive yachting destination. This venture embodies our dedication to delivering world-class infrastructure and services to support yachts visiting the Red Sea."
MB92 Group Chairman, Pepe García-Aubert, said: “We are extremely excited to be a part of the remarkable NEOM project and embrace the opportunity that this partnership represents. We envision this as merely the beginning of a lasting and meaningful collaboration, allowing us to provide the local yachting community with a world-class refit and repair service in this incredibly beautiful region with so much to offer.”
The repair center will commence operations with a comprehensive repertoire of services including onboard electrical, mechanical, and hydraulic system repairs. The center will be capable of welcoming yachts of all sizes for in-water works and will extend its expertise to vessels of up to 40-meters in length for drydock operations.
NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.
NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.
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About MB92 Group
MB92 Group is an internationally renowned specialist in the field of superyacht maintenance, refit, and repair, managing state-of-the-art shipyards strategically located in Barcelona and La Ciotat.
Founded in 1992 as Marina Barcelona 92 SA, the Group manages approximately 200 projects each year on superyachts up to 180-meters in length and has a growing workforce of 350 employees.
MB92’s approach centers around proactive investment in people and facilities, aimed at continually adding value for their clients and communities. The Group strives to deliver excellence in superyacht refit and maintenance worldwide by listening, learning, and innovating to grow its business sustainably and develop solutions that provide a positive impact for the superyacht industry.
In 2023, MB92 Group launched "Refit for the Future!", the world's first dedicated sustainability refit service tailored for superyacht owners looking to reduce the environmental impact of their yachts, reduce operating and financing costs, and protect re-sale value.
This material is distributed by Teneo Strategy LLC on behalf of NEOM Company. Additional information is available at the Department of Justice, Washington, DC.