A company of Dubai’s ports operator DP World is set to transform Mina Rashid Marina into the region’s largest and best superyacht destination.

P&O Marinas announced on Sunday that it has signed a deal with Pindar Yacht Management (PYM) to establish a water sports academy, a recreational club and an exhibition space, among others, on its property.

Mina Rashid Marina is a 13-square-kilometre area that is currently known as a leisure and lifestyle destination in Dubai serving yachts, superyachts and cruise ships. 

Under the new agreement, PYM will take charge of transforming the P&O Marinas facility into a world-class recreational hub for the sport and the wider yachting industry. PYM will also organize sailing and promotional activities.

Proponents of the new venture are confident that the deal will support Dubai’s strategy to establish itself as a global tourism destination, as well as strengthen its position in the maritime leisure industry and prop up the company’s growth in a post-COVID-19 scenario.

“We are confident that Mina Rashid Marina will continue to grow in a post-pandemic scenario, as Dubai, the region and the UAE begin gathering momentum for economic recovery,” said Mohammed Al Mannaei CEO at P&O Marinas and executive director of Mina Rashid.

“The partnership between P&O Marina and Pindar Yacht Management sets the stage for the next phase in the development of  Mina Rashid Marina, and provides a host to our ongoing work of transforming it into the region’s largest and best superyacht destination,” said Mannaei.

According to a report by the World of Yachts on February 2018, Dubai is ranked ninth globally for superyacht production. The emirate was also named the fifth largest maritime capital in the world in terms of competitiveness and attractiveness, according to a report by Menon Economics.

(Writing by Cleofe Maceda; editing by Seban Scaria)

cleofe.maceda@refinitiv.com

#DPWORLD #DUBAI #MARITIME

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here

© ZAWYA 2020