Yachting Business Luxury Yacht & Superyacht News

Engaging 29th MYBA Charter Show for CharterWorld’s senior brokers and management in Barcelona

May 12, 2017

Written by Rachael Steele

From the 24th – 27th April Barcelona, Spain hosted the 29th MYBA Charter Show, a trade-only event attended by all levels of the professional yachting industry with continuing improvements in safety and services at the core of the conference.

CharterWorld Senior Brokers Nicolas Benazeth, Martha Lukasik, Josh Burdett, Reia Stannard, Trina Howes and Amanda Brilliante attending the MYBA Yacht SHow

CharterWorld Senior Brokers Nicolas Benazeth, Martha Lukasik, Josh Burdett, Reia Stannard, Trina Howes and Amanda Brilliante attending the MYBA Yacht Show

The show is perhaps the most important event on any professional charter broker’s agenda, offering valuable opportunity to meet fellow industry colleagues, discuss business opportunities and new trends and most importantly provides a possibility to view the latest charter yachts on the market, assessing various aspects as well as meeting the crew on board.

CharterWorld’s Charter Director, Reia Stannard and senior brokers Nick Benazeth, Josh Burdett, Amanda Brillante, Martha Lukasik and Trina Howes attended the four-day event and had the opportunity to board some of the most popular Mediterranean charter yachts and experience life on board, savour the mouthwatering dishes prepared by talented Chefs and served by the crew in order to demonstrate their ability and level of service future charter clients will receive during their vacation.

“We saw some yachts at the show that are normally in the Balearics so it was a good chance to inspect vessels we would not normally see in Genoa, such as DIANE and MENORCA (a superb newly-refitted classic with Edmiston that was probably my favourite boat this year).”

Superyachts in attendance at Port Vell, Barcelona, for the MYBA Yacht Show

Superyachts in attendance at Port Vell, Barcelona, for the MYBA Yacht Show

Previously hosted by Genoa, Barcelona is the new home for the MYBA Show until 2020. The change of location has brought a new set of benefits and challenges, as Josh Burdett commented on the event:

“The layout of the OneOcean Port Vell lends itself really well to the show, allowing a lot of yachts to be shown along one continuous dock and ending the need to be ferried from one side to the other as it was in Genoa. I think from a yacht owner and Broker perspective, everything ran smoothly and was well organised.

“Although poor weather and the travelling distance for some superyachts in the Eastern Mediterranean does mean there were a few no shows – and it may prevent some yachts from attending in future – overall the quality was very high and there was a particularly strong showing of the bigger yachts at the upper end of the fleet.”

Of the largest and most popular yachts currently for charter in the Mediterranean, the event showcased superyachts JOY, ICON, NERO, INDIAN EMPRESS and TALISMAN MAITON.

Sundeck spa pool aboard luxury yacht TALISMAN MAITON at the MYBA Yacht Show 2017. Photo credit CharterWorld

Sundeck spa pool aboard luxury yacht TALISMAN MAITON at the MYBA Yacht Show 2017. Photo credit CharterWorld

“We saw some yachts at the show that are normally in the Balearics so it was a good chance to inspect vessels we would not normally see in Genoa, such as DIANE and MENORCA (a superb newly-refitted classic with Edmiston that was probably my favourite boat this year),” Josh Burdett adds further.

Amanda Brilliante sampled the cuisine on board M/Y INDIAN EMPRESS and M/Y CD TWO and commented on the variety of cuisine on each:

“There was an amazing Indian buffet lunch aboard INDIAN EMPRESS: It was a very very cold rainy day on the 26th of April and lunch was set indoors in main dining room. There must have been an assortment of at least 25 dishes both hot and cold. Approximately 20 guests attended, so quite a warm, congenial atmosphere and an amazing spread of items to choose from.

“Also an excellent lunch the next day on luxury yacht CD TWO – a most innovative Chef Lorenzo created excellent fish dishes, but also a bit of molecular gastronomy going on as well which added a bit of flash to things. The palate cleanser was a fun treat (electric sorbet – it really felt electric on the tongue and lips!) as well as the ice cream cigars which were served under glass with real cigar smoke.”

Motor yacht ELENI at the MYBA Yacht Show. Photo credit CharterWorld

Motor yacht ELENI at the MYBA Yacht Show. Photo credit CharterWorld

During the MYBA charter show the chefs of each vessel competed in two different competitions: the best cocktail as ‘Art in a Glass’, the MYBA Superyacht Chefs’ Competition and the table-scaping competition with the theme: ‘Spring in Barcelona’. Kate Barnett of motor yacht CHEETAH MOON won the first event, impressing the judges with her stylised presentation and creativity with ingredients. The full results for the other competitions are as follows:

2017 MYBA Superyacht Chefs’ Competition results:

Yachts 56 and over

  • 1st place – Dean Conbeer (ICON)
  • 2nd place – Lee Easdon (NERO)
  • 3rd place – Simon Phillips (DOUBLE DOWN)

Yachts from 40 to 54m

  • 1st place – Mikeldi Corcuera (MQ2)
  • 2nd place – James Perry (NASSIMA)
  • 3rd place – Spiro Pavlic (PRIDE)

Yachts up to 39m

  • 1st place – Jean Mathee (TWILIGHT)
  • 2nd place – Daniel Wilbor (TAKARA)
  • 3rd place – Mark Rostant (CHEETAH MOON)

‘Spring in Barcelona’ Tablescaping results:

Yachts 56 and over

  • 1st place – Aly Merill & Cairine Whyte (DOUBLE DOWN)
  • 2nd place – Daniel Wellman (SILVER ANGEL)
  • Special mention: The Stewardesses of luxury yacht NERO for their table setting

Yachts from 40 to 54m

  • 1st place – Malcolm Bowers (TALISMAN MAITON)
  • 2nd place – Megan Rutty (MIRAGE)

Yachts up to 39m

  • 1st place – Holly Eccleson (CHEETAH MOON)
  • 2nd place – Christine Snyder (TWILIGHT)

The attending yachts will be available for charter in the Mediterranean throughout the summer months. For more information on individual availability and on board facilities, contact CharterWorld.

Exclusive Dubai TV interview with Josh Burdett, luxury yacht broker for CharterWorld

March 24, 2017

Written by Rachael Steele

Josh Burdett, a London-based luxury yacht broker for CharterWorld, appeared on Dubai TV to speak on the trends of Arab clients following the 25th edition of the Dubai International Boat Show, which ran from the 27th of February until the 3rd of March.

Photo credit to Dubai International Boat Show

Photo credit to Dubai International Boat Show

Water toys were a prominent and popular subject at the Dubai International Boat Show, where everything was showcased from the latest Seabobs and submarines to the dolphin-like Seabreacher. This is reflected in Middle Eastern clients’ desire for charter yachts with a comprehensive selection of water toys, especially unusual and new toys that push the boundaries of exploration and excitement.

The Dubai International Boat Show reported excellent luxury yacht sales for both local and international brands, with Gulf Craft announcing the sale of its Majesty 135 on the first day of the event and Princess Yachts noting an increase in sales and leads in an industry going from strength to strength. This statement was echoed by Josh Burdett during his interview, who found from his own experience that corporate yacht charters were not hampered by the economic downturn, but the number of charter yachts available in the Middle Eastern region for the provided dates.

With the upcoming Cannes Film Festival and Monaco Grand Prix, a large number of luxury yacht charters in the Western Mediterranean are expected to be by Arab family groups and corporate groups, chartering yachts from 25m up to 100m+ mega yachts. Summer high season prices range from €50,000 per week up into the millions of Euros to reflect the size of the yacht and the facilities available on board.

Josh Burdett has over 12 years’ experience as a yacht charter broker, catering to the exceptional standards and cultural requirements that his Arab clients expect.

Find out more about luxury charters catering to the needs of Arab clientele, the preferred charter destinations and the likely impact of developing Dubai Harbour watching the video below:

 

25th Dubai International Boat Show: 28th Feb – 4th March

January 19, 2017

Written by Rachael Steele

The 25th Dubai International Boat Show (DIBS) is due to take place on the 28th of February at the Dubai International Marine Club in Dubai Harbour. One of the largest luxury yacht and marine product exhibitions in the world, DIBS has grown in scale year on year and this anniversary edition will no doubt be a marked occasion not to be missed amongst luxury lifestyle enthusiasts.

Dubai International Boat Show

Dubai International Boat Show

As a top tier luxury yachting event, yacht builders and designers worldwide will be present to showcase the latest design innovations and fashion trends. The five-day event will cover all aspects of yachting lifestyle products, including:

  • 24m+ yachts
  • Leisure boats, motor boats and tenders
  • Luxury and marine-related services
  • On board equipment and supplies
  • Fishing equipment and supplies
  • Sailing and water sports
  • Diving equipment and supplies, and
  • Retail outlets for supercars and food will also be available on-site.

A new wave of local luxury yacht owners is expected to spring from this event, which coincides with news of large-scale developments along the Dubai waterfront, amongst which are plans to create the largest marina in the Middle East and build a waterway through the city.

Dubai Harbour

Dubai Harbour

Other developments in the 20 million square foot Dubai Harbour Project include the 135 metre high ‘Dubai Lighthouse’ tower that will contain a luxury hotel and observation deck, a 150,000 sq ft cruise liner terminal that can manage 6,000 passengers at a time, a yacht club, shopping centre, hotels and residences. The current Dubai International Marine Club will receive a new monorail and road networks to link it to Skydive Dubai and Logo Island as well. This ambitious project is expected to take four years to complete from its commencement and will cement Dubai’s reputation as a global tourist destination and further boost its regional popularity.

Trixie LohMirmand, Senior Vice President, Events Management, Dubai World Trade Centre said: “The Dubai International Boat Show has always catered to the needs of the boating community and has grown over the past 25 years to accommodate the expanding marine industry. Developments such as the Dubai Canal Extension and the recent announcement of the Dubai Harbour project, featuring exclusive berthing facilities for super yachts up to 85m long, will continue to have a tremendous impact on both the show and the emirate’s reputation as a globally recognised marine hub.”

Thailand Yachting Forum highlights hidden gem charter grounds

December 23, 2016

Written by Rachael Steele

Yacht industry experts and representatives from various Thai government departments discussed updates to regulations and licensing for charter boats in Thai waters at the Thailand Yachting Forum earlier this month.

The Thai Yachting Forum preceded the Thailand Yacht Show. Photo credit: Phuket Best Group

The Thailand Yachting Forum preceded the second Thailand Yacht Show (15-18 December 2016).
Photo credit: Phuket Best Group

Drawing attention to the value of marine tourism along Thailand’s coastline, Vincent Tabuteau of the Thailand Marine Business Association (TMBA) spoke on the state of yachting in the Andaman Sea. Despite the destination being well known within Thailand, Tabuteau commented on how the TMBA was often surprised at how few overseas charter brokers are knowledgeable about the region. The result is a knock-on effect of fewer visiting superyachts when the infrastructure exists to service them: With the coastline consisting of fully established facilities for bareboat day charters and long-term luxury yachts of all sizes, promotion was essential to the region’s continued development. “Thailand and the Andaman desperately need more promotion overseas. Right now, we are training our clients to come here, and to come back again.”

Tabuteau was not alone in speaking up for greater promotion of Thailand’s underused charter grounds: CEO of Gulf Charters Ron Patston estimates that boating activities, including luxury charters and regattas, contribute approximately THB 165m ($4.6m USD) annually to the Thai economy, with the potential for the figure to grow.

Ron Patston, CEO of Gulf Charters  Photo credit: Phuket Best Group

Ron Patston, CEO of Gulf Charters
Photo credit: Phuket Best Group

Comparing the reputation of the Gulf of Thailand to the Andaman Sea, “The Gulf of Thailand is almost entirely unknown to overseas charterers. There are only 10 bareboat charter boats operating in the Koh Chang area. A week is hardly enough for a cruise. The water is clear as gin, there are almost no navigational hazards, and onshore facilities range from 6-star resorts to small beach bungalows.”

With over 1,000 nautical miles of Thai coastline to explore, 2,500 marina berths and onshore destinations both modern and historical, Thailand has much to offer tourists of all budgets.

The Thailand Yachting Forum began the Thailand Yacht Show (running from 15-18 December), in Phuket. Now in its second year, the Thailand Boat Show aims to promote the country as an alternative to the Mediterranean and Caribbean, particularly as a winter destination.

Koh Chang, Gulf of Thailand

Koh Chang, Gulf of Thailand

 

Facilities expand to meet demand in Dutch superyacht market

June 27, 2016

Written by Rachael Steele

25 luxury yacht deliveries are expected from Dutch yacht builders in 2016. In 2015, Dutch shipyards launched 22 superyachts – six more than the year before – and totalling a worth of €1.18 billion. On top of the 22 launches in 2015, members of the HISWA Holland Yachting Group also received 24 new superyacht orders, which was an increase of more than a quarter compared to 2014.

Feadship - New Amsterdam facility location

Feadship – New Amsterdam facility location

The recent increase in demand for superyachts has created an atmosphere for expansion in the Netherlands. Feadship has recently announced it will open a fourth manufacturing and refit facility in Amsterdam, and fellow members of HISWA Holland Yachting Group are finding creative solutions to the escalation in orders and deliveries.

“There are a number of key reasons why the superyacht industry in the Netherlands has come through the global downturn in rude health,” Jeroen Sirag, export director for the HISWA Holland Yachting Group, comments. “One critical factor has been a longstanding commitment to investing in the future during both good times and lean, with Dutch yards keen to ensure they retain their globally recognised lead in quality and innovation. The same applies to the Dutch equipment suppliers who consistently seek new ways to ensure their first-class products and technologies adorn the finest superyacht builds both in the Netherlands and further afield.”

Heesen Yachts has expanded to meet growing demand from clients for larger superyachts by constructing a new 85 metre dry dock in Oss. The facility is expected to be operational by October this year. The sailing yacht sector has also seen expansion: Royal Huisman and Holland Jachtbouw have both increased their build hall capacity.

Heesen Yachts - GALACTICA STAR, launched May 2015

Heesen Yachts – GALACTICA STAR, launched May 2015

Dutch marine equipment supply companies are also making significant changes. Hydromar Marine Equipment moved to a new production facility during 2015 to strengthen its relationship with Cramm Yachting Systems as they continue to make and market superyacht hydraulics. Van Berge Henegouwen has not only moved into Amsterdam offices which include a professional workshop and testing facilities, they have also opened a new office in Antibes, France to be ‘closer to the yachts and… improve support and service for our customers’.

Van Berge Henegouwen isn’t the only company expanding abroad as Huisman Maritiem, Heinen & Hopman add offices and facilities across the Mediterranean and De Keizer opens its seventh location in West Palm Beach, Florida.

“All these new initiatives and investments showcase how the members of the HISWA Holland Yachting Group are looking to continue offering the best possible services to their clients,” concludes Sirag. “Equally important, of course, is the industry-leading experience and skills of the workforce at the various yards and supply companies. This remains the backbone of the Dutch superyacht cluster and the number one reason why Holland continues to rule the waves.”

P/R: The Future of Yacht Chartering Conference in Barcelona

June 25, 2016

Written by Rachael Steele

With the growing popularity of luxury charters beyond familiar coasts and classic locations, more and more destinations are opening up around the world. Exciting as greater choice is, concerns need to be addressed regarding customs, taxation and regulation. ‘The Future of Yacht Chartering’ conference is due to take place in Port Vell, Barcelona on the 11th of October with the aim of answering these issues. The following is a press release from Quaynote.

Press Release

The Future of Yacht Chartering to take place in Barcelona on 11th October

With Spain reporting an impressive upswing in the local chartering business, and new destinations becoming more accessible, the charter business is gearing up for more expansion.  As opportunities emerge, so do new challenges, with port state control, the customs code and taxation issues raising causing concern amongst many industry players.  As charter brokers, managers, corporate service providers and others seek clarification of regulatory changes, a new one-day conference will put the chartering, marinas and destinations under the spotlight.

Port Vell, Barcelona

Port Vell, Barcelona

The Future for Yacht Chartering takes place on 11th October, 2016, and is located appropriately at the stunning OneOcean Port Vell, in Barcelona, Spain.  Support for the conference has, not surprisingly, matched the growing interest in chartering in the region, with the Barcelona Nautical Cluster and Superyacht Business officially backing The Future for Chartering.  Official Sponsors and exhibitors include One Ocean Port Vell, whose General Manager, Paul Cook, will also be presenting, and local tax experts TaxMarine.

Chaired by Pat Bullock of Network Marine Consultants, the conference will be produced by Quaynote Communications, superyacht event specialists and the organisers of Opportunities in Superyachts and Opportunities in Business Jets, the twin conferences run in in Malta over the last 4 years.

“There are still a lot of issues to discuss in connection with yacht chartering in Spain and further afield”, explains Quaynote Director, Lorna Titley, “The conference will discuss what needs to be done to ensure the best experience for charterers, with a particular focus on the service offered by marinas and local tourism; what to do when the demand for yachts outstrips supply; the process of applying for a charter licence, as well as a look at which chartering destinations are set to be the must-see hot-spots of tomorrow”.

With international relations with Cuba gradually thawing out, there is a lot of interest in prospects for chartering in Cuban waters.  Bransom Bean, Consultant to Paul Madden & Associates, will examine the latest developments in the island’s fledgling charter business and asks what “wide open” really means for the superyacht industry.  Continuing the theme of emerging destinations, The Future of Yacht Chartering will journey across to Norway, to hear from what the Nordic fjords can offer superyacht charterers.

“As charterers become more adventurous, some are of course branching out from the well-charted cruising grounds in the Med and Caribbean and seeking pastures new”,  notes Alison Director, Director at Quaynote.  Ola Hiis Bergh of Norway Superyacht Services will be looking at how to explore this beautiful but somewhat overlooked virgin territory by yacht.

With the historic and scenic city of Barcelona providing the perfect backdrop, The Future of Yacht Chartering is the perfect destination for marinas operators, charter brokers, superyacht managers, lawyers, regulatory authorities, yacht registries, captains, industry associations and anyone with a vested interest in the growth of yacht chartering.

P/R: Sunseeker to recruit over 200 skilled staff in UK

June 21, 2016

Written by Rachael Steele

Popular luxury yacht manufacturing company Sunseeker has announced plans to increase its staff at its UK headquarters and main assembly facility in Poole, Dorset.  Originally looking to recruit 100 new employees, that figure has more than doubled to ensure its future models for 2016 onwards to ensure timely delivery and outstanding quality.

The following is a press release from Sunseeker International.

Press Release

SUNSEEKER TO RECRUIT 225 NEW SKILLED STAFF AT ITS UK MANUFACTURING FACILITIES

Sunseeker International has announced that it is now looking to recruit 225 new skilled staff, an increase on its original plan for 100 new employees to support the introduction of several new models planned for 2016. The new roles will be based at its manufacturing operations in Dorset, covering construction trades including Carpentry, Plumbing and Electrical, Boat Building, plus Engineering trades including Mechanical Engineering, and Composites – GRP Laminating and GRP Finishing.

Recruit
Successful Candidates will be based at Sunseeker’s Poole headquarters and will be instrumental in helping to build boats like the stunning 116 Yacht above.

Commenting on the recruitment drive, Sunseeker’s CEO Phil Popham said: “We are pleased to announce these recruitment plans which give a clear signal of the positive times ahead at Sunseeker. We have a clear and robust business plan to invest in long term growth and sustainable success, backed by our majority shareholder Wanda Group whose stable ownership and strong financial backing enables us to plan and invest for the future. Our forward order book for 2016 and beyond is looking very strong, currently up 55% over the same period last year.

sunseeker(r) col
‘Come and join the family of over 5000 employees worldwide that help to make Sunseeker the inspirational brand that it is.’

Expanding our highly skilled workforce is a key part of our planned investment, and with the introduction of a number of new boat lines in 2016 we are able to recruit 225 new skilled staff to support future growth. This recruitment drive is underway and will conclude in the first half of the year, bringing our total employee number to around 2,150.”

factory
With 17 stunning models currently being built by Sunseeker, they are constantly striving to bring innovation and new ideas to the marine industry.

P/R: Boat Builder Awards from IBI METSTRADE welcoming nominations

June 21, 2016

Written by Rachael Steele

The 2016 IBI METSTRADE Boat Builder Awards is now taking nominations until the beginning of August. The categories celebrate creativity and achievement within the boat construction and marketing industries and after nominations are cast, the results will be announced at the gala dinner on November the 16th at the National Maritime Museum in Amsterdam.

The following is a Press Release for the IBI METSTRADE Boat Builder Awards.

Press Release

Nominations open for IBI METSTRADE Boat Builder Awards 2016

Companies are encouraged to nominate for any of this year’s eight award categories

Nominations are now open for the second Boat Builder Awards for Business Achievement in association with Raymarine, organised jointly by IBI and METSTRADE. Visitors to the awards’ dedicated website, Boatbuilderawards.com, are encouraged to nominate for any of this year’s eight award categories by following the quick and easy online process. The prestigious awards recognises and rewards the outstanding business achievements of individuals and teams within a number of key areas in the global leisure boat building industry.

The awards categories are:

  • Retail marketing initiative
  • International distributor/dealer development
  • Boatbuilder and equipment manufacturer collaborative solution
  • Innovative onboard design solution
  • Innovation in a production process
  • Environmental initiative
  • Best apprenticeship and training scheme
  • Lifetime achievement award

Judging for the awards, to take place at a gala dinner on November 16 at the National Maritime Museum in Amsterdam, will be based on nominations submitted via Boatbuilderawards.com, which will then be scrutinised by a soon-to-be-announced international panel of judges. The shortlisted entries will be invited to attend what promises to be another spectacular evening under the glittering dome of the National Maritime Museum’s historic courtyard.

For more information about the event and how to nominate, visit www.boatbuilderawards.com

Nauta Air 108 Motor Yacht NARVALO Hits Water at Cantiere Delle Marche

June 01, 2016

Written by Eva Belanyiova

Cantiere Delle Marche has announced the launch of the Nauta Air 108 motor yacht NARVALO, a striking 33m explorer vessel constructed of aluminium and steel. She was built for a South American owner and yachtsman, and will see her public debut at the upcoming Cannes Yachting Festival in September.

NAUTA AIR 108 Explorer Motor Yacht NARVALO

NAUTA AIR 108 Explorer Motor Yacht NARVALO

NARVALO is a custom made displacement vessel and spreads over three decks. She was designed by Nauta Design, the same Italian studio that has designed the largest mega yacht in the world – AZZAM.

Nauta Design provided NARVALO with many unique characteristics that make the onboard living even more comfortable for her owners and their guests, especially during long-distance cruises. The upper deck, just behind the wheelhouse, boasts a sky lounge only a few square metres smaller than the main saloon. The deck features over 50 square metres of outdoor space, such as a fabulous dining are and a well for a 5,5-metre tender making her possibly the best and most accessorised unit ever constructed by the company.

NARVALO

NARVALO

The sun deck also acts as a fantastic observatory and a fabulous place to entertain friends and family. There is a dedicated sunbathing area, a whirlpool as well as a dining and cocktail area for refreshments. The main feature of the sun deck is her beautifully designed bar around which the entire deck revolves.

The lower deck offers accommodate in four guest suites, all of which are larger than expected on a yacht of this size. There is a very spacious lobby offering guests an excellent space for relaxation.

The crew area hosts plenty of storage space with the subdeck entirely dedicated to provisions, allowing the yacht to remain at sea for weeks without the need to dock for resupply. The owners of NARVALO are both lovers of luxury and elegant lifestyle, as well as the great outdoors: this yacht is able to offer the best of both worlds with her Nauta Air style and the innovative Hydrotec technical specifications.

Porto Montenegro Marina and Resort Popular with Discerning Yacht Charterers Bought by Investment Corporation of Dubai

May 13, 2016

Written by Eva Belanyiova

An increasingly popular destination for superyachts in the Eastern Mediterranean and the Adriatic, the Porto Montenegro Marina and Resort has now been bought by the Investment Corporation of Dubai (ICD), which acquired the upscale yacht marina and waterfront development situated in Montenegro from Montport Capital.

Porto Montenegro in the beautiful superyacht charter destination Montenegro in the Eastern Mediterranean

Porto Montenegro in the beautiful superyacht charter destination Montenegro in the Eastern Mediterranean

The waterfront development is situated in the stunning Bay of Kotor, a UNESCO World Heritage site and provides a lifestyle community for boat and yacht owners, residents and tourist. Porto Montenegro has established itself as a superb destination for private yachts as well as superyacht charter visitors alike and has received an award as the ‘Superyacht Marina of the Year’ in 2015.

The decision to buy Porto Montenegro Marina and Resort is in line with ICD’s strategy to add top quality international assets in fast-growing markets to its substantial portfolio. The acquisition represents ICD’s first investment in Montenegro and the yacht marina sector, both of which are expected to grow significantly in the near future.

The internationally renowned Porto Montenegro presents an opportunity for ICD to access a successful business with significant potential for development expansion, both in the marina and landside,” said His Excellency Mohammed Al Shaibani, Executive Director and CEO of ICD. “It also represents a strategic fit with our expansion plans into international luxury real estate and hospitality sectors whilst providing exposure to a new geography.”

Porto Montenegro was founded and developed by Peter Munk, a Canadian entrepreneur, founder of Barrick Gold of Toronto – the world’s biggest listed minim company – who, with an international group of investors led by Lord Rothschild, envisioned and financed the transformation of a derelict base into an important superyacht and yacht charter destination for discerning clientele from around the world, in just under ten years.

Executed and managed from inception by Managing Director Oliver Corlette and his team, the development has always enjoyed the support of the Prime Minister of Montenegro, his Government, and the people of Tivat and Montenegro.“The Government of Montenegro has recognized from the very beginning and has supported the idea to position Montenegro as a leading superyacht destination on the Mediterranean, which has been fully realized by Mr. Peter Munk and his team of experts through the development of Porto Montenegro Project,” said Prime Minister Milo Djukanovic. He added: “The Government shall continue with the new investors the cooperation in implementation of a clear nautical tourism development strategy in Tivat and Boka Bay, and will continue to work together on further positioning of Montenegro as a high-end tourist destination.”

Peter Munk, the majority shareholder of Montport Capital, owner of Porto Montenegro Marina and Resort, said, “I’m enormously proud of what has been accomplished at Porto Montenegro. It has helped transform the perception of Montenegro throughout the world, has sharply increased the country’s tourism revenue, and has created thousands of direct and indirect jobs. The Investment Corporation of Dubai is the ideal party to take the resort to the next level, and to maximize its virtually unlimited potential. With this transaction, I am confident that I am leaving Porto Montenegro in very safe hands.”

In addition to 450 berths already built and fully occupied, and with the necessary approvals in hand to build another 400 berths plus develop land with a BUA of 280,000 square meters, the resort has the potential to double in size and become the leading luxury yacht port on the Mediterranean. “Looking ahead, our aim is to realize Porto Montenegro Marina and Resort’s full long-term potential,” added Al Shaibani.

“Our priority at ICD is to support management in the fulfillment of its ambitious plans, and to further establish Montenegro as a prime European yachting destination,” Al Shaibani added.

ICD is currently developing the Royal Atlantis Resort and Residences, a set of hotel rooms, suites and luxury apartments that will grace the shores of Palm Jumeirah, facing Atlantis. Last year, ICD acquired stakes in three luxury hotels across the world: the W Hotel in Washington D.C., the Mandarin Oriental in New York, and the One&Only in Cape Town, South Africa. It also owns significant equity interest in Kerzner International Holdings Limited (KIHL), the international operator of the One&Only, Atlantis and Mazagan brands.

ARE YOU INTERESTED IN AN UNFORGETTABLE MONTENEGRO YACHT CHARTER?

If Montenegro has caught your attention and you would like to explore this beautiful country aboard a superyacht this summer, don’t hesitate to contact us and speak to our brokers about the perfect made-to-measure itinerary for you, your family and friends. We have access to a wide selection of fantastic luxury yachts in all sizes and styles currently offering yacht charter in Montenegro and are able to provide you with an unbiased advise and gratuitous assistance.