Camper & Nicholsons Marinas reached an agreement with First Eastern Investment Group, a pioneer of direct investments in China, to develop the marina sector in China and Asia.
Camper & Nicholsons recently designed four marinas in China and is working on several other projects that include long-term management agreements in what has become the world’s largest growth market for marina development and operation, the company said.
First Eastern also will be investing about $3.9 million in Camper & Nicholsons through the purchase of new shares.
This continues the expansion of Camper & Nicholsons Marinas’ business worldwide after its recent appointment to manage Yas Marina in Abu Dhabi, and the announcement of a partnership with BR Marinas — Brazil’s leading marina operator — to develop marinas in Brazil. Camper & Nicholsons already operates its own marinas in Malta, Turkey and Grenada.
The joint venture will be called Camper & Nicholsons First Eastern, and it shortly will open its Hong Kong office with Mandarin-speaking staff. Representative offices also will be established through First Eastern’s network in Beijing and Shanghai.
To facilitate this development, Camper & Nicholsons named James Beaver chief operating officer. Nick Maris, CEO of Camper & Nicholsons Marinas, will also be CEO of the joint venture, which will be chaired by Victor Chu, chairman of First Eastern.
“Our objective is to give yachtsmen, wherever they are in the world, the same high standards of service, with a local flavor, that they have come to expect from Camper & Nicholsons. Our joint venture with First Eastern will lead to some truly outstanding C&N-operated marinas in China and elsewhere in Asia,” Maris said in a statement.