Do?u? Group, one of the largest conglomerates in Turkey, joined Island Global Yachting and Nautical Center Prgin as a development partner in the expansion and renovation of the Mandalina Marina & Yacht Club in Croatia.
As part of this agreement, Do?u? will be an equity partner and will oversee construction, with its company Do?u? Construction, for the project under an IGY-Do?u? development joint venture.
In February, IGY and NCP announced plans to add 65 megayacht berths to the existing 350 wet-slip/50 dry-dock marina, transforming it into the new Mandalina Marina & Yacht Club, Croatia's first dedicated megayacht marina.
Mandalina Marina remains fully-operational during the development and renovation and is already welcoming megayachts for the 2009 season.
The signature "marina village" at the Mandalina Marina & Yacht Club is currently in the planning stages and will be further developed by Do?u?, IGY and NCP over the coming months.
"We are pleased to align with the Do?u? Group, as we continue the development of the new Mandalina Marina & Yacht Club," said Andrew Farkas, founder and chairman of IGY, in a statement. "This agreement creates a very strong partnership comprising the foremost Croatian maritime brand, a leading regional conglomerate with a strong maritime brand in the Eastern Mediterranean, and the world's premier marina developer and operator."
Founded in 2005, Fort Lauderdale-based IGY focuses on acquiring, controlling and/or servicing luxury yacht marinas and the surrounding upland real estate properties.