G-Marin of Malta and Island Global Yachting, developers and managers of luxury marinas and yachting lifestyle destinations, announced a new strategic relationship.
G-Marin is creating a new company to oversee all marina development and operations in the Middle East and North Africa at a level consistent with IGY's standards. It will be based in Dubai, United Arab Emirates, and is now seeking marina development, investment and managing opportunities in the region.
"We are pleased to announce this next evolution of the marina industry in the Middle East," said Andrew Farkas, chairman and founder of IGY, in a statement. "This relationship further establishes the legacy that was set in place by IGY for the emerging marina market of the Arabian Gulf, and will continue to deliver the area's finest nautical lifestyle destinations with signature service and style."
The new alliance will not impact IGY's operations in the Americas, Caribbean, or Europe, the company said, but it will encompass the company's interests in Dubai and current and future projects in the Middle East and North Africa.