Island Global Yachting Announces “Palm Jumeirah Mega Yacht Marina"
06 Oct 2008New Marina will be located adjacent to Trump International Hotel & Tower
DUBAI, UAE (October 6, 2008): Island Global Yachting (IGY), one of the world’s premier owners, developers and managers of luxury marinas and yachting lifestyle destinations, has announced plans to develop and manage Dubai’s first dedicated mega-yacht marina. Palm Jumeirah Mega Yacht Marina will become one of the first megayacht facilities in the UAE, and has an estimated completion date of Q3 2009. It will be located on the west side of Palm Jumeirah’s trunk, adjacent to the Trump International Hotel & Tower.
With an estimated value of $116 million (AED 425 million), the marina will have 75 berths, 30 of which will be capable of accommodating yachts between 50-165m in length. The remaining 45 berths will accommodate yachts between 14-20m in length.
“The Middle East is home to more mega yachts than any other region in the world, so it is fitting that such a magnificent facility should be located in Dubai,” said Michael Horrigan, CEO, Middle East and Europe, for IGY. “Even amidst the current economic climate, demand remains extremely high for these sized yachts, and we are delighted to be able to deliver the magnificent Palm Jumeirah Mega Yacht Marina through our partnership with Nakheel.”
Continued Horrigan, “The Palm Jumeirah Mega Yacht Marina is set to become our global flagship marina, enhanced by the exceptional upland and water based facilities it will offer. Using the business model which we have successfully implemented in our many luxury marinas around the world, we will be able to offer berth holders the very highest levels of service in a stunning environment. At the heart of the marina will be the clubhouse, a members’ only facility with other outstanding design features such as car access on to the pontoons and high level security.”
Te design allows for 75 berths that will provide private yachts with modern infrastructural elements such as spacious pontoons that are wide enough to accommodate two cars side by side, in conjunction with unrivalled amenities available to boat owners, including in-berth fuelling, dockside storage modules, shore-side crew facilities and full berthing utility provisions. The marina will have security checkpoints at the connection to the Palm Jumeirah trunk and the exclusive T-head pier will provide customers with a secure and exclusive location to experience and homeport their vessels.
The luxurious clubhouse located in the centre of the radiating berths will be a “members only” facility and will feature elevated rooftop dining with views looking back to Trump Tower, at the centrepoint of the Palm Jumeirah shoreline, as well as a sunset view toward the Jumeirah skyline with the megayachts in the foreground.
ABOUT ISLAND GLOBAL YACHTING
From the islands of the Caribbean to the azure waters of the Arabian Gulf and other beautiful yachting destinations around the world, IGY is redefining the very idea of luxury marina experiences. Founded in 2005, IGY focuses on acquiring, controlling and/or servicing luxury-yacht marinas and the surrounding upland real estate properties.Island Global Yachting marinas operate under the signature Yacht Haven Grande collection and the IGY series brands, as well as several private labels. Headquartered in Fort Lauderdale, Florida, IGY also has offices in New York, NY; Barcelona, Spain; St. Thomas, USVI; and Dubai, UAE. IGY is an affiliate of Island Capital Group LLC, a real estate merchant banking firm led and founded by Andrew Farkas, former chairman of Insignia Financial Group. For more information, please visit www.igymarinas.com.
