Mourjan Marinas IGY, the luxury developer and manager of marinas and yachting destinations based in Dubai, has allied with the Moroccan investment firm Libra Capital to start the master plan for an exclusive waterfront project in the southwest of Morocco.
This project would include hotels, golf courses, retail and dining outlets, and a marina with a substantial number of berths for mega yachts.
Mourjan Marinas IGY will lead marine environmental studies, commercial viability, and feasibility studies ahead of construction of the Riviera Waterfront project. Michael Horrigan, CEO of Mourjan Marinas IGY, said, »It is with great pleasure that we start work with Libra Capital to ensure successful and smooth operations in the run up to the construction, development, and management of this world class venture for Morocco. » Read the rest of this entry »
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The exiled oligarch was forced to sell the 360-foot vessel, named Darius, to one of the world’s richest Arab dynasties after failing to raise the funds to meet contractual payments.
The yacht suffered serious flood damage due to a leaking porthole while it was being built at a shipyard in Bremen, Germany.
He sold the boat to the Al Futtaim family from the United Arab Emirates at a cut-price of £200 million in October 2008.
But now the High Court has ordered him to pay £6 million to the yacht brokers Edmiston & Company after ruling that he owed the company commission for their role in marketing the part-finished yacht. Read the rest of this entry »
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With the summer season, a sense of normality has finally returned to the luxury yacht market.
Although we may be some way short of the heady days of 2008, the last few months have seen a gradual increase in yacht sales, yacht management and crew placements. Unfortunately the uptake of yacht charters and new-build projects has continued to suffer, but while this represents bad news for owners, charter brokers and construction yards, those looking for cut-price charters and new-builds will be rewarded as long as they act quickly.
During the month of June we experienced a very active market with an average of one yacht (over 24m) being sold each day. Read the rest of this entry »
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The intelligent magazine for living, loving and luxury yachts
The Superyacht Art Agency has just published the new look fraser, a dynimically different magazine.
Fraser is written and compiled by a host of specialists in all fields, writers and contributors who excel at living, life and all things amazing. They have a passion for exclusive travel enjoying exquisite food and wine, travelling on the world’s most somptuous yachts and while on board, meeting incredible characters.
Fraser magazine will travel the globe in search of the most luxurious and wondrous things that only the fortunate few can ever encouter or enjoy. It will deliver intelligence, artistic and fresh material, and make sure that you are aware of everything that is interesting and relevant to your life.
In this issue… Read the rest of this entry »
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More high profile speakers have been confirmed for the Yacht Racing Design & Technology Symposium
Join us on 14-15 December in Estoril, Portugal for the second edition of the YRDTS and learn from industry experts including:
* Andrew Macfarlan, Head of Composites, Red Bull Technologies
* Patrick Shaughnessy, Vice President, Farr Yacht Design
* Eddie Owen, CEO, Royal Offshore Racing Club
* Jason Ker, Designer, Ker Yacht Design Read the rest of this entry »
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Miami – Hundreds of feet of decking, swimming pools and helipads may hide it well, but even luxury yacht owners are struggling
The superyacht or megayacht segment of the industry — ships commonly defined as 80 feet or longer — has boomed worldwide despite a slump in purchasing price. According to the 2009 Luxury Yachting Index, compiled by yachting firm Camper & Nicholsons and the Luxury Institute, there were 3,800 such yachts in existence worldwide at the end of 2008, the last year for which statistics were available. Camper & Nicholsons estimates that number is now around 4,200.
In 2008, 330 superyachts were sold, 15 more than in 2007, but the total dollar value plummeted 20% from the year before Read the rest of this entry »
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