Thursday, February 17, 2011

Luxury Yacht manufacturer moves ashore in Dubai

One of the world’s leading luxury yacht manufacturers, Ferretti Group, has just announced a partnership with ACI Real Estate to build a shoreline property in Dubai. The $1.6 billion project, named “Marine Legend” at Nakheel’s Dubai Waterfront will be the first real estate venture for Ferretti. Chief Executive Officer of the Ferretti Group, Mr. Vincenzo Cannatelli, said he believes there is great potential in the real estate sector, especially in the East, and the company is eager to become involved in the shore based side of things.

"We are not getting directly involved in the real-estate business, but participating with right partners to improve our presence," Cannatelli said when asked what part his group would play in the deal. The real estate sector, he said, directly complements the yacht industry by way of accelerating business.
"The growth of waterfront properties in Dubai will definitely accelerate our business in the region. In fact, many customers of ACI Real Estate are our potential customers too and would be interested in owning one of our yachts."

Currently, Ferretti sells approximately thirty luxury yachts yearly in the United Arab Emirates, and is hoping to improve that to between fifty and a hundred units within the next five years.
"We have been thinking of the UAE as our next destination for international expansion. The market offers a special platform with a sound business environment that facilitates global business and investment. Dubai is well poised to become a leading global business capital and we are happy to join ACI to be part of this invigorating phase of growth," he declared.
Managing Director of ACI Real Estate, Mr. Robin Lohmann said the property will create new trends in luxury waterfront residence in the emirate.
"Marine Legends reflects growing demand for high-end residences and concurrently aims at providing an appropriate setting that unifies the requirements and aspirations of Dubai to appreciate the waterline and improved water canal systems," said Lohmann. "There has been a lot of infrastructure development at the Dubai Waterfront, and I think it is a realistic scenario to complete the project within the scheduled time as we have already started working on the design."
The plans are to complete the project within the next thirty–six months. Marine Legends will comprise three twin towers and will be designed with yachting elements blended in into it. Architects from both partners will co-ordinate on the design and some of the towers will be named after the Ferretti brands.
Lohmann said the company would be securing more properties in the Dubai Waterfront in the future. "We have already crossed $2.7 billion in turnover in this year. We will be diversifying our portfolio by securing our market share in emirates such as Abu Dhabi, Ajman, Ras Al Khaimah as well as Dubai, where new developments are happening."
Ferretti Group
As far as I can tell from the advertising, Ferretti yachts seem to come fully equipped with a bevy of bikini-clad babes  (three seems to be the optimum number) – just one more reason to buy one Although, as they are fully customisable, I imagine there is an option for speedo-clad hunks, if that is your preference.
The Ferretti Group, based in Forli, is one of the world’s leaders in the design and construction of luxury motoryachts and sporting boats that measure between 7 and 80 meters long. The Group consists of: Ferretti Yachts division (flybridge motoryachts, 14 to 27 meters), Pershing S.p.A. (high performance open cruisers, 11 to 35 meters), Itama Cantieri Navali S.p.A (open motoryacht, 13 to 25 meters), the American Bertram Yacht, Inc. (sport fisherman motoryachts, 12 to 22 meters), Riva S.p.A. (open and flybridge motoryachts, 10 to 35 meters), Apreamare S.p.A. in Sorrento (“gozzo sorrentino” and ‘Maestro’ line, 7 to 25 meters), Mochi Craft division (lobster boats, 13 to 23 meters), Custom Line division (maxiyachts in composite materials from 26 to 34 meters with two decks) and CRN S.p.A. , (megayachts in composite materials – 40 meter planig model and 43 meter displacement model – and steel megayachts from 46 to 80 meters)
The Group also includes: Ferretti Group USA, Inc. , the company responsible for importing Ferretti Yachts, Pershing, Riva, Apreamare, Mochi Craft, Custom Line and CRN motoryachts to the United States and Canada, Resin Sistem S.r.l., a company specialized in the production of fiberglass products for Ferretti boats, Diesse Arredamenti, a company specialized in the production of boat interiors for all the companies in the Group, Diesel Center, a distributor of diesel marine engines, propulsion and control systems, reversers, reducers and generators, as well as Pinmar S.L. , European leader specialized in yacht painting and refitting, Zago S.p.A. , a company specialized in the production of wooden fixtures and furnishing for megayachts over 100 feet. It is currently present in 95 countries and has three representative branches in Europe, the United States and Asia.

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