ART Marine, Mideast's No.1 Yacht Dealer, Appoints New CEO

Published October 15th, 2009 - 03:22 GMT

 ART Marine, an Abraaj Capital portfolio company and the Middle East's largest importer and distributor of luxury motor-yachts, announces the appointment of a highly experienced CEO from the United States to drive its expansion in the region as demand for pleasure craft begins to recover.

 Demonstrating the Gulf's continued ability to attract some of
the world's most talented professionals, Constantinos Constantinou joins
Dubai-based ART Marine from Cobalt Yachts in Tennessee, where he served as


    Mr. Constantinou began his career in Cyprus with Cobra Marine
Services. In 1995, he joined the Sea Ray division of Brunswick Corp., the
U.S.'s biggest marine manufacturer. There, he served as Senior Vice President
for Strategic Alliances & International Operations. He joined Cobalt Yachts
in 2005.


    "Constantinos' broad marine operations expertise, combined
with his 20 years experience in various high-level positions in the marine
industry, will make a significant contribution to ART Marine and its
customers," said Alessio Tumbiolo, Chairman and co-founder of ART Marine.


    ART Marine, the region's exclusive dealer for Benetti, Azimut,
Atlantis and Riviera yachts, has been expanding across the Middle East with
operations in five countries, including the UAE, Bahrain, Kuwait, Qatar and
Egypt. The firm is the only yacht dealer in the region offering extensive
after-sales services. Demand for luxury yachts in the Middle East has
exploded over the last 10 years, driven by increased wealth generation and
the development of marinas in the Gulf and Red Sea.


    "I'm excited to join ART Marine and to be leading such a
high-caliber team. The Gulf region is one of the most promising markets
globally, and the affinity for pleasure boating and yachting is increasing
steadily," Mr. Constantinou said. "We are introducing new standards by
implementing a 360-degree marine hospitality strategy that encompasses a wide
array of services such as sales, maintenance, after-sales support,
chartering, brokerage, yacht management, and marina management and
operations. I look forward to contributing towards the remarkable growth of
ART Marine as we expand our range of products and services to all regional

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