Island Global Yachting (IGY), the premier worldwide developer of luxury marinas, celebrated another year of achievement by attending the inaugural Kuwait Boat Show International 2007. The organisation, which has been chosen to build landmark marinas on The Palm and The World developments in Dubai, felt that their presence was crucial at the high-profile yachting and marine industry exhibition.
“Kuwait is a country with a large economy and a substantial high net worth individual ratio. However, apart from the financial rationale, Kuwait is a very attractive market in the Gulf for us, as there is a huge amount of potential for marina development with a high number of yacht owners. We believe that IGY can help stimulate the Kuwaiti marina and yachting market by demonstrating the positive effect our complete waterfront developments can have on a country’s leisure and tourism industry,” explained Ralf Heron, CEO, IGY.
IGY’s success is based on its utilisation of design, engineering, management and marketing expertise to benefit waterfronts around the world. Based on the organisation’s ability to raise marina standards to five-star style levels of quality, with a management team that has participated in the operation and development of over 300 marinas in four different continents, IGY has been appointed as the exclusive designer, developer and manager for all of Nakheel’s marina properties.
Such success means that participation in exhibitions, like the Kuwait Boat Show International 2007, are crucial in order to expose the potential that the Middle East has in terms of a flourishing marina industry. Indeed, the aim is to make the region the third yachting destination in the world alongside the Caribbean and the Mediterranean, hence Kuwait becoming another ideal platform.
The Kuwait Boat Show International 2007, which runs from 21 to 25 April in Al-Koot Marina, is an opportunity to present the potential for the marina industry in the country. With 23,000 registered leisure boats and a highly reliable yacht financing structure, Kuwait’s waterfronts offer a tremendous opportunity to yacht owners across the GCC and further afield. With its safe waterways and border with Saudi Arabia, Kuwait also gives developers and yachting companies the chance to expand the industry in the region.
About IGY in the Middle East
Island Global Yachting (IGY) was founded in 2005 by Island Capital Group LLC, a New York real estate merchant banking firm specializing in real estate, real estate securities and securitization.
With offices worldwide and world class financial partners, IGY has emerged as a leader in the global marina industry, and an innovator in bringing new levels of professionalism, quality and service to luxury yachting destinations.
IGY and its staff has participated in the design, engineering and/or development of more than 300 marinas through the world including the US, Carribean, Europe and the Middle East and Asia. IGY marinas are widely recognized in the industry as the destinations of choice.
IGY has dedicated marina management operations headquartered in Dubai, United Arab Emirates. Projects currently focus on the UAE and Oman, with a number of other key regional developments soon to be unveiled.
In addition, the IGY team has managed the development of more than 10 million square feet of commercial and retail space, and overseen the construction of billions of dollars in residential, commercial and retail development.
IGY operates the only mega-yacht facilities in the Carribean, which are constantly fully booked every high season. IGY is currently developing additional mega-yacht marina properties in such places as Nassau, St Lucia, the British Virgin Islands, St Maarten, Anguilla and Dubai’s Palm Island.
