Following the announcement earlier this month about the strategic relationship between Island Global Yachting (IGY) and G-Marin, the existing IGY Dubai organization will henceforth be operating under the name Mourjan Marinas IGY maintaining the same scope of services and professional management team that has been the core of their success to date. Mourjan Marinas IGY will continue to service existing projects and clients as well as take on additional new projects established by the new ownership under G-Marin – a Malta based corporation.
The formation of Mourjan Marinas IGY as an IGY business alliance represents a major strategic move towards the entrenchment of the Dubai marina development and management services as a long term Middle East operation. Mourjan Marinas IGY will maintain operational and branding linkage with IGY in the United States and elsewhere. The aim of both entities is to cooperate and work jointly on expanding the global network of high quality and luxurious marina facilities that has always been the cornerstone of IGY’s business plan.
With Mourjan Marinas IGY, G-Marin introduces to their Middle East activities a portfolio of new marina lifestyle developments in addition to the already extensive number of projects underway and expands the current geographic coverage of Mourjan Marinas IGY to include Qatar, Bahrain, Morocco, Jordan, and Montenegro. The scope and range of the facilities covered by this new organization confirms the dynamic and exciting nature of the marine industry in this region and affirms the potential that exists for continued growth.
Michael Horrigan, CEO of Mourjan Marinas IGY operating out of Dubai said “Our industry in this region demonstrates robustness and stability where this confidence to establish strong Middle East operations will facilitate the continued growth in yachting and marinas in the Gulf. Our integration into the G-Marin group of companies is both strategic and visionary as a major step toward affirming our role as a leading marina industry developer and operator”.
Mohamed G. Zeineldin speaking on behalf of the other members of the Board for Mourjan Marinas IGY observed “we are excited at the introduction of the management and operational capabilities for marina lifestyle developments into our existing diverse corporate profile. It represents a diversification into a sector that we believe has enormous potential as well as a strong synergy with our existing hotel and residential commercial developments”.
IGY will maintain strong ties with Mourjan Marinas IGY in the ongoing business and equally regards this relationship as a significant milestone in the creation of a network of high quality facilities linking major global cruising patterns. Andrew Farkas, Chairman of IGY, confirmed “We are pleased to announce this next step in the evolution of the marina industry in the Middle East. This relationship further establishes the legacy that was set in place by IGY for the emerging marina market of the Arabian Gulf, and will continue to deliver the area’s finest nautical lifestyle destinations with signature service and style.”
All parties are confident and enthusiastic at the potential that has been generated by this change in ownership that will facilitate a continued realignment of the marina and boating industry in the Middle East to world class standards.
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