Al Seer Marine, MB92 and P&O Marinas, to Create World Leading Superyacht Service Centre and Refit Shipyard for the Gulf Region

27th Sep 2022

Al Seer Marine, MB92 Group and P&O Marinas announce today that they have signed a memorandum of understanding in view of setting up a joint venture to develop the first dedicated superyacht refit and repair facility in the UAE (Dubai). This new high-capacity shipyard will provide superyacht owners with a customized world class refit service in the Gulf, the first of its kind in the region.

The shipyard construction is scheduled for completion in 2026, with the joint venture offering its superyacht repair and refit services from next year in 2023, as the start of this strategic plan.

Al Seer Marine has been looking to develop a world class Superyacht Service Centre and Refit Shipyard in the UAE since 2019 and after discussions with P&O Marinas in Dubai, found the perfect strategic partner to realize the project. Now with MB92 Group as the third partner and the chosen operator of the shipyard, this new facility will deliver the unrivalled quality of service the customers in the region need.

Pioneering technology, shipyard efficiency and sustainability are key drivers for the three partners, with the unique ability to apply this mission and objectives at the very conception of the facilities, all the way through to the environmental impact of the

projects themselves. The final result will be a unique, future proofed, world-class superyacht shipyard, setting new benchmarks and standards in the refit and repair sector. Page 2 / 3

Gunther Alvarado, Chief Operating Officer of Al Seer Marine said, “Leading this powerful partnership is part of Al Seer Marine’s overall investment strategy and vision for the Gulf Region, with some of the most complex superyachts owned and operated in the region, we will have a world class facility with leading suppliers and subcontractors, that will serve their requirements.”

Hamza Mustafa, Chief Operating Officer of P&O Marinas, a DP World company said: “The UAE is the ideal location to service the Gulf region’s growing number of superyacht owners. Dubai has developed its reputation over the years as a top destination for luxury yachting with the creation of several high-end marinas. We already look after some of the most exclusive and advanced yachts at Mina Rashid Marina. With the development of a new service centre and refit shipyard, the UAE and Dubai’s offering as a hub for yacht owners will be even more attractive.”

Jean-Marc Bolinger, CEO of MB92 Group, added, “Creating a world-class refit shipyard from scratch, in the dynamic hub of Dubai and the Gulf, represents a very exciting and unique opportunity for our Group, which has been on our strategic agenda for several years. It will enable us to expand the foot print of our first-class facilities and provide our clients in the region with the same level of service and support the receive and expect in Barcelona and La Ciotat. We look forward to presenting the details of this exciting joint venture to our key stakeholders in the coming months.”

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