P&O Marinas partners with SMIP, for projects in Mediterranean and Worldwide

DP World Group subsidiary, P&O Marinas has announced an agreement with Monaco government owned Société Monegasque International Portuaire (SMIP) to work on selected marina projects in the Mediterranean and other locations around the world.

A Memorandum of Understanding (MoU) has been signed in Monaco to invest, develop and manage yachting destinations dedicated to superyachts.

The agreement was signed by Mohammed Al Mannaei, CEO of P&O Marinas and Mr Aleco Keusseoglou, Chairman of SMIP in the presence of Mr Rado Antolovic, CEO & MD of P&O Maritime, Mr Gian Battista Borea d’Olmo, Executive Director of SMIP, Ms Fabiana Maccarini, Research and Development manager of P&O Marinas and Mr Daniel Realini, Technical Director of SMIP.

Al Mannaei pointed out the close cooperation with other authorities in the luxury yachts segment helps boost tourism and foreign investment in the emirate. SMIP believes that the collaboration and synergy with P&O Marinas will bring to become together main actors in the field of the Superyacht Marinas with a very important impact in their economy and the one of the areas where they will invest.

The marinas and superyachts market is a growing part of our business and we are building on Dubai’s heritage and expertise in this sector having already established it as a centre for cruise and marina development following the wise vision and directives of our leadership. By partnering with SMIP, we will complement each other’s experience to ensure the very best facilities feature high standards and innovative services that create long term sustainable value to clients, local communities and shareholders.

Mohammed Al Mannaei, CEO of P&O Marinas

We are delighted to collaborate with P&O Marinas on the development of joint projects in the superyacht sector. Monaco is world famous superyacht destination and Dubai has established a global reputation for its own marina developments. We believe that by combining our forces with a global market provider we can expand our operations across the Mediterranean and further afield. Clients will benefit from the experience and combined resources that each company bestows.

Aleco Keusseoglou, Chairman of SMIP