IGY wins Málaga concession
IGY and its partners, Marina Málaga SAN and Ocean Capital Partners, have secured a 50-year concession…
Following a competitive tendering process, Marina Málaga SAN (MMS), Ocean Capital Partners and Island Global Yachting (IGY) have been awarded a 50-year concession to develop and operate Málaga San Andres Marina. The project is scheduled for completion in 2024 and will consist of approximately 600 berths for vessels ranging from small leisure craft to superyachts around 60m in length.
“This investment elevates Málaga’s status as a nautical destination while providing much-needed vessel berthing and leisure facilities to this vibrant region,” explains Ramón Calderón, director of MMS. ‘We look forward to working with the city, port authority, and our partners at IGY and OCP on this exciting project.”
MMS, which is an entity of the Qatari investment group Al Alfia, is the main investor in the approximately €60million marina project, with Ocean Capital Partners as the project engineer and asset manager. IGY will be the exclusive marketer and manager of the marina.
“We are excited to be a part of the Málaga San Andres Marina project. The opportunity to bring IGY’s expertise and personnel to operate and market this significant project represents a further opportunity for IGY to continue its investments in the overall development of the nautical sector of the City of Malaga,” says Tom Mukamal, CEO, IGY Marinas.
The development plan includes a to-be-built commercial real estate area, which will be designed by Spanish architect José Seguí. The 8,000sqm landside development will consist of entertainment, restaurants, luxury retail, events spaces, classrooms and a sailing school. In line with the standards expected of superyacht facilities today, there will also be dedicated crew facilities, fuelling, concierge services, waste recycling and security. The marina is centrally located in Málaga and 20 minutes from Málaga Costa del Sol Airport.
“This is an opportunity to continue expanding the projects of Ocean Capital Partners as a reference company in the management of megayacht marinas and sports marinas in Spain, increasing the company’s portfolio of assets under management and which we trust, will continue to increase during the remainder of the year, forming the most extensive portfolio of marinas at a national level,” explains Jose Luis Almazán, CEO of Ocean Capital Partners.
In recent years much has been made about the impending marina capacity issue in the marina. As the superyacht fleet has continued to grow rapidly, marina capacity, especially within the market’s most frequented hubs, has failed to keep pace. Málaga San Andres Marina, according to IGY, represents an excellent opportunity to add much-needed berthing capacity to the Mediterranean in the form of both long-term and short-term berthing options.
With 22 marinas in 13 countries, IGY can claim to be the superyacht industry's first global marina network. For a more detailed understanding of IGY's business plan, click here to download The Americas Superyacht Report. Alternatively, to gain access to The Superyacht Group's full suite of products, events and services, and to join The Superyacht Group Community, click here.
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