P&O Marinas agrees strategic partnership with Pindar Yacht Management
The strategic partnership is intended to turn Mina Rashid in a regional maritime hub…
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P&O Marinas has signed a strategic partnership agreement with Pindar Yacht Management (PYM), for the development of a water sports academy, a recreational club, an exhibition space and a range of associated marine leisure services and facilities. Under the agreement, PYM will bring its experience and an international sailing business and brand to support the transformation of the P&O Marinas facility into a recreational hub for yachting and the wider industry.
"The partnership between P&O Marinas and Pindar Yacht Management sets the stage for the next phase in the development of Mina Rashid Marina, and provides a boost to our on-going work of transforming it into the region's largest and best superyacht destination,” comments Mohammed Al Mannaei, CEO of P&O Marinas and executive director of Mina Raship. “We are confident that Mina Rashid Marina will continue to grow in a post-pandemic scenario, as Dubai, the region and the UAE begin gathering momentum for economic recovery. Our partnership with Pindar Yacht Management is designed to contribute to Dubai’s future plans to position itself as the leading marine leisure hub for the region.”
In addition to bringing its expertise, PYM will organise sailing and promotional activities using its two Volvo Ocean Race Yachts, customised and branded to P&O Marinas’ marketing purposes. The yachts, Mina and Marina, will be moored at Minda Rashid Marina.
“We are delighted to be part of this exciting new development in the region,” says Andrew Pindar, chairman of Pindar Yacht Management. “The facilities at Mina Rashid Marina are second to none, not only in terms of the infrastructure on shore, but also the superb sailing opportunities. P&O Marinas’ vision and mission are very much in line with those of Pindar Yacht Management and we are very much looking forward to being part of the process to develop Mina Rashid Marina as a true global yachting destination.”
Following Mina Rashid’s success in attracting some of the world’s largest yachts over the last few seasons, P&O Marinas has extended its management and operations to an addition four marinas in Dubai as a means of creating lifestyle developments for yachting enthusiasts. The team is currently revising the calendar of sailing events for 2020.
The development of Mina Rashid is one of many infrastructure projects currently underway in Dubai that have been designed to promote and grow Dubai as a superyacht destination. However, while Dubai and the wider UAE remain attractive for short visits, the region is yet to become a legitimate alternative for longer cruising or indeed as wintering destination, aside from for those vessels that are owned my Middle Eastern UHNWIs. That being said, central to Dubai’s issues has been its lack of a domestic market. Perhaps, P&O Marinas dedication to turning Mina Rashid into a maritime hub is an indication that the region is getting to grips with its need to develop a more diverse maritime leisure market, rather than focussing solely on superyachts.
To find out more about the need for Dubai to develop its domestic yachting market and dispel with its prohibitive boating policies, click here.
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