Croatian deal a result of GCC success say IGY

The organisation's Marketing Director, Wayne Lowery explains that the GCC is fast becoming one of the most important business centres in the world, and increased focus on the region is helping support IGY's global growth.

"The unprecedented level of international investment from GCC-based players into regional and global markets has become a major factor in the international economic situation. So, IGY's success in the Middle East has been crucial in building up our organization's worldwide profile and we have used our strengths here to look into other markets, such as the Eastern Mediterranean."

As a result, IGY's recent announcement to develop Croatia's first dedicated IGY branded megayacht marina in the coastal town of Sibenik is being heralded as a major step in the organisation's quest for global growth. It is all the more impressive considering the agreement stemmed from the organisation's Dubai-based Middle East & Asia headquarters.

The agreement with one of Croatia's leading marine industry companies, NCP (Nautical Center Prgin), came as a direct result of the success achieved in the GCC. IGY's Middle East & Asia operation took the responsibility for nurturing new business in the booming Eastern Mediterranean marine market.

"It was a real honour to be a major part of the agreement with NCP in Croatia and all of our team is very happy with the future of the partnership. Not only will there be an IGY branded megayacht facility near to two UNESCO World Heritage Sites, two water-oriented national parks, and an international airport, but we will also manage the existent Mandalina Marina in Sibenek. This is a major step into the Eastern Mediterranean and this was born out of IGY Middle East & Asia's experience, expertise and proximity to the region," explains Wayne Lowery.

The upland area adjacent to the new marina will, when completed by the IGY/NCP team, comprise world-class shopping, food and beverage outlets and a hotel. These facilities and the new megayacht marina will represent a major new destination for the many GCC-based residents who maintain leisure yachts, or charter yachts, in the Mediterranean, as well as a focal point for the global transient yachting market.

The warm waters of Dubai have proved fruitful for the organization with master developers, such as Nakheel signing exclusive agreement contracts with IGY for all of its coastline developments.

In the space of two years IGY has quickly established itself as an international player in the marine industry. Headquartered in Fort Lauderdale and New York, IGY's Chairman, Andrew Farkas envisaged the ultimate quality and luxury for all of his marinas and it is this ethos that has led to the development of pioneering projects in the Middle East, Caribbean and Europe such as Anchor Marina on The Palm Jumeirah and Yacht Haven Grande in the US Virgin Islands.

Meanwhile, IGY is measuring its strategic steps carefully and has highlighted genuine worldwide expansion as a priority explains Lowery.

"Our priority is to expand our network of operations to encompass every corner of the world. Obviously, we are well on the way to ensuring that through our organization-wide vision and effort, but our operations in the GCC have helped open up a new market key to these efforts."