The project named "Marine Legends" is valued at Dhs6bn at Dubai Waterfront by ACI.
Robin Lohmann, Managing Director of ACI Real Estate said that, "Marine Legends reflect growing demand for high-end residences and concurrently aiming at providing an appropriate setting that unifies the requirement and aspirations of the emirate of Dubai to appreciate the waterline and improved water canal systems."
Speaking on the alliance with Ferretti Group Lohmann added: "We are very excited to work with the Ferretti Group and our association with them marks the start of global and Emirate wide trend. Ferretti Group has a long heritage of integrity, innovation and industry leadership principles. We share the spirit of endeavor and dedication to excellence, which fits perfectly with our mission to uphold the highest standards."
Vincenzo Cannatelli, CEO of the Ferretti Group added: "We have been thinking of UAE as our next destination for international expansion. The market offers a unique platform with a sound business environment that facilitates global business and investment. Dubai is well poised to become a leading global business capital and we are happy to join ACI to be part of this invigorative phase of growth."
The Ferretti Group, leader within the sphere of luxury motor yachts, has a unique portfolio of the most exclusive brands in the nautical world: Ferretti Yachts, Pershing, Itama, Bertram, Riva, Apreamare, Mochi Craft, Custom Line and CRN. It is currently present in 95 countries and has three representative branches situated in Europe, the United States and Asia. The Group also boasts an international dealer network, which counts over 85 carefully selected distributors, who guarantee its clientele the very best assistance in marinas all over the world.
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ACI Real Estate and Ferretti Group sign Dhs6bn deal
- United Arab Emirates: Saturday, March 15 - 2008 at 16:30
- PRESS RELEASE
ACI Real Estate, an affiliate of Alternative Capital Invest GMBH of Germany, has reached a strategic agreement with Ferretti Group to join hands in what is believed to set new trend in luxury waterfront residence.
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About ACIAlternative Capital Invest (ACI) Group is one of Germany's leading providers of investment solutions, mainly in the fields of Asset Management, Structured Finance, Risk Management and Real Estate. Given the economic boom and exponential growth in the Middle East markets, Alternative Capital Invest started operations in Dubai, in 2004. In the span of three years, ACI has established itself as a real estate investment firm with a strong portfolio of investors both locally and internationally.
ACI was founded as a family entity in Germany and the success of the group has evolved through generations. The father and son team of Uwe Lohmann and Robin Lohmann have already injected an impressive investment of more than one billion Dirhams into the property projects in Dubai, in areas such as Jumeirah Lakes Towers, Business Bay and City of Arabia.
About Ferretti Group
Founded by Norberto Ferretti in 1968, Ferretti Group is in the vanguard of the nautical sector, thanks to constant product and process innovation and continuous research in the field of technology. Luxury yachts are designed by a team of over 100 specialised engineers (Advanced Yacht Technology) and built in the Group's 22 production units. Over 3,000 employees share a continuous quest for quality, technological excellence, top performance, an exclusive, innovative design, maximising comfort and taking care of details which have raised the Group to the very heights of the nautical industry. Ferretti Group, managed by Chairman Norberto Ferretti and CEO Vincenzo Cannatelli, closed its financial statements on 31st August 2007 with a production value of 933 million euros (a gain of 21% compared to 770 million Euros reported in the previous year).
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Sana Lababidi
Media Relations Manager
Tel : 04 3415558
Fax : 04 3415559
Posted by Medilyn Manibo, Assistant News EditorSaturday, March 15 - 2008 at 16:30 UAE local time (GMT+4)
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