Abu Dhabi, Oct 7: Leading United Arab Emirates (UAE)-based real estate developer Aldar Properties Tuesday announced the launch of a new subsidiary to develop Abu Dhabi into a new global hub for luxury boating.
The new entity, Aldar Marinas, will provide a broad range of leisure marine facilities and services that will constitute an integral part of Aldar's waterfront developments, the state-run Emirates News Agency (WAM) reported.
The first marina will become operational at Aldar's premier Yas Island, where the new Abu Dhabi Formula One racetrack is coming up, and Al Raha beach projects.
Each marina will have its own identity and will provide state-of-the-art facilities for the yachting community from entry level boating to destination yachting, the company said.
"The vision of Aldar Marinas is to create a safe, sustainable and enjoyable recreational boating culture in Abu Dhabi and lead Abu Dhabi into becoming a premier boating destination," Ronald Stephen Barrott, chief executive of Aldar Properties, said at the launch of the new subsidiary here.
The Yas Marina, surrounded by the Formula One racetrack, will provide berthing for luxury yachts of up to 100 metres length as well as guest berthing.
The exclusive Yas Yacht Club that will be located at the marina will feature fine dining facilities and provide ringside views of the Formula one Grand Prix racetrack.
Guests at Yas Island Marina can also access the Yas Island theme parks, golf course and five star hotels.
According to the company, the new Aldar Marinas development will be a year-round boating destination on the azure waters of the Arabian Gulf and the islands surrounding Abu Dhabi.
"We also aim to add value to the joys of boat ownership by taking complete responsibility of an owner's asset and developing a lifestyle for all socio-economic groups within the leisure boat category," Barrott said.
Primarily established to create real estate developments in the emirate of Abu Dhabi, Aldar Properties' main corporate shareholders are Abu Dhabi government entities.
These include Mubadala Development Co, Abu Dhabi Investment Co, Abu Dhabi National Hotels Co, National Corp for Tourism and Hotels and National Investor.
--- IANS
