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Sat 11 Oct 2008 04:00 AM

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Aldar to build 14 marinas

Abu Dhabi-based real estate developer Aldar Properties has set up a new subsidiary that will build 3500 berths in 14 marinas across the UAE capital.

Abu Dhabi-based real estate developer Aldar Properties has set up a new subsidiary that will build 3500 berths in 14 marinas across the UAE capital.

The new company, Aldar Marinas, will offer facilities for buying, selling and the maintenance of sailing yachts, motor and day boats as well as other types of craft, CEO Ronald Barrott told a press conference at the Cityscape exhibition in Dubai.

"There's a big opportunity for the sailing industry here, but good facilities do not exist," said Barrott. "The industry needs to grow and we want to turn Abu Dhabi into an international luxury boating destination."

Barrott said that the first marina was scheduled for completion by the end of next year. Last week, Prince Albert II of Monaco said that Abu Dhabi could become one of the world's premier hubs for superyachts.

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