Qatari Diar has purchased the Mediterranean superyacht marina Port Tarraco Marina located in Tarragona, Spain.
The purchase has been through its subsidiary company, Qatari Diar Marina Tarragona (QDMT) working in conjunction with MB92 who will hold a 5% stake in the venture.
The vendors were International Marina Tarragona S L, a Spanish marina operator.
The value of the deal is not known.
Port Tarraco Marina has some 64 berths for boats between 30m and 160m LOA, 9m draught and 140m length waiting dock.
Qatari Diar Group CEO Mohammed bin Ali al-Hedfa said: “We are thrilled to be investing in the western Mediterranean’s marina industry, one of the most mature in the world. With our international experience and the expertise of our world-class partners, MB92, we expect the Port Tarraco Marina to become one of the top year-round marina destinations for yachts in Europe and the Mediterranean.”
Qatari Diar Real Estate Investment Company is wholly owned by the Qatar Investment Authority.
It was established in December 2005 to support Qatar’s growing economy and to co-ordinate the country’s real estate development priorities.
Qatari Diar is currently involved in more than 35 projects in more than 20 countries around the world.
Marina Barcelona 92 is a company fully dedicated to the yacht industry and provides service-refit, repair and maintenance works to more than 70 super yachts per year with overall lengths from 35m up to 180m.
Source: Gulf Times