Yachting in Croatia is set for full speed ahead in 2008, as two of the region’s leading marine industry companies join forces

Island Global Yachting and Nautical Centre Prgin have announced a joint venture to develop Croatia’s first dedicated megayacht marina. The project will be located in the coastal town of Sibenik, adjacent to the existing Mandalina Marina.

The site is conveniently located near the Kornati Islands National Park, Krka National Park, two UNESCO World Heritage Sites and Split International Airport.
Under the agreement, IGY will manage both the new megayacht facility and Mandalina Marina, through a newly established company created via the partnership. They will also acquire an equity interest in the existing Mandalina Marina.

Additionally, the company is negotiating the option to purchase an equity stake in the upland area adjacent to the new marina to comprise world-class shopping, food and beverage outlets and a hotel. Upon approval, this equity stake will be granted to IGY under a development agreement.

Important step
“This is clearly an important step for us and we are delighted to be working with NCP as we enter the flourishing Eastern Mediterranean market,” said Andrew Farkas, founder and chairman of Island Global Yachting. Frank Garrison, CEO of IGY added, “As we join forces with NCP, we look forward to joining the entire Croatian community, and working together with the people and the businesses of this great country to deliver one of the premier marinas in the Mediterranean, if not the world.”

“We are equally excited about this partnership and the economic benefits that it will bring to our community,” said Ivana Prgin, president of marketing for NCP. “The waters around Sibenik are acclaimed as one of the world’s greatest cruising areas and this new marina will enhance the experience even further.

The megayacht market represents the world’s top demographic and IGY is at the forefront in serving these consumers.”

These developments will add to an unprecedented Pan-Caribbean collection of marinas including locations such as: St. Maarten, St. Lucia, the British Virgin Islands, and St. Thomas, as well as properties in the Americas. There is also a potentially huge emerging marina market in the Middle East. The company is currently contracted to design, develop and manage up to 40,000 berths for Nakheel & Istithmar Leisure in Dubai, UAE. The first project, Anchor Marina will be completed in early 2008 on the much-publicised Palm Jumeirah.

The Mediterranean network is being founded with this Sibenik facility and will quickly grow with projects under negotiations in other countries in the region.

Beautiful environment
Croatia has established itself as a beacon for luxury yachting in Middle Europe.

The scenic coastal town of Sibenik on the Adriatic Coast, for example, was chosen as the “world’s number one sailing destination” by National Geographic magazine, and the Sibenik area is famous for its UNESCO protected cathedral, beautiful medieval fortresses and especially for its two national parks, Krka waterfalls and Kornati archipelago. With such a beautiful environment to sail in, it is little wonder why Croatia has been turning heads.