Ferretti Group signs an agreement with AAA Marine for the Emirates and Oman, strengthening its presence in the Middle East.
The new entity born from the merger between Al Otaiba Investment and Ric Holding will be the exclusive dealer for the Ferretti Yachts, Riva, Pershing and Itama brands.
Ferretti Group is making a new move in its commercial expansion in the Gulf region. The Group has officially appointed Aaa Marine as its exclusive dealer for the United Arab Emirates and Oman markets; the agreement includes the marketing of four key brands in the portfolio: Ferretti Yachts, Riva, Pershing, and Itama.
The partnership is part of a plan to consolidate Ferretti Group's presence in one of the fastest-growing regions in the luxury segment. AAA Marine is a company formed from the merger of two regional financial and industrial players: Al Otaiba Investment and Ric Holding. The goal of the transaction, a press release explains, is to combine the industrial and design capabilities of the Italian manufacturer with the local roots and network of the new dealer.
The operation aims to tap into the growing demand for high-end vessels, driven not only by private owners but also by the major real estate and tourism development projects that are reshaping the coasts of the Arabian Peninsula.
"This agreement has primary strategic value," commented Ferretti Group CEO Alberto Galassi. "It's not simply a dealership, but a development phase that integrates product excellence with a high-level local organization. The United Arab Emirates is an ideal place to invest, thanks to its cutting-edge infrastructure and an environment conducive to quality tourism."
The collaboration also encompasses infrastructure opportunities: as underlined by Alaa Al Ali, Group CEO of Ric Holding & Ng9 Holding, AAA Marine intends to position itself as a key player in coastal redevelopment projects as well: “Thanks to this collaboration, we will present high-end offerings to clients and investors, also looking at waterfront development projects in the Emirates and Oman.”
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