United Development Q P S C : UDC partners with world-renowned ‘Monaco Marina Management’ to enhance The Pearl Island’s position as an international maritime and yacht tourism destination

Al-Othman: "This strategic partnership is intended to turn Corinthia Yacht Club into a world-class maritime hub"

Doha, Qatar - 5 June 2022: United Development Company (UDC), a leading Qatari public shareholding company and the master developer of The Pearl and Gewan Islands, and Corinthia Group, a first-class hospitality management company which will be operating Corinthia Yacht Club at The Pearl Island and Corinthia Hotel at Gewan Island, signed a strategic collaboration agreement with Monaco Marina Management (M3) and the Yacht Club de Monaco to develop yachting at The Pearl Island and potentially Qatar.

The agreement was signed by Mr. Ibrahim Jassim Al-Othman, UDC President, CEO and Member of The Board, Mr. Simon Naudi, CEO of Corinthia Hotels, in addition to Mr. Bernard d'Alessandri, General Secretary of Yacht Club de Monaco, and Mr. José Marco Casellini, CEO of Monaco Marina Management.

Under the agreement, M3 will support UDC and Corinthia Group in promoting and developing sailing and yachting experiences and services at Corinthia Yacht Club and will also assist them in the process of obtaining the 'La Belle Classe Destinations', a prestigious label by Yacht Club de Monaco which sets a standard of excellence in terms of quality of facilities, services and safety in superyacht marinas.

Commenting on the agreement, Mr. Ibrahim Jassim Al-Othman stated: "This strategic partnership will contribute to strengthening The Pearl Island's global position as a premier maritime destination, as well as the leadership of Corinthia Yacht Club, located on the Island, in developing yachting and sailing to be an international sport."

Mr. Al-Othman further added: "The Pearl Island's beaches, and various marine facilities have been major attractions for visitors and tourists. We have consistently worked to enhance this, and now the groundbreaking collaboration with Monaco Marina Management will enable us to set the stage for the next phase in the development of Corinthia Yacht Club. We want this Club to set a new standard within the yachting industry as well as to become one of the region's leading marine leisure hubs. This will equally reinforce The Pearl Island's position as a remarkable world-class destination that provides exceptional experiences and innovative concepts that serve tourism and hospitality."

For his part, Mr. Simon Naudi said: "We are thrilled to collaborate with world leaders the Yacht Club de Monaco and M3. Our ambition is to transform Corinthia Yacht Club, on The Pearl, into a renowned yachting destination and to create a thriving hub for the local community. Together with our partners UDC, we are committed to ensuring that the Club becomes an internationally recognized centre of sporting and social excellence for members who enjoy a combination of competitive and informal sailing."

Mr. Bernard d'Alessandri also stated: "It is very good news to see that the yachting world is expanding to new destinations, which share our vision of developing sustainable yachting. This is the ambition of our 'La Belle Classe Destinations' certification, which is part of the Principality of Monaco's attractiveness policy."

Mr. José Marco Casellini further said: "We are very pleased to support Corinthia Hotels, in its desire to open up to yachting, by putting at their service the expertise and know-how of our experts in the establishment of new facilities in Doha."

Corinthia Yacht Club is currently under construction in the heart of Porto Arabia Marina and is expected to open ahead of the 2022 FIFA World Cup. This iconic project will span an area of 2,232 sqm and will feature a state-of-the-art design, stunning views, and many facilities including fine dining restaurants, climatized outdoor seating, as well as a cigar lounge, several meeting rooms, and many more services that help create a leisurely feel.