Al Seer Marine, MB92 Group and P&O Marinas have signed a Memorandum of Understanding to form a joint venture to create the UAE’s first dedicated superyacht refit and repair facility. The new mega-shipyard in Dubai will offer world-class bespoke refits to superyacht owners.

The yard is scheduled to be inaugurated in 2026, but the joint venture will begin offering superyacht repair and refit services from next year, in 2023, as part of its initial strategic plan.

Since 2019, Al Seer Marine has been looking to develop a world-class superyacht service center and refit shipyard in the UAE, and after discussions with Dubai-based P&O Marinas found the perfect strategic partner to achieve this goal. Now with MB92 Group as the third partner and shipyard operator in this project, this new joint venture will provide customers in the region with an unparalleled quality of service.

For these three partners, pioneering technology, shipyard efficiency and sustainability are key drivers, and they are uniquely able to incorporate these missions and goals when structuring the joint venture, and they even care about the environmental impact of the project itself. The end result will be a one-of-a-kind, enduring world-class superyacht shipyard, setting new standards in yacht refit and repair. The UAE is an ideal location to serve the growing number of superyacht owners in the Gulf. Over the years, Dubai has gradually become the world’s premier destination for luxury yachts with several high-end marinas. We already manage several state-of-the-art yachts at Mina Rashid Marina. With the completion of new service centers and refit yards, the UAE and Dubai will become more attractive to yacht owners as hubs.