Whom You Know: #PeachyAhoy CORINTHIA HOTELS PARTNERS WITH WORLD-RENOWNED 'MONACO MARINA MANAGEMENT' TO SET NEW STANDARDS FOR YACHTING IN DOHA

Tuesday, July 5, 2022

#PeachyAhoy CORINTHIA HOTELS PARTNERS WITH WORLD-RENOWNED 'MONACO MARINA MANAGEMENT' TO SET NEW STANDARDS FOR YACHTING IN DOHA

Corinthia Hotels and United Development Company (UDC), a leading Qatari public shareholding company and the master developer of The Pearl and Gewan Islands, signed a strategic collaboration agreement with Monaco Marina Management (M3) and the Yacht Club de Monaco to develop yachting at their Yacht Club located on The Pearl. The new Club will further enhance The Pearl Island's position as an international maritime and yachting destination.

Official Signing Ceremony

Corinthia Yacht Club, Doha, Qatar

The agreement was signed by Simon Naudi, CEO of Corinthia Hotels and Ibrahim Jassim Al-Othman, UDC President, CEO and Member of The Board, 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 Corinthia Group and UDC in promoting and developing sailing and yachting experiences and services at Corinthia Yacht Club. The collaboration 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 of quality of facilities, services and safety across superyacht marinas.

Simon Naudi commented: "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."

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."

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."

Ibrahim Al-Othman continued: "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."

Bernard d'Alessandri 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."

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.

ABOUT CORINTHIA HOTELS

Corinthia is a growing family of luxury hotels, founded in Malta in 1962 by the Pisani family. The company has grown over the years into a multinational investor, developer and operator of hotels and real estate. Its portfolio includes award-winning hotels in cities such as London, Budapest, Lisbon, St. Petersburg, and the Island of Malta. Current developments underway in various stages of design and construction include landmark, trophy hotels in Rome, New York, Brussels, Bucharest, Doha, and a new resort in Malta. For more information visit corinthia.com

ABOUT UNITED DEVELOPMENT COMPANY (UDC)

United Development Company (UDC) is a leading Qatari public shareholding company with a mission to identify and invest in long-term projects contributing to the growth of the State of Qatar and providing good shareholder value. Established in 1999, the Company was listed on the Qatar Exchange in June 2003. It has an authorized share capital of QR 3.5 billion and total assets of QR 20 billion as of 31 March 2022. From day one, the Company actively contributed to the development of the State of Qatar, rapidly evolving into a leading Qatari Public Shareholding Company and successfully establishing a group of various good performing investments. Through a combination of project activities and commercial enterprise, UDC and its subsidiaries have accumulated a large amount of specific experience including detailed knowledge of real estate development, property management, hospitality and maritime, infrastructure and utilities. As part of its five-year business plan, UDC is leveraging its leading market position to achieve sustainable financial performance and maintain profitability targets by focusing on the core business activities and investing in new and viable real estate developments.

UDC's flagship project is The Pearl Island, an urban mixed-use, man-made island and one of the largest real estate developments in the Gulf.

UDC is also in the process of developing Gewan Island located adjacent to The Pearl Island, into the Company's latest world class residential, commercial and entertainment project. This development has the potential of becoming a magnificent destination that will maintain UDC's future growth.

ABOUT YACHT CLUB DE MONCACO

Founded in 1953 by Prince Rainier and chaired by HSH Prince Albert II since 1984, the Yacht Club de Monaco is a private and exclusive club which brings together more than 2500 members from 80 nationalities, sharing the common values around its motto: ' One Spirit, One Team, One Club '. In accordance with its statutes, this private club has the particularity of being in charge of a public service delegation mission, as evidenced by its role as facilitator of the port and catalyst for all activities related to Yachting in the Principality under the collective umbrella brand "Monaco, Capital of Advanced Yachting".Preserving a certain 'Art of Living by the Sea', safeguarding the environment, honoring nautical heritage and promoting the most innovative technologies..., is through the values of its «La Belle Classe» label and this even outside its circle of members, that the Y.C.M. brings together owners and all yachting players, by offering them a platform for communication and exchange but also of training within La Belle Classe Academy. The ambition is to contribute to the promotion and international influence of the Principality.

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