August 28, 2008

Luxury yacht maker Ferretti launches “Marine Legends” Development in Dubai

Pershing Dubai

Ferretti yachts today launched two luxury waterfront residences, “Ferretti Luxury Beach Residence” and “Pershing Luxury Beach Residence”. The freehold ownership project branded as “Marine Legends” is valued at $1.6 billion US. Unsurprisingly, the development is situated on the Waterfront and offers nearly two million square feet of saleable area.

A.C.I Real estate have been chosen as the selling agents and developer. “This deal has furthered the vision we have at ACI Real Estate, which is to bring world class luxury living to Dubai. The Ferretti Group has been a leading luxury brand for decades now. We at ACI Real Estate want to blend Ferretti’s expertise into our real estate projects and provide our customers with the best of both worlds”, said Robin Lohmann, Managing Director of ACI Real Estate.

Vincenzo Cannatelli, CEO of Ferretti S.p.A., added: “The whole world is coming to Dubai and at ACI Real Estate we have found our match. This strategic venture is a result of mutual professional admiration and recognition of our common values.”

The twin tower Ferretti Luxury Beach Residence and Pershing Luxury Beach Residence will offer landscaped gardens amidst canal and sea views, a pool, fitness center, sauna and Jacuzzi, and a little something else: eight luxury yachts will be permanently based at each property for residents to charter at preferential rates. These yachts will be purchased by ACI Group. The twin tower Ferretti Luxury Beach Residence will have over 44 floors each, while the Pershing Luxury Beach Residence will have over 41 floors, along with individual retail units at the ground floor of each tower. Ferretti Yachts and Pershing Yachts designers are planning to design common areas of the towers.

As far as I recall, this is the first time a yacht maker has ventured ashore in this fashion and I can only hope that their standard sales gimmick of three bikini-clad babes as standard equipment with each new yacht will be applied to the condominiums.