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Island Global Yachting to run Olympic Village Marina in Sochi
14.09.2009 23:26
Island Global Yachting to run Olympic Village Marina in Sochi

Island Global Yachting (IGY), one of the worlds premier owners, developers and managers of luxury marinas and yachting lifestyle destinations, agreed to run Olympic Village Marina, which will be built by Oleg Deripaska's Basic Element.
      The agreement implies that IGY shall perform as an operator of the marina after completion of the construction works. Currently the company runs yacht clubs in the USA, Mexico, Persian Gulf, Mediterranean and the Caribbean Islands.
      Olympic Village Marina is the first object of this kind in Russia, so, no wonder, the Russian developers preferred to attract a world-known operator to run the project instead of hiring a company not experienced enough in this field, the spokesman for Basic Element said.
      Olympic Village Marina will encompass 600-700 permanent berths for average-sized and over 100 meter mega yachts. The construction works are due to start in the first quarter of 2014 and scheduled to be completed by the end of the same year. The infrastructure for the yacht club will be created on the base of Sochi's cargo port.
      The project may trigger an undeveloped yet prospective industry of building marinas in Russia, say experts.
      It is reported that Island Global Yachting lays high hope on the Russian project, which seems especially promising in the light of the upcoming Olympics 2014 and a great potential of Sochi as the key resort of Russia.


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