Island Global Yachting (IGY) has solidified its presence in the Mediterranean by winning the concession for the Marina du Vieux Port de Cannes, in the heart of the French Riviera. The marinas features 727 berths and will the 23rd marina in the IGY worldwide network.
Planned development will include the creation of a fishermen's village, the construction of a parking lot, extension of the pier, construction of a new office and service centre and relocation of the careering area – all due to be delivered by January 2024. In addition, the waterside of the marina will enhance the historic legacy of the location, and will be home to classic sailing yachts, traditional vessels and old rigging.
"We are honoured that the City of Cannes has entrusted IGY and Fayat with the management and development of this world-renowned site. Our team looks forward to providing our clients with hospitality solutions for all types of vessels by bringing IGY's expertise and professional standards to the French Riviera," said Tom Mukamal, CEO of IGY. "We look forward to transforming the Vieux Port de Cannes into a best-in-class maritime destination that also includes top-tier events."
This latest news comes only a week after IGY announced its successful concession for the San Andres Marina in Málaga, Spain.
Fayat, the investment company that is backing the development, is a family-owned French investment firm that operates in 170 countries with more that 21,000 employees. The main focus of the company is the construction market, and annual sales for the seven major businesses it operates in 2021 reached €4.6 billion.