Mourjan Marinas Enters Black Sea Market to Prepare for 2014 Winter Olympics

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(DUBAI, UAE) -- Mourjan Marinas IGY, the Dubai-based luxury developer and manager of marinas and yachting destinations, has signed an agreement with a Russian company to transform the port of Sochi on the Black Sea. The Russian resort is host city for the 2014 Winter Olympics.

The agreement with Russian company Sochi Grand Marina involves the creation of a mixed use development with a marina for 300 yachts, a passenger cruise terminal, as well as high quality shops, residences, and hotels to accommodate the tourists that the Olympics are expected to attract. Later, Sochi Grand Marina will be a year round destination for local residents.

Michael Horrigan, CEO of Mourjan Marinas IGY, said, "The Russian market has great potential for marine development, and we are pleased to be working with Sochi Grand Marina on what will be a dramatic transformation of the port of Sochi as it prepares for the 2014 Winter Olympics and its long-term future. This development will set benchmarks in the region and we proud to be part of it."

Konstantin Sakharov, CEO of Sochi Grand Marina, said, "We are providing the Sochi port with a beautiful first-class yacht marina which will be the first professional yacht marina unique for the Black Sea coast. Mourjan Marinas IGY is our chosen partner for this project as their extensive experience in marina development in the Middle East and Europe serves us well for this complex project.''

Sochi Seaport is a major strategic milestone in Mourjan Marinas IGY commitment to the Russian marina market and specifically the Black Sea coast line around Sochi. The partnership with Sochi Grand Marina aligns Mourjan Marinas IGY with a Russian company that is equally focused on facilities that represent the best in international standards for design, safety and service.
 

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