Qataris ready to buy Sardinia superyacht marina (10 April 2012)

Smeralda Holding deal worth at least €290m.
The 700-berth Porto Cervo Marina on Sardinia’s Costa Smeralda looks set to change owners as part of Qatar Holding’s takeover of Smeralda Holding.
Porto Cervo Marina can accommodate around 100 superyachts over 25m (80ft).
Qatar Holding is the investment arm of the Qatari Royal family and Smeralda Holding is currently owned by US property magnate Tom Barrack — who purchased its assets through his Colony Capital fund in 2003 for €290m.
Apart from the marina, Smeralda Holding’s assets also include four five-star hotels and a world-class golf course.
It is expected that the deal will pay off Smeralda Holding’s current €200m debt and provide funds for new infrastructure investment.
Porto Cervo also has berthing capable of accommodating the Qatar royal family superyacht Katara — a 124m (408ft) craft completed by Lurssen in 2010.
Costa Smeralda’s 55km (35-mile) coast was first developed 50 years ago by the Aga Khan who turned it from an undeveloped stretch of land into a run of luxury properties for wealthy visitors. (, 10 April 2012)


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