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AAA Marine, formed through a strategic merger between Al Otaiba Investment and RIC Holding, has been announced as the authorised dealer of Ferretti Group (Ferretti Yachts, Riva, Pershing, and Itama) in the UAE and Oman.
This partnership aligns with Abu Dhabi’s Maritime Tourism Strategy, which seeks to position the UAE’s capital as a leading global maritime destination through the development of world-class maritime infrastructure, advanced digital maritime solutions, and a safe and sustainable marine environment.
Indeed, on a macro-level, this partnership is can also be said to align with the emirate’s wider Abu Dhabi 2030 Tourism Vision. In particular, it aligns with the stated aim of the Department of Culture and Tourism – Abu Dhabi (DCT) to enable the emirate to become a leading global cultural and leisure destination by offering unique, authentic experiences through enhanced infrastructure and new business opportunities, across these industry sectors.
Held at Emirates Palace in Abu Dhabi and attended by high-profile dignitaries from different industries, the agreement signing marks a defining milestone for the regional maritime sector – solidifying the UAE as a growing hub for luxury yachting, marine leisure, and international investment.
By combining AAA Marine’s regional insight with Ferretti Group’s portfolio of Ultra Luxury yachts, this new partnership will forge a powerful alignment between regional know-how and world-leading Italian craftsmanship. It will also represent a major step forward in transforming the region’s marine lifestyle landscape by significantly increasing the number of luxury branded yachts available to sailing or boating enthusiasts – in the UAE and Oman.
In recent years, global demand for luxury yachts has continued to climb, with the industry sector’s worldwide market valued at over USD 8.5 billion, in 2025. This has been driven by a rising influx of high-net-worth individuals (HNWIs) and a growing preference for experiential luxury travel. This trend is particularly evident across the GCC region, where the luxury yacht market is expanding steadily and expected to almost double in value, by 2032.
The growing appetite for luxury yachting across the region is being fuelled by several factors. These include the foundations for sustained economic prosperity and the rising population of ultra-HNWIs. In addition, demand for luxury yacht chartering is expanding rapidly as international tourists increasingly seek bespoke leisure experiences on the water, while the region’s broader tourism landscape continues to strengthen through increased investment in premium travel and experiential hospitality.
Complementing this trend is the surge in oceanfront and luxury waterfront developments – from branded residential communities to mixed-use marinas. All of which is creating a natural demand cycle that further accelerates interest in yacht ownership, berthing and marine leisure investments.
In response to this demand, AAA Marine has developed a fully integrated marine ecosystem for the UAE and wider region. Through strategic partnerships with global marina construction and management companies, alongside leading international yacht and boat brands, AAA Marine has made no secret of its ambition to create a “UAE Riviera”.
With Abu Dhabi’s pristine waterfront locations, all year around yachting weather conditions, 200+ islands, and hundreds of ultra-luxury waterfront resorts and growing, the UAE Riviera concept will be supported and enhanced by the complemented by a myriad of features being developed by AAA Marine. These include ultra-luxury berthing facilities, high-end yacht marinas, yacht maintenance and building facilities, recreational waterfront destinations, branded oceanfront residences, AI-powered marine showrooms, and luxury retail and F&B destinations. Together, these elements will elevate the marine lifestyle offering and support the continued growth of the UAE’s luxury yachting economy.
Speaking at today’s signing ceremony, Alaa Al Ali, Group CEO of RIC Holding & NG9 Holding, said: “It is an honour to formalise this landmark partnership with Ferretti Group – a globally distinguished name in luxury yachting.
“This agreement reflects our commitment to aligning AAA Marine with world-class brands and responding to the region’s growing demand for premium marine experiences. Through this collaboration, we will introduce elevated offerings to customers, investors, and waterfront developments, across the UAE and Oman. Indeed, AAA Marine, formed through a strategic merger between Al Otaiba Investment and RIC Holding, is uniquely positioned to drive this next chapter of luxury marine development in the region.”
In co-signing the agreement, Alberto Galassi, CEO of Ferretti Group, added: “We are delighted to begin this new chapter with AAA Marine. Their forward-thinking vision, combined with Abu Dhabi’s dynamic approach to maritime tourism development, makes this partnership particularly significant – as a catalyst for our strategic expansion into the Middle East region.
“As the UAE and Oman continue to demonstrate rapid growth potential within the luxury yachting market, we look forward to enhancing the presence of Italian-crafted excellence and timeless design for all discerning customers, across the region.”
AAA Marine’s operations in the UAE and Oman represents a clear demonstration of a long-term plan to expand strategically across the GCC and the MENA region – supported by the growing marine tourism landscape and private sector investment.