Luxury Yacht Firm Appoints New Boss

ART Marine, an Abraaj Capital portfolio company and the Middle East’s largest importer and distributor of luxury motor-yachts, announces the appointment of a highly experienced CEO from the United States to drive its expansion in the region as demand for pleasure craft begins to recover.

Demonstrating the Gulf’s continued ability to attract some of the world’s most talented professionals, Constantinos Constantinou joins Dubai-based ART Marine from Cobalt Yachts in Tennessee, where he served as President.

Mr. Constantinou began his career in Cyprus with Cobra Marine Services. In 1995, he joined the Sea Ray division of Brunswick Corp., the U.S.’s biggest marine manufacturer. There, he served as Senior Vice President for Strategic Alliances & International Operations. He joined Cobalt Yachts in 2005.

“Constantinos’ broad marine operations expertise, combined with his 20 years experience in various high-level positions in the marine industry, will make a significant contribution to ART Marine and its customers,” said Alessio Tumbiolo, Chairman and co-founder of ART Marine.

ART Marine, the region’s exclusive dealer for Benetti, Azimut, Atlantis and Riviera yachts, has been expanding across the Middle East with operations in five countries, including the UAE, Bahrain, Kuwait, Qatar and Egypt. The firm is the only yacht dealer in the region offering extensive after-sales services. Demand for luxury yachts in the Middle East has exploded over the last 10 years, driven by increased wealth generation and the development of marinas in the Gulf and Red Sea.

“I’m excited to join ART Marine and to be leading such a high-caliber team. The Gulf region is one of the most promising markets globally, and the affinity for pleasure boating and yachting is increasing steadily,” Mr. Constantinou said. “We are introducing new standards by implementing a 360-degree marine hospitality strategy that encompasses a wide array of services such as sales, maintenance, after-sales support, chartering, brokerage, yacht management, and marina management and operations. I look forward to contributing towards the remarkable growth of ART Marine as we expand our range of products and services to all regional markets.”

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