Ferretti Group has appointed AAA Marine as its authorised dealer in the UAE and Oman. The appointment covers Ferretti Yachts, Riva, Pershing and Itama.
The news follows the formation of AAA Marine through a merger between Al Otaiba Investment and RIC Holding.
The signing took place at Emirates Palace in Abu Dhabi and was attended by representatives from across several industries. Under the arrangement, the Ferretti Group brands will be represented across the UAE and Oman by AAA Marine.
Global demand for luxury yachts has grown in recent years, with the sector valued at more than $8.5bn in 2025. Within the GCC, the luxury yacht market has expanded steadily and is forecast to almost double in value by 2032.
Speaking at the signing ceremony, Alaa Al Ali, Group CEO of RIC Holding & NG9 Holding, says: “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.”
Alberto Galassi, CEO of Ferretti Group, adds: “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 says its activities in the UAE and Oman are part of a longer-term plan to expand operations across the GCC and MENA region, supported by private-sector investment and growth in marine tourism.
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