Althaus Embarks on a New Journey in Saudi Arabia

Monaco-based yacht agency Althaus is making significant strides into the Middle East by establishing a presence in Jeddah, Saudi Arabia.

The company is pleased to welcome the Sherbiny family as shareholders, a well-established Saudi Arabian family with over four decades of successful business experience in the Middle East.

Marco Ramundo, CEO of Althaus, expressed his thoughts on this development: « Having a local Saudi Arabian family as a partner plays a pivotal role in bridging Monaco, the yachting capital of Europe, and Jeddah, the emerging yachting hub of the Middle East. This partnership offers us a unique advantage over our competitors, enabling us to better understand and serve our clients’ needs. »

This expansion into the Saudi Arabian market presents a significant competitive edge in the yachting brokerage industry.

Althaus will inaugurate its first office in Jeddah in the first quarter of 2023. The office will be managed by experienced local professionals who will receive training in Monaco. Additionally, Althaus has plans to establish an office in Dubai before the close of 2023.

For further details, please visit Althaus.