RIYADH: Sela signed a memorandum of understanding with Icon Saudi during the Monaco Yacht Show 2026, establishing a framework for cooperation on developing a specialized luxury yacht maintenance facility in Jeddah.

The initiative aims to build technical capabilities and bring international expertise in the sector to Saudi Arabia, giving yacht owners and operators access to essential maintenance services closer to where their yachts operate, according to the Saudi Press Agency.

The facility will complement the region's growing luxury yachting infrastructure, including Jeddah Yacht Club & Marina, and keep pace with the expansion of marine tourism across Red Sea destinations such as Amaala and Shura Island.

At present, most major maintenance work on luxury yachts operating in the Red Sea is carried out at facilities outside Saudi Arabia, particularly in Europe.

The partnership between Sela and Icon Saudi aims to close this gap by building the technical capabilities and specialized services the sector needs, contributing to Jeddah's growth as an integrated tourism and economic destination, in line with the goals of Saudi Vision 2030.

The MoU follows the announcement of the Red Sea Yacht Show, which will take place from Oct. 14 to 17, 2027, at Jeddah Yacht Club & Marina.

The show and the facility are complementary steps toward serving the international yachting community in Jeddah throughout the year, combining global events, infrastructure, and the specialized services needed to sustain the sector's growth in Saudi Arabia.