Located at the Yiu Lian and Euroasia Dockyards, the centre will provide world-class supporting services for superyachts of over 45 m, including yacht refit, repair and maintenance services.

Speaking at the signing ceremony witnessed by lawyers of Stephenson Harwood, Kara Yeung, executive director, HKCYIA, said “The establishment of a yacht management services centre specifically designed for superyachts has marked a major milestone in the development of the yacht industry in Hong Kong. As more yachts are becoming bigger in recent years, the demand for quality superyacht management services is on the rise. However, existing facilities in Hong Kong are lagging behind leaving some very big space for development in this field.”

Currently the majority of the maritime business in Hong Kong is taken up by commercial and cargo ships, with the repair and maintenance systems being mainly designed for these kind of ships. However, yacht management and maintenance is another service segment which the current system cannot cater to meet their specific needs, Yeung added.