Yacht builder Palm Marine has granted exclusive dealership rights in the Maldives to VA Private, it has been announced.

Palm Marine's first non-GCC dealership agreement was signed by Harald Schlegel, Business Development Manager of Palm Marine and Ahmed Hamza, Director of VA Private.

It was then formalised with VA Private placing an order for three yachts from Palm Marine, a Dubai World company operating under the umbrella of Drydocks World.

VA Private Limited Group, a Maldives-based compan,y offers a range of service and product solutions in trade business and tourism in the Maldives, a spokesman said.

Its offerings extend across various sectors including hotel and resorts, trade and tourism, shipping, imports and exports, construction, urban development, and general trade.

Under the deal, VA Private will sell Palm Marine yachts exclusively to buyers in the Maldives and also use few yachts to charter VIP customers from the company's two island resorts, Filitheyo and Medhufushi.

"The desirable location of the Maldives islands make it a natural marine leisure destination. Palm Marine's foray into the Maldives is very much in line with the company's global expansion strategy," said Schlegel.

"With a strong presence of boating and yachting enthusiasts, the Maldives holds immense growth potential for us," he added.

"We have found an excellent partner in VA Private. The company's established presence and expertise in the travel and tourism industry will help us target local buyers looking for European quality yachts. We look forward to working closely with VA Private to offer buyers the most qualitative products and services possible."

Headquartered in Jebel Ali Free Zone, Palm Marine is at the centre of the region's yachting and maritime development.