on 21 Sep 2026
The partnership includes a new service centre in Malé and 15 Magellano Series yachts.
Azimut Yachts and Assets Group have entered into a partnership focused on hospitality and yacht operations in the Maldives. From 2026, the arrangement will include a fleet of 18 Azimut yachts and a dedicated Azimut Service Center in Malé.
The agreement was formally signed on September 13 aboard Azimut’s Grande 44M during the Cannes Yachting Festival.
Assets Group is a subsidiary of Power International Holding and a global destination developer. Under the partnership, the fleet will operate in connection with Waldorf Astoria Maldives Ithaafushi and Rosewood Ranfaru Maldives, extending the resorts’ services to activities at sea.
A new Azimut Service Center in Malé will support the fleet. The facility will be backed by Azimut’s Italian team and Azimut Yachts Maldives, powered by Elite Yachts, which is an established Azimut partner in the Middle East and the Maldives. The centre will provide local support for yacht operations across the islands.
“This partnership represents a major strategic milestone for Azimut across two key dimensions. First, regarding our business model, which expands into new distribution channels. Second, with respect to our brand positioning: by partnering with leaders in ultra-luxury hospitality, we elevate the ecosystem of yacht-related experiences for a discerning audience, in a highly compelling hub,” states Marco Valle, CEO of Azimut|Benetti Group.
“At Assets Group, we are shaping destinations around the full guest journey, creating experiences that extend far beyond the stay itself. Our investment in 18 Azimut yachts brings that vision onto the water, combining world-class craftsmanship, personalized service and seamless mobility.
“In doing so, Assets Group will become the operator of the largest private luxury yacht fleet in the Indian Ocean—setting a new benchmark for integrated luxury hospitality and reflecting the ambition with which we are building the future of destination experiences in the Maldives,” states Khaled Zi Alnon, Group Chief Executive Officer of Assets Group.
“The Maldives represent a high-potential market where we already enjoy a solid footprint. Here, we are set to further consolidate our leadership position, also thanks to the opening of a local service centre. It is precisely Azimut’s ability to combine market expansion with an uncompromised standard of service excellence that enables us to scale with long-term stability, while ensuring partner satisfaction at the highest level,” emphasises Enrico Chiaussa, Chief Commercial Officer EMEA APAC of Azimut Yachts.
Fifteen of the 18 yachts will come from Azimut’s Magellano Series. The fleet will operate in connection with the two Maldives resorts, Waldorf Astoria Maldives Ithaafushi and Rosewood Ranfaru Maldives.
Waldorf Astoria Maldives Ithaafushi is located across three islands, while Rosewood Ranfaru Maldives is planned across a group of private islands surrounding a lagoon.
Assets Group is a global destination developer headquartered in Qatar and a subsidiary of Power International Holding. It develops destinations incorporating real estate, hospitality, commerce and social infrastructure.
Azimut, founded by Paolo Vitelli in 1969 and part of the Azimut|Benetti Group, offers motor yachts from 42 to 144 feet across seven series: Verve, Atlantis, Magellano, Fly, S, Grande and Seadeck. The company is headquartered in Avigliana, Turin, and has five production facilities in Italy and one in Brazil. It operates in 80 countries through a network of sales and customer service centres and representative offices in Hong Kong, Fort Lauderdale, Itajai, Palma de Mallorca and Monaco.
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