Althaus Yachts Champions Yachting Growth in Saudi Arabia at Monaco Yacht Show 2024
During the Monaco Yacht Show, Majed Sherbiny, Chairman of Althaus Yachts, shared his commitment to positioning Saudi Arabia as a premium destination for yachting. As the investor behind one of Monaco’s oldest brokerage houses, Majed Sherbiny is steering Althaus Yachts to unite Monaco’s established yachting expertise with the uncharted potential of Saudi Arabia’s coastline, particularly along the Red Sea. His vision focuses on welcoming the world to experience Saudi Arabia’s new maritime frontier.
Expanding Horizons from Monaco to Saudi Arabia
Majed Sherbiny’s investment in Althaus Yachts was motivated by a desire to grow beyond Monaco and establish Saudi Arabia as a unique destination in the yachting world. Reflecting on Monaco’s success as a hub for luxury, Majed Sherbiny aims to bring that level of service and expertise to the Saudi coastline, leveraging the developments underway in the Red Sea region. With the launch of Sindalah Island in the Neom project and advanced marina facilities at the Jeddah Yacht Club, these locations are now equipped with cutting-edge amenities ready to welcome the global yachting community.
The Red Sea Region: A New Yachting Destination
Majed Sherbiny views the Red Sea as an ideal destination for the yachting industry, with a lineup of luxury resorts, including the St. Regis, Ritz Carlton, and Six Senses. These resorts are drawing high-net-worth individuals and seasoned yachting enthusiasts eager for upscale, unique experiences. Majed Sherbiny believes that Althaus Yachts will play a vital role in facilitating these experiences, helping visitors access the Red Sea’s blend of unspoiled beauty and refined luxury.
A Personal and National Commitment
Born and raised in Saudi Arabia’s eastern province, Majed Sherbiny is a second-generation business leader with a family background in oil and gas. His experience in the family business and his education abroad have shaped his vision for expanding Saudi Arabia’s global presence. In 2021, he established his family office in Monaco, with Althaus Yachts as his first major investment, underscoring his commitment to introducing Saudi Arabia’s vibrant landscapes to the global yachting audience.
For Majed Sherbiny, this venture is about more than business—it’s a personal mission to showcase Saudi Arabia’s diverse and often misunderstood beauty. He describes the Kingdom as a land of extraordinary landscapes, from the Red Sea’s pristine coastline to the green valleys, ancient oases, and archaeological wonders like AlUla. Majed Sherbiny seeks to invite the yachting world to experience these “hidden gems” firsthand.
Driving Saudi Arabia’s Yachting Transformation
Since Saudi Arabia introduced its tourism visa in 2019, the Kingdom has welcomed over 100 million visitors—a testament to the world’s growing interest in exploring new destinations. Majed Sherbiny believes Althaus Yachts can play a key role in building on this momentum, drawing yacht owners, experienced charter clients, and luxury travelers to the Red Sea. Each boat show, he explains, serves as a vital platform for inviting the world to witness Saudi Arabia’s yachting potential.
Through Althaus Yachts, Majed Sherbiny extends an open invitation to experience the Red Sea firsthand—a new chapter in yachting, where tradition meets discovery.
