From Cruise Ships to Condos, Meyer Group JV Aims at the Floating Real Estate Biz
MEYER Group, aleading shipbuilding consortium with three modern, large-scale shipyards in Europe, has joined forces with ADMARES Marine, a leader in floating real estate, to form a new joint venture. Headquartered in Turku, Finland, MEYER Floating Solutions is focused on developing and manufacturing high quality floating real estate.
“MEYER Group had recognized great potential in the floating solutions business and identified ADMARES Marine as the market leader in this developing industry. At the same time, ADMARES Marine was looking for a strategic partner to strengthen its capabilities and maximize its potential in the market. The new venture combines the strengths of both companies and allows us to compete for the mega projects that are being built on the water,” said Kaj Casén, CEO at MEYER Floating Solutions.
“MEYER Floating Solutions is a natural addition to our current product portfolio and with ADMARES we have a great and experienced partner at our side,” said Bernard Meyer, Chairman of MEYER Group.
For MEYER Group, the JV means natural additional business to its core business of shipbuilding. The new company will continue to provide products manufactured and commissioned offsite in a controlled factory environment. Its advanced production methods enable shorter delivery times and minimized environmental impact since traditional construction sites can be completely avoided. “Traditional construction industry is a slow adopter of new technologies. With the two companies’ strengths combined, the joint venture accumulates unprecedented expertise in the field of developing and manufacturing floating solutions,” said Casén.
MEYER Floating Solutions offers a variety of floating real estate from private villas up to the world’s largest overwater installations
The new company will inherit ADMARES Marine’s product portfolio and patents. Thanks to ADMARES Marine’s significant R&D investments and pioneering expertise on overwater solutions, the new company can already offer market-ready concepts. The company has a selection of standard floating villas and hotels but also serves clients who are after fully customized overwater solutions.
MEYER Floating Solutions will continue to serve clients globally by providing turnkey services including design, manufacturing, transportation, and final installation at destination.
MEYER Group recently set a goal to develop a climate-neutral cruise ship concept by 2025, and to achieve carbon neutral shipbuilding by 2030. The newly formed MEYER Floating Solutions will follow this path and has defined sustainability as one of their core values.
Photo courtesy MEYER Floating Solutions
