The Ferretti Group this week opened a Superyacht Yard in Ancona, Italy. The company said it refurbished a building in Via Enrico Mattei that will house the management team, design and planning office, and a department dedicated to aluminum and steel yachts.

“2023 is an important year for us, one packed with new developments and even more growth. The dual listing in Milan and Hong Kong, the Ravenna shipyard acquisition, and today, here in Ancona, a new space that speaks to the future and to Italian luxury,” CEO Alberto Galassi said in a statement. “This new area, which completes the Ferretti Group Superyacht Yard, is another step forward for our research into technology and style.”

The Ancona yard covers a total of 20 acres, with the new facility covering 45,200 square feet, including 32,292 square feet of space for the technical team, project managers and architects, purchasing, planning and control, logistics, production management, project engineers, foremen and a reception area.

The yard includes nine sheds in which 24 superyachts can be built. The company calls the expansion a “key milestone in consolidating the Ferretti Group Superyacht Yard as a strategic multibrand yacht construction hub.” The group said it will build CRN superyachts and megayachts, the Custom Line range, Riva yachts larger than 50 meters and Pershing 140 units at the yard.