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Richard Branson to create Virgin Cruises as ship project gets money to go ahead

Richard Branson © Jonathan Carroll Richard Branson

British entrepreneur Sir Richard Branson on Monday confirmed that his cruise ship project, which is said to be worth $US1.7 billion ($1.85b), is on track as the company has secured most of the funding.

Earlier this month, it was reported that the British billionaire was looking for investors in the region including from the UAE for its cruise line project.

“It’s true that we are looking to set up Virgin Cruises and most of the money is now committed,” Branson told select media in Dubai on Monday. He also hinted that some funding is likely to come from Gulf.

“We are building two large ships quite from scratch and we feel that the Virgin brand will work well with cruises... it is definitely something that I like to go on and something that my children like to go on,” the Virgin Group founder said.

The project would take a while to become operational due to the ship-building process, he said, adding that it would complement other leisure arms of the Virgin Group, which include Virgin Holiday Cruises.

Branson is in Dubai to address CEO Forum 2014, the fifth held under the du Leadership Series. This year’s theme is “Innovation Odyssey”.

Talking to the media, he said that investment to support entrepreneurs is very important because it helps others. “I suggest that the governments in this region should seriously consider that it’s fantastic investment to the country if you create hundreds of new entrepreneurs that creates a lots of jobs,” he said.

“I have been very fortunate to help new young entrepreneurs to get them established businesses. One of the best ways to become entrepreneur is just to get out and do it as it’s difficult to be taught it.”


Richard Branson © Jonathan Carroll Richard Branson Cruising along : Sir Richard Branson. © Jonathan Carroll Cruising along : Sir Richard Branson.
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