Flagstone Property Group was awarded the rights to develop a mega-yacht marina on Miami’s Watson Island by the City of Miami. Mehmet Bayraktar, Chairman and CEO of Flagstone, has said that the project will be completed by the end of 2006. In addition to the super yacht marina, Island Gardens will also include two high-rise hotel towers including fractional residences, a maritime gallery, restaurants, retail shops, and cultural facilities. Once completed, the Island Gardens project will employ more than 1,500 employees. In Miami, Joseph Herndon, Project Director with Flagstone stated that, “Flagstone selected SeaSecure due to their outstanding reputation and the level of experience and expertise found in their consulting and engineering departments.