The UAE has become one of the top ten countries in the world when it comes to building superyachts, it has been confirmed. It is currently ranked 9th, with 14 newbuildings with a combined length of 611m currently in progress.
The largest superyacht project in the Emirates is the much-anticipated Majesty 175 by local builder Gulf Craft. One of the biggest exhibitors at the forthcoming Dubai International Boat Show, the UAE-based manufacturer of luxury boats and yachts will be showcasing a selection of its vessels at the event.
The Middle East is a key marketplace for superyachts, with 205 high-end vessels over 40 m in length registered in the region. This figure, which accounts for around 13 % of the total global fleet of 40m-plus long yachts, is expected to grow steadily over the next few years.
By attracting superyacht makers from across the globe, the Dubai International Boat Show – which takes place 27th Feb – 3rd March 2018 – plays a vital role in developing demand and maintaining interest. Plans for new mega marinas and harbours in the UAE are designed to further increase this demand by creating thousands of new luxury berths in locations that will appeal to the owners of both superyachts and medium size leisure crafts.
Currently under construction at the north end of Dubai Marina, the Dubai Harbour project is due for completion in 2020. It will then also become the new home of the Dubai International Boat Show, which this year will be held at Dubai Canal, Jumeirah.
Trixie LohMirmand, senior vice president, Exhibitions and Events Management of Dubai World Trade Centre (DWTC), said: “The latest industry figures paint a very positive outlook for the superyacht and medium sized vessel market both regionally and globally. The figures show just how important the region is to the world’s superyacht industry, and how important Dubai International Boat Show has become as a platform for the world’s best companies to showcase their products and skills to an active and engaging customer base.”