Sep 18, 2014

Will Abu Dhabi, UAE be the new hot spot for Luxury Yachts, after Monaco ?

Sultan Bin Tahnoon, Abu Dhabi.

At Abu Dhabi, UAE, based luxury yacht manufacturer Gulf Craft is moving into superyacht production combining with Holland’s Icon Yachts BV.

The two yacht builders reported that they will collaborate to build a 52 metre superyacht that would be priced at about 30 million Euros.

The joint venture was announced at Yas Marina where the Abu Dhabi Yacht Show 2010. The superyacht builders Icon and Gulf craft said the new superyacht will combine Gulf Craft’s expertise in composite yacht manufacturing and Icon’s proven steel superyacht engineering and construction capability.

“We have a number of clients who are considering acquiring larger yachts, but wish to maintain their relationship with Gulf Craft the new 52 metre will allow them to do this,” said Nasser Alshaali, Gulf Craft’s chief executive officer.

ICON 225, A 220ft new Seaworthiness, timeless design

“Gulf Craft was the first yard to produce superyachts in the region with its majesty line. Our collaboration with Icon will help grow our market share further, and establish our presence in even larger yacht building segments,” he added.

“The major engineering element of the superyacht is being done in Holland, while the external structure is built in the UAE,” he added.

Koersvelt claimed their superyacht will be about 20 per cent cost effective than the competitors.

Gulf Craft’s Alshaali said since 2000, they have sold and delivered 18 superyachts. They are building their yachts at their facility in Umm Al Quwain.

Founded in 1982, Gulf Craft is the Middle East and Southeast Asia’s largest producer of fiberglass boats and yachts, exporting 70 per cent of its production to global markets.

While Super yacht brokerage Burgess Yachts will be featuring a combined billion-dollar inventory of yachts at the Monaco Yacht Show, Cannes Yachting Festival and Fort Lauderdale International Boat Show. The brand’s presence at these festivals will present the yachts among other top yachting companies and will demonstrate the new boats as well as several different fleets.

By being at the top yachting events this season, Burgess is likely to attract the attention of consumers and competitors with its fleets.

“Because the three shows have different audiences and different markets, they need different fleets since they are quite different shows,” said Alev Kargulle, director of marketing and communications at Burgess Yachts, London.

Now is UAE going to the be the new hot spot for Luxury Yacht show after Monaco ? 

It may well seem, that the Luxury industry is evolving and of course the Middle East taking an aggressive approach towards future development. 

Provided, the track record of the Elite and Royal investors, patrons of Luxury the tables may have turned a bit already.