Bring out the super yachts

They say that bigger is better, and no one understands that better than the exhibitors at the 2017 Dubai International Boat Show, where a number of luxury super yachts are set to draw the attention of buyers and visitors alike.
Many of the exhibitors noted that the UAE and Gulf region played a critical role in their plans for 2017, with orders for luxury yachts trickling in over the past couple of months.
"The Middle east is a critical market for us," a spokesperson at Sunseeker said. "There has been an incredible resurgence in the Middle East in the past 12 months due to a combination of factors including the rebounding oil prices and favourable exchange rate."
He also revealed that the company had recorded a 41 per cent increase in sales, and that as far as orders went, the company was 80 per cent booked for 2017, and 40 per cent of orders sold for 2018 already. The company was at the show to showcase two of their award winning boats including the Manhattan 52 and the Predator 57.
Similarly, Kiran Jay Haslam, marketing director of Princess Yachts International, revealed that the Middle East had become an increasingly important market for the company in the past couple of years. "We have 21 products in our portfolio, and the Middle East was responsible for 11 per cent of all our annual production, which increased to 13 per cent in 2016. Our aim is to increase that number to 15 per cent in the coming years."
Industry trailblazer, Gulf Craft, celebrating its 35th anniversary, is exhibiting its whole range of boats for the first time at the exhibition. The 16 yachts on display are collectively worth over Dh300 million, and account for more than 20 per cent of the total value of leisure craft on exhibit at the show. The collection features six superyachts, and includes the all-new Majesty 100 superyacht.
Gulf Craft's participation comes hot on the heels of the shipyard's string of showcases in Europe, including boot Dusseldorf, where the company recently announced its partnership with luxury yacht dealer, Drettmann International. At the Monaco Yacht Show, the builder announced its plans to venture into the exciting world of mega yachts through its two 50m+ projects, the Majesty 175 and Majesty 200.
"Our coral anniversary comes at a very exciting time for the industry, one characterised by an increased worldwide demand for exclusive luxury cruising. In the last 35 years, we have manufactured almost 10,000 yachts and boats, delivered them to clients all around the world, and invested more than Dh500 million in research and development and across our facilities," said Mohammed Hussein Al Shaali, chairman of Gulf Craft.
Erwin Bamps, CEO of Gulf Craft, revealed that while the company had a stagnant year in 2016 in terms of sales, he was optimistic about the sales in 2017. "What is interesting about this region is that you have a lot of young high net worth individuals with more than $30 million in liquidity, and that number is only increasing. In the history of yachting, there has never been a larger order for mega yachts around the world. We have found ourselves hooked into this trend and our customers aren't giving us breathing space. The market niche for mega yachts is booming."
- rohma@khaleejtimes.com