The currency's pace of decline could moderate heading into year-end, but the bias continues to be towards gradual deprecation below 85
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Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Sports Council, on Sunday unveiled the Majesty 175, the world’s largest composite production superyacht, at its world premiere at Dubai Harbour.
Fully manufactured in the UAE, the Majesty 175 is the flagship superyacht by Gulf Craft and completed a series of sea trials before its global premiere.
Senior officials of the Dubai Department of Tourism & Commerce Marketing and other dignitaries toured the yacht.
The yacht will venture on voyages across the world soon, taking the UAE flag to global yacht events, marinas and exotic destinations, placing the country prominently on the world yachting map.
“The UAE has quickly rebounded as one of the world’s safest tourist destinations, further driving the growth of the yachting tourism sector. With nearly 830 superyacht projects built or ordered globally this year, the Middle East continues to be one of the strongest markets for superyachts," said Helal Saeed Al Marri, director-general, Dubai Tourism.
"The premiere of the Majesty 175 in Dubai highlights the remarkable potential for the yachting industry here,” he added.
Mohammed Alshaali, the chairman of Gulf Craft, said the company invested nearly four years of effort to build the vessel, which is faster than the usual timeframe, despite the Covid-19 challenges.
Built to the specifications outlined by the UK’s Maritime and Coastguard Agency (MCA) for yachts over 500 gross tonnage (GT), the 55-metre long superyacht with a beam of 9.6m has a gross tonnage of 780.
It was built using advanced composite materials such as carbon fibre and vinyl ester. This enables close beach access, a key consideration for many marine lifestyle enthusiasts.
The Majesty 175’s exterior and interior were designed by the award-winning Cristiano Gatto Design Studio in Italy, while the naval architecture was developed by Massimo Gregori of the Yankee Delta Studio.
Its features include a 5-m infinity pool at the forward deck and a hybrid sky lounge that can be converted to an open sun deck. It’s equipped with seven staterooms and can host a crew of up to 10 members with six large crew cabins and a private captain accommodation.
The Majesty’s Electricity supply comes from 175 kW Kohler generators and two pairs of TRAC fin stabilisers. Its safety features include a SOLAS rescue boat and an emergency generator.
It has a full speed of 16.5 knots and a cruising speed of 10 knots. Majesty 175 has a range of 4,000 nautical miles, making her a transoceanic vessel.
waheedabbas@khaleejtimes.com
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