ALTHOUGH close to a third of the world’s superyachts are owned by Gulf Arabs, most are moored at locations outside the Gulf, suggesting that the UAE and the Gulf have the potential to become a sought-after destination ranked as ‘superyacht friendly’.
This opportunity should exploited to serve the needs of the lucrative superyacht marker, says Erwin Bamps, executive manager of Gulf Craft Inc, the Middle East’s biggest boat-builder.
Bamps cites positive points as being Dubai’s stable political situation, astounding economic growth, and ‘sky is the limit attitude’ to being a leading world destination for shopping and tourism.
“Customers’ first priority is a marine lifestyle, adding value to the waterfront property they invest in but being more than just a boat and a mooring space,” he said, pointing out that more marinas and mooring facilities are needed to help Dubai in its efforts to be a ‘home port’ or a prime international destination for the world’s superyacht owners.
He points out that the regional customer base for yachts has changed from mainly local nationals to predominantly resident expatriates, saying: “The market is more diverse than ever before, more demanding than ever before, and expects products and services of the same quality as experienced in mature boating markets overseas.”
Bamps draws a parallel with how Gulf Craft itself has adapted to the changing market environment over its 25 year history, developing from being a builder of small leisure craft to become a world leader in the design and production of super yachts.
Gulf Craft is one of handful of yards in the world with the capacity build yachts of more than 100 feet overall length, and is about to delivery its first Majesty 130 – the biggest yacht built in the Middle East – to a customer in Australia.
“We have moved from the functional to super yachts of increasing size,” he says, “from Gulf specific to contemporary international styling. Now, the GCC customer buys locally what he finds internationally – whatever sells in the fashion capitals, sells worldwide.
“Europe is setting the trend for all yacht and boat styling, quality of finish, and brand strategy. We are now dealing with a ‘globalised’ customer and we must be globally competitive in providing quality, unrivalled value-for-money, marine craft, and services.
“We’re not selling a product but an experience and the same principle must apply to attracting superyacht owners to locate here.”
