DIBS – makes UAE a regional hub for maritime industry

DUBAI, 24th February, 2015 (WAM)– The UAE is set to build on its position as one of the world’s leading international yacht manufacturing hubs as local manufacturers expand their operations, international developers relocate and the maritime industry expands with coastline developments, according to industry experts.

Local and international manufacturers are set to announce a slew of new projects for the UAE at the 23rd Dubai International Boat Show, the region’s leading leisure marine event, taking place from 3rd – 7th March of 2015, and will have boats on display worth AED1 billion, according to the organisers, Dubai World Trade Centre, DWTC.

Dr. Khalid Al Zahed, Vice Chairman, Dubai International Marine Club Board, said, “This year’s Dubai International Boat Show will reaffirm Dubai’s status as a leisure marine hub. As the water-based lifestyle becomes increasingly popular in Dubai, we will see this sector continue to expand and grow in the future. Dubai’s commitment to excellence in everything it does will drive the marine industry to achieve new heights and bring more visitors to the city.” According to the Dubai Council for Marine and Maritime Industries, DCMMI, the total UAE maritime industry is worth more than US$61 billion, with 386 boats above 24m built in 2014, up 8% on 2013. The fleet of yachts in Dubai has doubled since 2009 and the DCMMI predicts the creation of a national classification society – Tasneef – and the introduction of the world’s first code governing private yachts, the UAE Yacht Code, will boost the industry’s future development.

Boosting Dubai’s position as a global maritime hub, Comar Yachts, which has produced more than 6,200 yachts to date, will relocate some of its production facilities from Italy to the UAE. The company aims to manufacture locally around 100 catamarans and powerboats per annum in the 26-46 foot range, as it looks to penetrate the wider GCC market and beyond.

Local manufacturers are also expanding activities in line with the growth in Dubai’s maritime industry, which also aligns with Dubai’s National Innovation Strategy aiming to make the UAE one of the world’s most innovative nations within the next seven years.

The UAE’s Gulf Craft is investing US$100 million over the next five years to develop a state-of-the-art facility to build a shipyard for the manufacture of mega and super yachts within the marine district of Dubai Maritime City, a world-class maritime cluster in the heart of Dubai.

Named as one of the top ten superyacht shipyards in the world, Gulf Craft has played a significant role in cementing the UAE’s position as a yacht production hub and continues to support developments that build the country’s credibility on the international marine scene.

ART Marine, the Middle East’s largest 360 degree leisure yachting enterprise and one of the show’s largest annual exhibitors, is also consolidating its presence in the region with its Oman launch and re-opening in Egypt.

Another UAE-based luxury yacht manufacturer, Al Shaali Marine, will unveil its new US$5.45 million AS100 model super yacht at the Dubai International Boat Show, which it describes as the first of its kind designed and manufactured in the Middle East.

With over 800 companies and brands from 54 countries exhibiting at this year’s show, tens of thousands of visitors from more than 120 countries are expected to attend.

New country participants in 2015 include Djibouti, Indonesia and Luxembourg, while Italy and the USA return as top participating countries. The event will see 45 global and regional launches over the five days of the show.