Monday , March 8 2021

Al Ittihad newspaper – Dubai is preparing to become a global capital for luxury boats





Al Ittihad Newspaper

Economic development


Yacht Marina in Dubai

Yacht Marina in Dubai

Dubai is ready to become a global capital for luxury boats as it continues to attract international companies to invest in this important sector to exploit their growth opportunities locally, regionally and regionally.
In an effort to strengthen Dubai's position as a preferred international destination for yachts, luxury boats and associated economic activities, Maras announced today, in cooperation with Dubai Holding, the signing of an agreement with DeGreen in the Eastern Mediterranean to attract international investment in the sailing sector and the different sectors that support it. The yacht market and its requirements for marine quays, logistics needs, maintenance and management are characterized by high costs. The proportion of yachts and luxury boats from world tourism grows. This activity is also increasingly contributing to tourist and investment attractions with rich boat owners.
More berths are needed locally, as demand for the region continues to grow, as the Gulf region is leading the growing growth of the world's 23 billion yacht and leisure boat market by the end of 2018, according to a new report from Global Consultancy & Forrest and Sullivan, "which predicted market growth between $ 28 billion and $ 30 billion in 2022.
The sector witnesses a remarkable development in Dubai and the UAE as a preferred global lifestyle destination and a kiss for the rich from all over the world who want to live and live in luxury. The total value of the maritime sector in the UAE is expected to amount to approximately $ 66 billion by the end of 2018. The value of the pleasure craft industry to $ 1.3 billion to $ 1.5 billion. UAE has risen to ninth in the world with the number of boats manufactured this year and confirms its leading position in the leisure industry with 14 luxury boats with a total length of 611 meters.
In the Gulf area and the Middle East in general there is a growing need for marine marinas. The region is an important market for luxury boats with 205 luxury boats with a length of more than 40 meters, equivalent to 13 percent of the world's total boat fleet. The number of luxury boats worldwide has increased by 7 percent over the last three years, according to a new report from the Saipas Luxury Yacht Association.
The partnership agreement between Maras and Dubai Holding and DeMarine, one of the largest marine players in six major international destinations, is a commitment from Maras and Dubai Holding to contribute to the diversification of Dubai's economy and to strengthen its position as a destination. A great holiday and luxury marine tourism in the region and the world.
The agreement was signed by Abdullah Al-Habbai, chairman of Maras Group, chairman of Dubai Holding and Frit Shahnak, chairman of the Dugosh Group, which owns a share in De Marin, representing the latter in the MP 92 in Barcelona.
The joint venture between the three parties will manage and operate the existing marinas and quays developed by Maras and Dubai Holding, including docks in Port de la Mer, Dubai Harbor and Jumeirah Beach Hotel. The partnership will also seek to establish a regional center for International standards for renovation, servicing and maintenance of luxury boats and boats in Dubai, similar to the center of "De Marin", currently serving branches in Barcelona and Spanish and French.
With the upcoming operation in Dubai Harbor, Maras will consist of the largest boat centers in the Middle East and North Africa with 1,000 quays, which doubles the quays in the Emirate.
The agreement also aims to develop additional facilities for the Middle East and Far East Marinas in the long term through a comprehensive system of services and investments covering other sectors.
Through the implementation of this partnership, De Marin focuses on marine management through its advisory services regarding engineering and design aspects of construction marine anchors at a competitive cost. The establishment of a local base in Dubai will also ensure integration with its current operations in south eastern Europe and the eastern mediterranean region. The company also provides marketing and advertising support in addition to leadership's accumulated experience and best practice. The partnership aims to provide world-class services to boat and yacht owners and users around the world as well as a calendar of marine activities, boat racing and other marine events that help to strengthen Dubbin's position as a global hub for this sector.
HE Abdullah Al-Habbai, Chairman of Maras Group and Chairman of Dubai Holding, said: "The success of the two companies to attract a global company like De Marin to invest in luxury boats is part of the view of His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Government in Dubai, on promoting Dubai as a leading international tourist destination.
He added that this move is also a contribution from Maras and Dubai Holding to the implementation of the Dubai 2021 plan to diversify the Emirates economy and promote its sustainable growth by increasing the contribution of vital sectors such as tourism and associated activities such as luxury seaports and shipping to GDP To improve Dubai's position as one of the five largest international tourist, trade, transport and finance centers.
He added that this agreement helps to attract new foreign investment in Dubai that achieves high growth of direct investment in high value-added sectors, making it a list of business-friendly cities.
Al-Habai said that Dubai has an attractive comparative advantage in marine anchors because of the long-standing marine heritage of the emirate. This strategic agreement with DeMarine will exploit the combined skills of developing marine facilities and services, providing infrastructure and improving Dubai's presence as a preferred destination. For owners and lovers of yachts in the world.
"Dubai has become an inspiring story for decades and DWGUS has grown since 2011 with its property and hospitality business," said Frit Shahnak, CEO of Dugosh Group. "I am very grateful for the opportunities Dubai has offered them.
Through this partnership and the regional hub of Dubai, the Group will invest in promising long-term prospects, he added. "We are looking forward to exploiting the opportunities in the management and development of naval waters in the Gulf area.

Source: WAM

Al Ittihad newspaper – Dubai is preparing to become a global capital for luxury boats

https://www.alittihad.ae/article/74430/2018/ Dubai – to become – capital – global – marinas – yachts – luxury


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