Over $50m of boat sales recorded at Dubai Boat Show
Dubai International Boat Show - now in its 23rd year – is a major driver of luxury boat sales in the Middle East, and figures for deals done this year do not disappoint. As the five-day boating extravaganza came to an end on Saturday (March 7th) the organizers announced that around $50 million in sales had been recorded.
In recent years, the Middle East has emerged as one of the most promising markets for the yachting industry. This especially holds true for the category of huge superyachts, typically longer than 40 metres, as half of the owners and potential buyers come from the Middle East, mostly from the GCC (Gulf Cooperation Council) region.
As a recent infographic on our sister website wwwboatshop24.com shows, figures (from Boat International Market Intelligence) confirm that sales of superyachts have more than doubled in five years - up from 194 superyachts sold in 2010 to 412 at the end of last year.
Just as those numbers have been rocketing, so the potential pool of buyers has been on the increase. Figures from Forbes show the number of US dollar billionaires in the world has also grown by more than 100 per cent - from 793 in 2009, to 1,826 in 2015.
"Superyachts are the ultimate accessory for the mega-rich, and so it’s no surprise that the Dubai International Boat Show has registered such a healthy number of luxury yacht sales again this year," says Rob Anderson, director of online boats marketplace Boatshop24.com. “This is an incredibly lucrative market, and superyacht manufacturing in the GCC region is growing rapidly, to cater for escalating interest in these beautiful vessels.”
Dubai is the perfect setting to showcase 'Superyacht Life'
“The quality of visitors this year has been superb, and business is truly booming. The overall vibe at this year’s show is extremely positive, even amongst competitors, and it really feels like the true maritime culture coming together. There is no better place where we could have unveiled our newest superyacht, AS100, and we’re very happy to report another successful year,” said Sultan Al Shaali, CEO of Al Shaali Group.
A highpoint of this year’s show was a feature called ‘Superyacht Life’ - a gathering of the world's elite Superyacht Builders in one dedicated platform.
With many orders placed during the show and direct access to more potential customers, this proved the showcase for the leading Superyacht manufacturers. On site were Lürssen, Blohm + Voss, Oceanco, Benetti, Amels and others.
Special features at the show focused on sailing, watersports, fishing and having fun on the water.
“We know that Dubai International Boat Show draws serious buyers, and this year has been no exception. Not only have we seen the sale of superyachts and boats, but we’ve also inked three dealership agreements – one regionally and two in Europe – to supply our high quality, UAE-manufactured luxury yachts to even more buyers,” said Sultan Al Shaali of Al Shaali Group, which unveiled the AS 100 superyacht, which is valued at AED20 million ($5.45 million).
Local marine company ART Marine reported the sale of the luxury Italian-made Fiart 47, worth €800,000 ($867,424) and a 26.45m SL 86, worth €5.6 million and developed by San Lorenzo Middle East.
“It has been a very productive boat show with great results so far, and has given us the exposure we are expecting. There has been a constant flow of very serious, high net worth prospects from the UAE and GCC countries, and we are already looking forward to the next boat show,” said Tarek A. Khalil, Managing Director of ACE Marine.
Sunreef Yachts, which manufactures luxury sailing and power catamarans and superyachts from 60 to 200 feet, reported it saw strong interest in its 70 foot Damrak II luxury power catamaran, worth €2.2 million.
Photos: Dubai International Boat Show
Article: Alison Clements