Middle East leisure boat industry looking to Saudi Arabia for continued market growth
Middle East leisure boat manufacturers and dealers are continuing to target the Saudi Arabia market as sales in the Kingdom continue to grow by up to 20 percent each year.
Demand for leisure boats of all sizes is being fuelled by the emergence and rapid growth of marina-style real estate in the Kingdom. Several waterside projects and resorts, such as Emaar’s US$27 billion King Abdualla Economic City project, north of Jeddah, are currently under construction, creating new options for existing and potential boat owners.
“Over the last five years the Saudi leisure boat market has grown considerably with buyers emerging from all sections of society including Saudi nationals and expatriates who are eager to enjoy the perfect climate and boating conditions. Water sport enthusiasts now have access to a vast range of power boats which are perfect for fishing, cruising or even just for entertaining,” said Wassim Chaar, AS Marine.
Many visitors from Saudi Arabia will attend the Dubai International Boat Show in March, which showcases the widest range of leisure boats in the Middle East. Demand from buyers in Saudi Arabia covers all classes and variety of boat from small fishing launches to large luxury power boats.
This includes Magellan 36, Canary 24 and the 100 foot long “AS 105” power boat which was recently delivered from the UAE to its new Saudi owner.
“The “AS 105” is perfect for the Saudi waters, and is one of the most luxurious power boats available in the market. We are receiving regular enquiries from throughout the Kingdom, and we will be looking forward to making new contacts and supplying more boats to Saudi Arabia after the event,” continued Wassim Chaar.
For local Saudi market, DIBS 2006 will be the focal point of the business year, and gives each company the opportunity to showcase their fleet of boats, equipment and products to a captive world-wide audience. Such is the demand for boats and yachts in the last year that many manufacturers are currently to a waiting list of around 24 months.
“We are delighted to welcome so many buyers from the Kingdom to the Dubai International Boat Show. As the Show continues to build up a global audience companies such as AS Marine will be able to secure an increasing amount of business from the event,” said Helal Saeed Al Marri, director general, Dubai World Trade Centre.
As one of the foremost pioneers in the leisure marine industry in the GCC, Gulf Craft values the business impact of the Dubai International Boat Show so much so that it is having to increasingly develop new designs as demand continues to outstrip production.
“Participation at the Dubai International Boat Show is vital key to driving sales in the Saudi leisure boating market. Gulf Craft has continued to realise record sales year on year as part of our participation – last year incredibly selling every boat we had on display during the event,” said Mohammed Al Shaali, Chairman of Gulf Craft.
The show, organised by Dubai World Trade Centre (DWTC), will take place from 14th – 18th March 2006 at the Dubai International Marine Club, Mina Seyahi, and is expected to generate even more multi-million dollar business orders and deals for the booming Middle East leisure marine industry.