The rapid development of new waterfront properties in the region with an emphasis on marina developments and facilities has resulted in increased interest and demand in the boat and yacht industry.
Increasing investment in marinas and beachside property, the rise in support services and growth in the number of dedicated sailing and boating events have also contributed to the rapid expansion of the overall market. The growth potential of the marine sector is already attracting massive foreign investment as the Middle East waterfront development is estimated to attract over US$ 20 billion over the next four years, according to recent media reports.
To cater to the growing demand for luxury yachts and boats and maintain a 30-40 per cent growth over 2005 revenues, the Marine Division of Al Yousuf LLC will be display a range of state of the art models to suit discerning boat connoisseurs.
“Marina and waterfront developments are now a global multi-trillion dollar industry as people have more disposable income and more leisure time,” said Nizar Anik, director, Al Yousuf Industrial Establishment. “The growth of the regional boat market is an indicator of strong Middle East economies and, as the leading manufacturer and distributor of pleasure crafts, fishing boats and engine we are seeing a significant demand for our crafts. The Dubai International Boat Show highlights the significance of the thriving regional boat building industry and we are proud to take part in this event.”
Al Yousuf Industrial Establishment, a division of Al Yousuf LLC, manufactures boats under technical license from Yamaha Motor Co. Ltd, Japan, and has seen strong demand for their craft in 2005. The company has produced over 2,200 boats since they began manufacturing, with 2004 and 2005 producing the strongest demand for its products to date.
“Boats manufactured in the Middle East are in demand internationally and we aim to cater to this growing segment with a range of boats and yachts,” said Anik.
“Other products on display at the 2006 Boat Show include the new Yamaha sports cruiser model from its luxurious Sea Prince range, and a host of nautical goods, engines and recreational pontoons. Al Yousuf will also introduce the new Yamaha four stroke F250hp and F150 outboard engines at the show along with the new Yamaha 315 horsepower stern drive diesel inboard diesel engine. The 2006 lineup of Yamaha wave runners will also on display at the show,” explained Marwan Sami, director, Bike and Marine Division, Al Yousuf LLC.
Al Yousuf LLC was founded in Dubai in 1953 and since that time has steadily grown to become one of the leading commercial groups in the UAE. Al Yousuf operates across a wide range of industries, including automobiles, marine, manufacturing, real estate, information and communication technology, electronics goods and chemicals.
With ‘partnership’ at the core of all its activities, the Group has developed strong value-added relationships with major international brands Chevrolet, Yamaha, Daihatsu, Daewoo and Suzuki in the auto and marine segments, LG in electronics, and ATI/Sapphire, Avaya, CNet, Concerto-Aspect, Epson, NEC, SimpleTech, ViewSonic and Western Digital in the ICT sector.
