BILLIONAIRES, YACHTS & THEIR HYPERCARS
The Dubai International Boat Show (DIBS) 2024 was a remarkable event that took place from February 28th to 3rd March 2024, showcasing a grand display of luxury yachts, supercars, and accessories from a diverse range of local and international companies. As the largest and most established event of its kind in the Middle East, DIBS continues to be one of the world’s fastest-growing leisure marine industry exhibitions.This multi-award-winning event attracted prestigious audience, including royal dignitaries, high-net-worth individuals, trade professionals, and members of the general public, who gathered in Dubai to witness the impressive exhibitor lineup featuring the latest innovations in the marine industry.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, visited the 30th edition of the Dubai International Boat Show.
“The evolution of the Dubai International Boat Show over the last three decades mirrors Dubai’s transformative journey as a global maritime and tourism destination and an international hub that connects people, cultures, and industries,” His Highness said.
“The event is also a unique example of how the UAE has used its historical strengths to deliver platforms for new ideas, innovation and technologies that can shape the future of vital sectors. The confluence of the global marine industry here is yet another testament to Dubai and the UAE’s pursuit of excellence, and the country’s commitment to creating new opportunities that can steer the world towards a brighter tomorrow,” Sheikh Mohammed said.
Organized by the Dubai World Trade Centre (DWTC), the Dubai International Boat Show (DIBS) 2024 offered a dynamic showcase of the maritime industry, both on land and water. The event brought together a diverse array of luxury yachts, attracting visitors and investors from around the world. As a key event in Dubai’s yachting sector and annual calendar, DIBS provided valuable networking opportunities and insights into the future of marine technology and design.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of The Executive Council of Dubai, visited the 30th edition of the Dubai International Boat Show (DIBS). As the largest and most established marine lifestyle show in the Middle East, DIBS is organized by the Dubai World Trade Centre and took place at the state-of-the-art Dubai Harbour.
During his visit, Sheikh Hamdan bin Mohammed explored the various exhibitions and witnessed the innovative products and services showcased by global industry leaders and local businesses. His presence at the event underscored the significance of the maritime sector in the UAE’s economy and emphasized the nation’s commitment to promoting sustainable marine practices.
The Dubai International Boat Show has become a premier platform for marine enthusiasts, yacht owners, and industry professionals to network and collaborate, fostering the growth of the maritime industry in the region. With Sheikh Hamdan bin Mohammed’s support, DIBS continues to contribute to Dubai’s vision of becoming a leading global hub for the marine lifestyle sector.
Speaking on the significance of the event, His Highness said: “Celebrating its 30th anniversary, the Dubai International Boat Show has once again stamped its mark as a leading gathering for the global maritime industry, as demonstrated by the presence of over 1,000 brands from 55 countries. With the world’s marine sector converging on Dubai, the event in many ways embodies the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to create a global hub where the emirate’s traditional strengths combine with innovation to offer new possibilities that anchor the future.”
In line with the Dubai Economic Agenda D33, HH Sheikh Hamdan emphasized that the Dubai International Boat Show plays a vital role in establishing the city as one of the world’s top three destinations for tourism and business over the next decade. He further noted that the event strengthens Dubai’s position as a key facilitator of global partnerships within the maritime industry, unlocking its potential for growth and development. The show’s success reflects Dubai’s commitment to nurturing a thriving and innovative business environment in the region.
During HH Sheikh Hamdan’s visit to the Dubai International Boat Show, was briefed on various groundbreaking innovations, technologies, vessels, and trends shaping the future of the maritime industry.
The catamarans attracted considerable attention from visitors, with numerous onboard visits, high levels of customer engagement, and successful sales concluded during the event. Notably, His Highness Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, personally toured the Sunreef catamarans on display, Sheikhfurther highlighting the company’s prominent presence at the prestigious marine lifestyle exhibition.
Sunreef Yachts Eco made a significant impact at the 30th Dubai International Boat Show (DIBS) by showcasing their lineup of electric catamarans, solidifying their commitment to sustainable yachting in the region. The shipyard presented three outstanding vessels: the luxury electric motor yacht 80 Sunreef Power Eco, the “Athena Too,” and the award-winning sail yacht Sunreef 80 Eco “Marie Joseph.”
THE SERENE HIGH SEAS PICNIC ABOARD THE SUNREEF 80 ECO
Sunreef Yachts Eco’s participation in DIBS 2024 underscores their dedication to promoting eco-friendly yachting solutions and contributing to the growth of the maritime industry in the United Arab Emirates.
The 80 Sunreef Power Eco is renowned for its cutting-edge sustainability technology, enabling the yacht to achieve unparalleled levels of energy efficiency and eco-friendliness. This pioneering vessel reflects the growing importance of sustainable innovation within the luxury marine industry, as companies seek to reduce environmental impact without compromising on performance or comfort.
Sheikh Hamdan’s interest in this eco-conscious yacht highlighted the UAE’s commitment to fostering a more sustainable future and supporting the development of green technologies within the maritime sector. The 80 Sunreef Power Eco served as a prime example of how luxury and sustainability can coexist, setting a new standard for eco-friendly yachting solutions.
HH Sheikh Hamdan was accompanied on the tour of the Dubai International Boat Show by His Excellency Helal Saeed Al Marri, Director General of Dubai’s Department of Economy and Tourism and Dubai World Trade Centre Authority, and His Excellency Saeed Mohammed Hareb, Secretary General of Dubai Sports Council and Senior Advisor to Dubai International Boat Show.
The presence of these esteemed individuals during the tour signifies the importance of the Dubai International Boat Show as a platform for fostering economic growth and promoting Dubai’s tourism sector. With the support of key figures such as HH Sheikh Hamdan and the accompanying dignitaries, the event continues to thrive and contribute to the development of the maritime industry in the UAE.
His Excellency Saeed Mohammed Hareb, Secretary General of Dubai Sports Council and Senior Advisor to the Dubai International Boat Show, said: “As the Dubai International Boat Show embarks on a new chapter in its illustrious history for its 30th edition this year, the event continues to be a comprehensive platform for premiering innovations and welcoming new maritime companies and brands into the local industry. It has been incredible to witness the show’s growth and enduring power to unite the global maritime industry in Dubai”
“Having been part of the show since its inception, it has been incredible to witness the show’s growth and enduring power to unite the global maritime industry in Dubai, which is now a magnet for global yachting tourism.”
“Dubai Harbour is a fitting venue for a city that is increasingly making its mark in the global maritime space. “The continued collaboration of Dubai International Boat Show and Dubai Harbour is great for the international yachting community, inspiring confidence to grow boldly with energy and enthusiasm.
The five-day extravaganza featured over 1,000 brands and more than 200 boats, including premier shipyards such as Azimut, Cranchi, Gulf Craft, Ferretti, Princess, Sanlorenzo, Sunreef, and Sunseeker. The international exhibition served as a comprehensive platform for unveiling innovations, introducing new launches, and fostering business prospects with global leaders and pioneers from the Middle East and North Africa (MENA) region.
“VIP guests have the chance to go behind the scenes of the region’s best-loved boat show for a bespoke AAA tour of the most premium selection of luxurious yachts, this platform redefines expectations,” says Trixie LohMirmand, executive vice president of the Dubai World Trade Centre. “Complementing this prestigious showcase, there is also an exclusive VIP lounge, where A-listers and industry experts meet and mingle in a luxurious lounge environment.”
“Dubai represents the new world and a new era in leisure yachting,” said Trixie LohMirmand, Executive Vice President at Dubai World Trade Centre, organiser of Dubai International Boat Show. “Dubai Boat Show and our host venue Dubai Harbour are committed to accelerate this unstoppable momentum of partnership with our international community, to build the next most outstanding and sought-after yachting hub in the world. We are proud to secure a long-term home for Dubai Boat Show here at Dubai Harbour. This shall give investors the confidence and trust to fast forward their long-term development plans in the region.”
There were 46 boat launches at the event, the Dubai International Boat Show demonstrated its commitment to supporting the growth of the yachting industry. Participating companies included nine members of the Super Yacht Builders Association (SYBAss), further emphasizing the significance of the show in the global marine landscape.
The 2024 edition of the Dubai International Boat Show was a testament to the event’s enduring success, as it celebrated its 30th anniversary at the Dubai Harbour, bringing together the entire maritime community to explore the diverse range of boats, cars, art, diving equipment, and more. With hundreds of yachts on display and the opportunity to learn about the latest trends and developments in the global yachting industry, DIBS remains a premier platform for marine lifestyle enthusiasts and industry experts alike.
The Dubai International Boat Show (DIBS) 2024 showcased an impressive array of luxury vessels, with prominent global yacht brands unveiling their latest creations. The event featured a diverse range of yachts, including the world’s largest wooden superyacht and spacious luxury catamarans. As the region’s largest and most established marine lifestyle exhibition, DIBS continues to attract marine lifestyle enthusiasts and industry experts from around the globe.
With hundreds of yachts on display and a focus on the latest trends and developments in the global yachting industry, the Dubai International Boat Show remains a premier platform for marine lifestyle enthusiasts and industry professionals to connect and explore the world of luxury yachting.
The Dubai International Boat Show (DIBS) 2024 was a remarkable event that showcased a grand display of luxurious yachts, innovative designs, and exquisite craftsmanship, reaffirming its status as a must-attend event for yacht enthusiasts and industry professionals alike. From sleek yachts and stunning catamarans to eye-catching hydrofoils, the exhibition featured outstanding design, innovation, and quality.
The Superyacht Avenue at the Dubai International Boat Show was the premier attraction, drawing over 25,000 visitors each year to witness the grand display of the world’s most luxurious and innovative yachts. Showcasing an extensive range of yachts from renowned builders, the event offered a unique platform for yacht enthusiasts and industry professionals to explore the finest vessels available on the market.
As a highlight of the show, Superyacht Avenue brought together leading brands like Feadship, Gulf Craft, Princess, and Cranchi, among others, to showcase their latest creations and technological advancements. This prestigious event not only allows attendees to admire the opulence and craftsmanship of these yachts but also offered an opportunity to learn about the future of the yachting industry.
The Dubai International Boat Show’s Supercar Avenue showcased an extraordinary lineup of the world’s most coveted cars, including prestigious brands such as Koenigsegg, Pagani, Ferrari, and Lamborghini, etc. This exclusive display of high-performance vehicles added an extra layer of luxury to the event, capturing the attention of visitors and providing a unique opportunity to admire the pinnacle of automotive engineering.
Group 63, a prestigious UAE car club, exhibited an exclusive lineup of the world’s most sought-after hypercars at the Dubai International Boat Show 2024. The display offered a rare glimpse into the pinnacle of automotive excellence, combining luxury with cutting-edge design.
As a key attraction at the event, the Group 63 exhibit showcased an array of high-performance vehicles from renowned brands such as Koenigsegg, Pagani, Ferrari, and Lamborghini, etc.. These hypercars represented the epitome of engineering prowess and artistic craftsmanship, captivating visitors and providing an unforgettable experience for automotive enthusiasts.
The collaboration between Group 63 and the Dubai International Boat Show further emphasized the show’s commitment to showcasing not only the finest yachts and vessels but also the most exceptional automobiles. The presence of these coveted hypercars added an extra layer of opulence and excitement to the event, solidifying its status as a premier destination for luxury and innovation.
The Dubai International Boat Show (DIBS) indeed showcased the Middle East and North Africa (MENA) region’s prominent position in the global yachting industry. This prestigious event highlighted several key aspects of the region’s luxury yacht market:
Regional Dominance
The MENA region boasts the second-highest fleet-to-billionaire ratio globally, underlining its significance in the luxury yachting sector. This statistic reflects the region’s wealth concentration and the popularity of yachting as a luxury lifestyle choice among its affluent residents.
Superyacht Fleet
Currently, the MENA region is home to 12.6% of the world’s superyacht fleet. This substantial share demonstrates the region’s strong presence in the high-end yacht market and its appeal to superyacht owners.
According to BOATPro, there has been a consistent upward trend in the number of superyachts stationed in Dubai over the past five years. From 2019 to 2022, the number of yachts over 24 meters in length grew from 67 to 130, with 2023 projected to surpass previous records. While multiple factors contribute to this increase, including an uptick in Russian-owned vessels, it is primarily the result of a deliberate strategy to attract superyachts as part of a high-value business sector.
Dubai’s success in attracting superyachts can be attributed to several factors, such as its strategic location, world-class marinas, luxurious amenities, and commitment to developing first-rate infrastructure. These elements have transformed Dubai into an irresistible destination for superyacht owners, maritime professionals, and ultra-luxury tourism.
As the superyacht industry thrives in Dubai, it not only elevates the city’s tourism offerings but also generates a range of business opportunities and contributes to the local economy. With a continued focus on catering to the high-net-worth individuals and providing exceptional experiences, Dubai is poised to maintain its position as a premier destination for the global superyacht community.
Market Growth Projections
The luxury yacht market in the MENA region is poised for significant expansion:
– In 2022, the market was valued at US$306 million
– By 2028, it is projected to reach an estimated US$481 million
– This growth represents a compound annual growth rate (CAGR) of 7.8% from 2022 to 2028
Factors Driving Growth
Several factors contribute to the anticipated market expansion:
1. Increasing number of High Net Worth Individuals (HNWIs) in the UAE, expected to reach more than 228,000 by 2026.
2. Growing tourism sector, particularly in Dubai, attracting yacht enthusiasts and charters.
3. Development of world-class marinas and waterfront infrastructure.
4. Rising interest in recreational boating and water sports activities.
The Dubai International Boat Show served as a pivotal platform for showcasing this thriving market, attracting global industry leaders, and fostering business opportunities in the luxury yachting sector.
Dubai Harbour Marinas, a state-of-the-art facility located in Dubai, United Arab Emirates, is the largest and most modern marina in the Middle East and North Africa. Offering over 700 berths, the marina caters to yachts of up to 160 meters in length, providing guests and crew with full home port solutions and direct access to the Arabian Gulf’s open waters.
Abdulla Binhabtoor, Chief Portfolio Management Officer of Shamal Holding, the investment company that owns Dubai Harbour, emphasized the pivotal role of Dubai Harbour in transforming the region into a premier international yacht tourism destination.
Under the guidance of Shamal Holding, Dubai Harbour has been instrumental in driving the development of high-end facilities, services, and infrastructure to cater to the discerning tastes of yacht owners and maritime enthusiasts. This strategic vision has elevated Dubai Harbour’s status as a top destination for luxury yachting and marine tourism, contributing significantly to the region’s economic growth and global appeal.
Binhabtoor’s leadership, along with Shamal Holding’s commitment to excellence, has played a crucial role in positioning Dubai Harbour as a leading player in the international yacht tourism landscape, offering unparalleled experiences and opportunities for investors, residents, and visitors alike.
“Increasingly, superyachts from the Mediterranean region are considering Dubai as a compelling alternative to the Caribbean,” Binhabtoor said to BOATPro. “The success of the 2023 Dubai International Boat Show, held at Dubai Harbour, confirmed that the Middle East demand for yachting is not slated for slow down any time soon, which is an exciting prospect.
”Due to the surge of marinas worldwide, Abdulla Binhabtoor said it is important to provide a “unique offering that is competitive and ahead of the curve”
The Dubai Harbour Marinas’ Director, Wayne Shepherd, has reported an impressive 88% occupancy rate with annual berth holders, indicating the marina’s popularity among yacht owners and enthusiasts. Additionally, there has been a notable increase in foreign-flagged superyachts averaging 50 meters or more in length, further highlighting the marina’s ability to accommodate a wide range of vessels.
As part of the larger Dubai Harbour development, the marina is integrated with other attractions such as Skydive Dubai, the Dubai International Marine Club, and Logo Island, forming a comprehensive community that caters to maritime tourism. With its prime location near iconic landmarks like Ain Dubai at Bluewaters and Palm Jumeirah, Dubai Harbour Marinas has established itself as a leading global hub for maritime tourism, drawing visitors from all over the world.
The Dubai Department of Economy and Tourism (DET) and Dubai Maritime Authority (DMA) have played instrumental roles in supporting and transforming Dubai’s yachting community. Their collaborative efforts have led to significant improvements in the sector, fostering growth and making Dubai an attractive destination for yacht owners worldwide.
One notable example of their work is the streamlining of clearance processes for foreign vessels by DMA. By allowing vessels to clear immigration and customs at any marina, the DMA has simplified procedures and enhanced accessibility for yacht owners. Furthermore, the decision to allow vessels based in Dubai to sail without a Sailing Permit within three nautical miles of Dubai’s coastline has significantly reduced complexity, driving growth in the sector.
The strong support from DET and DMA has been crucial in facilitating Dubai’s emergence as a major player in the global yachting industry. Through their continuous efforts to improve regulations, infrastructure, and services, Dubai is well-positioned to become a world-class yachting hub and attract a growing number of international yacht owners and businesses.
Gulf Craft, a legacy show partner, participated in the 30th edition of the Dubai International Boat Show with an impressive lineup of 15 vessels. As Dubai has experienced significant population and infrastructure growth, the city has become an essential sales point for superyacht manufacturers worldwide.
At the Dubai International Boat Show, Gulf Craft showcased two remarkable vessels that embody the company’s “Legacy in Motion” vision: the award-winning Majesty 111 and the beloved Nomad 101. Both yachts have garnered acclaim during their 2023 world tours, demonstrating Gulf Craft’s dedication to cutting-edge design, unparalleled performance, and continuous innovation.
The Majesty 111, a superyacht that made its global debut at the 2023 Dubai International Boat Show, combines modern technology with timeless elegance. Its spacious layout, top-notch amenities, and impressive performance capabilities make it a sought-after choice for luxury yachting enthusiasts.
The Nomad 101, another celebrated yacht from Gulf Craft, is designed for long-range cruising and offers an ideal blend of comfort, functionality, and style. It is specifically crafted to meet the requirements of adventurous seafarers who desire a reliable and luxurious vessel for extended voyages.
By showcasing these two exceptional yachts at the Dubai International Boat Show, Gulf Craft reaffirmed its commitment to pushing boundaries in the maritime industry and catering to the evolving needs and aspirations of yacht owners worldwide.
Mohammed Alshaali, Gulf Craft’s Chairman said, “The Dubai International Boat Show holds a special place in Gulf Craft’s history. As we mark the 30th edition, we proudly continue our tradition of excellence, sharing our passion for the sea with the global marine community.”
Gulf Craft, a leading luxury yacht manufacturer, has announced the formation of the Gulf Craft Group during a press conference at the Dubai International Boat Show 2024. This strategic move aims to enhance the company’s global expansion efforts and consolidate its position as a key player in the international yachting industry.
The Gulf Craft Group will encompass the renowned shipyard Gulf Craft Inc., as well as Gulf Craft Maldives, bringing together the company’s diverse portfolio of yacht brands, shipyard services, and facilities under one umbrella. This integration is expected to streamline internal processes and facilitate the company’s growth in vital global markets while maintaining its commitment to manufacturing excellence in the United Arab Emirates.
With the creation of the Gulf Craft Group, customers will have access to a comprehensive range of premier yacht and boat brands, including Majesty Yachts, Nomad Yachts, Oryx Sports Cruisers, Silvercraft Boats, SilverCAT Boats, and Touring & Utility Vessels. This strategic move demonstrates Gulf Craft’s dedication to providing exceptional on-water living experiences and driving innovation in the maritime industry.
Mohammad Alshaali continued: ‘This move isn’t just about expanding into international markets—it’s about providing our customers with streamlined services and unparalleled excellence. This announcement marks a thrilling new chapter in our maritime journey, solidifying Gulf Craft Group as the central hub for all things Gulf Craft.’