Dubai: Knotika Holding recently launched a Dh73 million ($20 million) Marine Mall complex where varied products will breathe life into established brands.
The 35,000 square foot complex is set to house around 100 companies providing a full range of services to boatmen and the yachting industry in the emirate.
Those companies are ranging from boat manufacturers to finance and insure companies, as well as a school to teach navigation and boating safety.
Knotika Marine Mall represents Knotika Holding's vision, which is reflected in the strategy of putting greater emphasis on the yachting industry.
The one-stop boat shopping complex plans to meet the increase in demand by bringing together boating companies and service providers under one roof, and facilitating the potential customer's purchase.
"We now have the largest hub in the Middle East. It's the biggest in the world, and it will thus generate a worldwide demand that will be higher than the supply," said CEO Wael Juju.
"Dubai is the sample project. We have franchised the whole scheme in one year in the whole region and we may expand to Europe and North America," adds Juju.
The show complex conception is meant to trigger healthy competition among different companies by offering unique retail and wholesales solutions. Hence, it highlights customer needs for various yachts, boats and other marine gear in a competitive way.
"With the building of the megastore complex, we are enhancing the Gulf marine sector and providing marine customers with services that suit their every need under one roof. The market for boat sales in Dubai is expected to grow 500 per cent in the next five years stemming from marina development projects such as the Palm Island Jumeirah, Jebel Ali, The World and Dubai Marina," adds Juju.
