Business | General
Boat ownership in Dubai to rise
As many as 30,000 to 50,000 boats are predicted to be moored in Dubai within the next five years, according to projections by Dubai Maritime City (DMC).
- Staff Report
- Published: 23:41 March 11, 2008
- Image Credit: Hadrian Hernandez/Gulf News
- Crown Prince inaugurates event Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, tours the 16th Dubai International Boat Show after inaugurating it at the Dubai International Marine Club yesterday.
Dubai: As many as 30,000 to 50,000 boats are predicted to be moored in Dubai within the next five years, according to projections by Dubai Maritime City (DMC).
Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, on Tuesday inaugurated the 16th Dubai International Boat Show (Dibs) at the Dubai International Marine Club at Mina Seyahi.
Following the opening he toured the event, which this year attracted more than 800 companies from 48 countries. Taking place from March 11-15, this year's show will be 20 per cent bigger than last year.
DMC said boat ownership levels in Dubai will increase 15 per cent within the next year as a result of the increased availability of berthing space and better maritime facilities.
It is making final preparations to complete the first phase of its marina berth project, and showcase its facilities as the main supply, service and refit centre for leisure boats and yachts in the region.
"Although much of the maritime infrastructure is still being developed, the sector is now growing by more than 10 per cent," said Amer Ali, chief executive of DMC.
"[It is] a strong indication of the increasing confidence in the local market and Dubai's enormous potential in this industry. With more berths, better marine facilities, and more suppliers, we expect boat ownership to really take off in the near future, especially in the leisure boats and yachts categories," he said.
Dubai has traditionally been a boating community with its proximity to the Gulf and the expansive creek.
But despite the strong purchasing power of residents, ownership of boats and yachts has achieved less-than-expected growth in the past few years primarily because of insufficient berthing areas.
Berthing facilities
To address this, DMC will plan extensive berth facilities that will be able to accommodate a large per centage of the 30,000-50,000 boats expected to be moored in Dubai within the next five years.
The boat ownership ratio is 1:45 in Sydney, and 1:12 in Norway. Exhibitors at the Dibs announced that they expected the Gulf to quickly overtake Europe in terms of per capita boat ownership.
"With the third phase of construction well underway, we are confident that many of the international visitors to the Boat Show will be impressed by the rapid progress and many benefits offered by Dubai Maritime City," Ali said.
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