Expansion of UAE’s maritime industry

Dubai looks at building its maritime industry
Dubai looks at building its maritime industry

Recent statistics state that UAE currently ranks ninth in the world for superyacht manufacturing, with 15 projects under development.

As per the 2015 ShowBoats International Global Order Book. Local and international manufacturers are set to announce a slew of new projects for UAE at the forthcoming 23rd Dubai International Boat Show.

The event is scheduled to be held from 3-7 March of 2015 and will have boats on display worth AED one billion.

Dr Khalid Al Zahed, vice chairman, Dubai International Marine Club Board, said: “As water-based lifestyle becomes increasingly popular in Dubai, we will see this sector continue to expand and grow.”

According to Dubai Council for Marine and Maritime Industries (DCMMI), total UAE maritime industry is worth more than US$ 61 billion, with 386 boats above 24m built in 2014, up eight percent on 2013.

The UAE’s Gulf Craft is investing US$ 100 million over the next five years to develop a facility to build a shipyard for manufacture of mega and super yachts within the marine district of Dubai Maritime City.

The event looks to attract over 800 companies and brands from 54 countries. New country participants in 2015 include Djibouti, Indonesia and Luxembourg, while Italy and the USA return as top participating countries, and the event will see 45 global and regional launches.

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