Superyacht owners from the Middle East own the longest and most luxurious yachts in the world, according to the Superyacht Builders Association (SYBAss).

 

The association's members are set to take part at the Dubai International Boat Show, which will run from March 1 to 5 at the Dubai International Marine Club - Mina Seyahi.

 

The continued demand for superyachts among high net worth individuals (HNWIs) drives their attendance to the premium leisure marine event, as it acts as a platform for them to learn more about new models being launched by the world’s leading maritime industry players, according to the organisers.

 

More than 193 superyachts, or 12 per cent of the global fleet of yachts over 40 metres in length, are owned by people from the Middle East with an average length of 63 metres – the highest in the world, they said.

 

Theo Hooning, secretary general, SYBAss, said: “The Middle East is one of the traditional markets for the superyacht industry. Most of the world’s largest yachts have been delivered for this region, and the historic demand from this region has been vital for the growth of this sector.

 

“The demand for superyachts from the Middle East can be classified as fairly stable over the years, while others may have been more volatile, and we have hopes that the stability and demand for superyachts in the Middle East will continue as is.”

 

The superyacht market is now the strongest it has been since 2009, with research from Boat International claiming more superyachts are being built around the world now than at any time since the end of the global financial crisis, said a statement.

 

Their 2016 Global Order Book – the pinnacle report for global yacht builds – found that 755 superyachts of 24 metres or longer are on order this year, up from 734 in 2015, it said.

 

The market has also been boosted by the growing demand for explorer yachts as owners seek to visit remote destinations, according to Boat International, with an increase of 17 per cent on last year’s explorer yacht builds.

 

Erwin Bamps, chief executive officer, UAE-based superyacht builder Gulf Craft, said: “We noticed the trend towards long-range and fuel efficient yachts several years ago and used the Dubai International Boat Show in 2015 as a platform to premiere our Nomad Yachts range of long-range explorer yachts. 

 

"We know that yacht owners are not only wanting to venture further out to sea, but also stay out longer. This is the idea behind our Nomad Yachts brand, and why we’re seeing a solid interest in the Nomad 75 from across the high-net-worth marine leisure players.”

 

“We have supported the show since its creation 24 years ago, and we continue to see it as our platform to profile ourselves not only to the region, but to the world. It’s why we’ve chosen it to unveil new concepts and our newest superyacht to the world, and why we will always see the show is a crucial partner in our success,” added Bamps.

 

Meanwhile, the show has long recorded strong participation of HNWIs, defined as having investable finances in excess of $1 million. More than 20 per cent of its overall annual attendance comes from HNWIs seeking to enter, or broaden, the marine lifestyle.

 

Trixie LohMirmand, senior vice president, Dubai World Trade Centre, said: “The strength of our superyacht offering and of the quality of superyacht exhibitors continues to draw some of the wealthiest boat owners and buyers from around the world, many of whom are already here in the Middle East and closely associate our annual event with the many global and regional boat launches that take place over the week here each year.” - TradeArabia News Service