Gulf Craft’s Yacht Show Docks in Doha
Published: Monday, 31 October 2011
Gulf Craft Inc., a leading manufacturer of fiberglass boat and yachts in the Middle East and Asia, docked at The Pearl, Qatar from October 27-29 as the host of its unique ‘Yachting Lifestyle Show’.
Clients, media and the public were given the opportunity to view a range of luxury super yachts and yachts, sport cruisers and leisure boats from Gulf Craft’s Majesty Yachts, Oryx and Silvercraft brands at the Yachting Lifestyle Show, which was held in association with Gulf Craft’s Doha agents, Aurora Yachts and Speed Marine, as well as luxury lifestyle brand Tanagra. The Majesty 101 was the largest super yacht on display.
“The Qatar yacht market is a very important market to us. The country’s leisure marine market is vibrant with growing demand from private yacht owners and charter brokers in addition to several large waterfront developments, luxury marinas and new berthing facilities coming online in the next few years – including those capable of accommodating the superyacht and megayacht category,” said Mohammed Bin Hussein Al Shaali, Chairman of Gulf Craft.
Qatar has significant waterfront projects in various stages of development. For example, Lusail City, with a number of marinas and as many as 1,500 new berthing slots under development, is expected to become a busy maritime hub and waterfront destination when completed.
In the meantime existing luxury lifestyle destinations such as The Pearl Qatar along the coast of Doha's prime West Bay district, already have berthing facilities available with more marina facilities planned, which are set to further boost the growth of the country’s marine leisure lifestyle.
The country’s concentration of HNWIs and UHNWIs is another draw card. According to a recent report by Credit Suisse Research Institute, Qatar has the wealthiest people in the Middle East and North Africa region, with the average wealth per adult standing at $146,623 – a six-fold wealth increase since 2000.
“Qatar is a nation with a rich sea-faring culture and therefore they do not only appreciate sailing and cruising as a recreational activity, but also have a connoisseur’s eye for well-engineered yachts built to a high finishing standard,” said Al Shaali. “With Gulf Craft’s proven track record of building yachts and boats since 30 years, and exporting them worldwide, we are proud to be recognized for our efforts by our Qatari customers,” he concluded.
Erwin Bamps, Chief Operating Officer for Gulf Craft, added: “As the market leader in the Qatar market, we have a high number of yacht and leisure craft customers in this market already. We have appointed dealers in the market to ensure strong technical and commercial support for our products and have come today to Doha to show our continuing commitment to the Qatari market, as well as to invite everyone to see some of our newest product releases.”