Published: Thursday, 16 January 2014

UAE-based Gulf Graft has become the world’s 10th biggest producer of yachts over 24 metres, according to Boat International Group’s 2014 Order Book. Gulf Craft is currently producing 15 of the 18 superyachts under construction within the United Arab Emirates.

The volume of Gulf Craft’s production is so high that it has propelled the UAE into the world’s top 10 rankings for superyacht producing nations, coming in at number nine ahead of Greece in 10th spot.

 Gulf Craft Ranked 10th Globally 1

Gulf Craft Chairman Mohammed Hussein Al Shaali said: “Gulf Craft takes the opportunity to congratulate the UAE President, the UAE Vice President and Ruler of Dubai, all the rulers of the UAE and the Emirati people for this achievement. The news coincides with the recent celebration of 42 years of the Union and the recent win of the Dubai Expo 2020 and is yet another endorsement of the UAE’s successful economic standing. The UAE today is a prominent player on the global stage and in recent years has consolidated its position in a number of different key sectors. At Gulf Craft we are honoured to be a part of this accomplishment and to contribute to advancing the UAE’s global position among the world’s leading yacht-building nations.”

The 2014 Order Book also revealed that for the first time since 2009, the number of superyachts being produced worldwide has increased. The report states that 735 vessels are under construction or on order, up from 692 in 2013. This, the report states, is "certainly good news” for the industry.