International News: Middle East superyacht market

Superyacht market focuses on Abu Dhabi.

By IBI Magazine/David Robinson. The first day of the Abu Dhabi Yacht Show (ADYS) lived up to expectations by all accounts. This high profile event, held at Yas Marina, means the global superyacht market focus is definitely on the Middle East this week.

Now in its second year with around 140 exhibitors and an anticipated 10,000 visitors, ADYS is highlighting the expanding Middle East superyacht market and the many opportunities it offers, as well as underpinning the firm ambitions of Abu Dhabi to become a major superyacht hub in the region.

Yas Marina, which has just been bought by the Emirate’s government, provides a clear indication of its ambitions and that there is much more to come. According to the Abu Dhabi Tourism Authority, the Emirate will eventually have some 45 marinas by 2030 as laid out in its tourism development plan.

Currently there are 1,600 berths in six marinas with superyacht berths fetching up to Dh300,000 each, according to local Bellingham Marine partner Septech.

Aldar Marinas, which developed Yas, plans to build 14 marinas in Abu Dhabi with 3,500 berths. The Tourism Development Investment Co has also launched two new marinas at Saadiyat Island, providing 1,000 berths across three marinas.

As for yachts, details have been given of the first cooperation between local superyacht builder Gulf Craft and ICON Yachts. This involves a 52m (171ft) vessel that will combine the composite experience of GC and ICON’s steel work.

Fincantieri’s stand includes a model of the 134m (440ft) yacht designed by Espen Oeino, which is due for delivery this summer. It is also launching its 130m (427ft) Magellano concept design. This has been designed in association with Camillo Constantino and is at the larger end of the range of concepts that Fincantieri offers.

Heesen Yachts also announced a joint venture with VistaJet at the show, reflecting the increasing synergy being developed between their two respective markets.

The first of three designs being developed by Lebanese designer Elie Saabe in collaboration with Weyves Couture, a division of Weyves International, were also unveiled. The first one, the ES117, is a 117m (384ft) design with a steel hull and aluminium superstructure. The yacht, if ordered, is set to be constructed by Oceanco and will be able to accommodate 24 guests.

A model of the green superyacht Soliloquy, designed by Alastair Callender, was also on display at the show.