The UAE-based shipbuilder Gulf Craft has announced a spike in sales during the first half of 2021, recording a 42 percent increase in the value of its global order book, compared to the full year of 2020. The shipyard has secured 71 orders for its range of yachts in H1 of 2021, with 32 having been delivered so far.
In our recently released market report, The State of Yachting 2021 from SYT iQ, we found that the UAE is now the eighth highest country for new-build superyacht's over 30-metres, one place higher than in 2020. We have also seen however, that in 2020 the UAE were accountable for four new-build superyacht sales, which was 2% of the market, but in 2021 have only been accountable for one new-build yacht sale, around 1% of the market. We can also see that the UAE owner’s make up one of the higher portions of ownership in the superyacht fleet, at around 3.4% in 2021.
- Gulf Craft premiers world’s largest composite superyacht: Majesty 175
- Inside the magnificent Majesty 175 by Gulf Craft
Strengthening its position in its home market of Dubai, Gulf Craft has announced a partnership with P&O Marinas, to open a dedicated sales centre at Mina Rashid Marina, the home port of many of Dubai’s superyacht's. The centre will also include a design studio.
Talal Nasralla, CEO of Gulf Craft, commented on the rise in sales, “The strong performance in the first half of this year reflects the growing appeal of Gulf Craft’s vessels among boaters from across the world, who appreciate our exceptional craftsmanship and attention to detail. We have seen demand increase exponentially across all our five brands… with customers from the GCC region, the US, Europe and Australia. Our expanded dealer network and stronger partnerships in the UAE will drive our continued growth through the rest of the year and beyond.”
