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Gulf Craft Sells First Ever Majesty 88 Superyacht in Asia at Singapore Yacht Show

Dubai, UAE, 23 April, 2011: Gulf Craft , the Middle East and Asia's largest builder of FRP luxury yachts, has reported the first ever sale of a Majesty 88 in Asia as a result of its major presence at the Singapore Yacht Show. The announcement follows in the wave of the Middle East company's growing footprint in Asia.

As part of a targeted marketing initiative, Gulf Craft is currently engaged in a 6-week 'road tour' of Asia, showcasing two fly-bridge yacht models - the best selling family and charter model - the Majesty 56, and the magnificent Majesty 88, a shining example of Gulf Craft 's premium superyacht range.

"We have identified the emerging markets of South East Asia as having huge potential for luxury yachting," explained Gulf Craft 's Chief Operating Officer, Erwin Bamps. "Not only are we seeing a new generation of dynamic and wealthy business people looking for quality lifestyles, the entire area is now gradually opening up for marine tourism. It is becoming more and more feasible and attractive for an owner to keep and cruise a luxury yacht in SE-Asia."

Gulf Craft 's long and uninterrupted history of yacht building, the top-quality finish and the strength of the brand, were all further incentives for the new owner of the Majesty 88 to buy into the range. Until recently, Gulf Craft has only had limited exposure for its premium Majesty Yachts range in South East Asia, but in addition to the marketing tour, which will culminate at the Boat Asia Show on 12-15 May, the company has further strengthened its presence with the announcement of membership of the Superyacht Singapore Association.

On the first day of the 3^rd Asia Superyacht Conference, Bamps gave a key-note speech entitled "The Middle East and South East Asia - developing an interlinked superyachting industry". The speech was well received, and highlighted Gulf Craft 's vision of the emergence of a third large global yachting destination after the Mediterranean and the Caribbean. Bamps described the new region as the seas connecting the Middle East and SE-Asia cruising destinations, an area that is already seeing local charter companies and marine businesses operating successfully, and is attracting an influx of visiting cruising yachts.

"As one of the few luxury yacht and boat builders based in the Orient, Gulf Craft has supplied boats to Asia for the past 20 years," Bamps explained. "We have experienced similar client requirements both in the Middle East and Asia, with these regions still regarded as emerging markets for Superyacht ownership and operation. The sale of the Majesty 88 has now confirmed the importance of SE Asia for the sale of new boats to clients with an appetite for luxury yacht ownership, and we will continue our drive to be right at the heart of further developments in the region. We are convinced that SE Asia will be competing directly with the traditional cruising grounds of the West in the very near future, and our product range is ideally suited to these waters, and particularly to the aspirations of the potential clients who are based here."

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Notes for Editors:
Gulf Craft Inc ranks as one of the world leading manufacturers and exporters of fiberglass leisure craft, one of a handful of boat builders in the world with the capability to produce yachts of more than 100 feet in overall length.

Gulf Craft is the Middle East's and Asia's largest and leading producer of fiberglass boats and yachts, exporting over 70% of its production to 40 countries through the Majesty Yachts, Oryx and Silvercraft brands. Founded in The United Arab Emirates in 1982, Gulf Craft today produces vessels ranging from 20 feet runabouts and sport fishing boats, to 135 feet luxury motor yachts, with an annual production capacity of about 500 boats.

For further details contact:
DABO & CO:
Rijosh Joseph
Telephone: +971 (0)4 3444901
Email: rijosh.j@daboandco.com

© Press Release 2011