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UAE-based Gulf Craft has seen a huge demand for boats and superyachts from all over the world over the last few months.
Global boat sales have increased in recent times, triggered by a post-pandemic boom that has seen consumers changing their lifestyle amid flexible work schemes. The first quarter of 2021 alone recorded a 46 percent increase in superyacht brokerage sales, according to lifestyle publisher Boat International
For the first six months of 2021, Gulf Craft posted a 42 percent increase in the value of its global order book compared to the whole of 2020. A total of 71 orders of boats and superyachts were confirmed for the first half of the year, with 32 delivered to customers from around the world.
The customers come from various markets in the Gulf Cooperation Council (GCC) region, as well as the United States, Europe and Australia.
“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,” the company said.
Gulf Craft didn’t specify whether the surge in its order book has also been due to a lifestyle shift among customers, but according to Boat International, more people are turning to the waters as borders reopen to international travel.
“Superyacht activity is ramping up as coronavirus travel restrictions continue to loosen across the world,” it said.
Brokerage firm IYC, which posted yacht sales valued at more than $450 million last year, said last May that the international yacht market has been very strong.
“With the pandemic, yachts are the safest bubble for vacation and travel,” said Mark Elliott, sales and charter consultant at IYC, in a press release.
Expansion
With the huge demand, Gulf Craft said it is looking to expand its reach worldwide, with a “significant push” into Europe, where distribution channels are set up in many territories including Germany, Spain, the Netherlands, Portugal and Australia.
“Gulf Craft’s global expansion has continued to take shape over the last six months with an additional 12 countries around the world representing the extensive product range,” the company said.
The company has also announced the development of a new factory in the Maldives and looks to double the size of its operations within 16 months.
Within its home market in Dubai, Gulf Craft had also previously announced a partnership with P&O Marinas, DP World’s collection of luxury marinas and harbours, to open its dedicated sales centre at Mina Rashid Marina.
(Reporting by Cleofe Maceda; editing by Seban Scaria)
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