Boat ownership in Dubai to grow by 15%

Dubai Maritime City, the world’s first purpose-built maritime centre and a member of the Dubai World Group of companies, has predicted that boat ownership levels in Dubai will increase by 15% within the next twelve months, as a result of the increased availability of berthing space and better maritime facilities.

As part of its preparations for its extensive participation at the Dubai International Boat Show (DIBS 2008) in March, Dubai Maritime City is making final preparations to complete the first phase of its marina berth project, and showcase its facilities as the main supply, service and refit centre for leisure boats and yachts in the region.

“This year’s DIBS will be particularly interesting because of the increasing number of global boating aficionados drawn to the event, impressed by Dubai’s widespread waterfront developments and the increasing availability of maritime support facilities,” said Amer Ali, Chief Executive Officer of Dubai Maritime City.

“The maritime sector is now growing by more than 10%; a strong indication of the increasing confidence in the local market and Dubai‘s enormous potential in this industry. With more berths, better marine facilities, and more suppliers, we expect boat ownership to really take off in the near future, especially in the leisure boats and yachts categories,” Ali added.

Dubai has traditionally been a boating community with its proximity to the Arabian Gulf and the expansive Dubai creek, but despite the strong purchasing power of citizens and residents, ownership of boats and yachts has achieved less-than-expected growth in the past few years primarily because of insufficient berthing areas. To address this, Dubai Maritime City will plan extensive berth facilities that on completion will be able to accommodate a large percentage of the 30,000 – 50,000 boats predicted to be moored in Dubai within the next five years.

According to reports published in 2007, the boat ownership ratio is 1:45 in Sydney, and 1:12 in Norway; while exhibitors at DIBS 2007 announced that they expected the Gulf region to quickly overtake Europe in terms of per capita boat ownership.