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Erwin BampsExecutive manager Gulf Craft |
Numerous waterfront developments and mega projects such as Dubai marina, The Palms and Dubai festival City have triggered record growth in the boat market. An estimated 30,000 new berths for boats will be built over the next five years in the UAE. In Dubai alone, mega projects will feature large marinas, capable of hosting thousands of boats.
According to Gulf Craft’s Executive manager Erwin Bamps, “Boating has become a part of the industry now. Its not just the fishing industry. It is entertainment at the corporate level, organized by hotels resorts and charter companies. Nowadays more and more UAE residents are becoming inclined to take up boating for a hobby or leisure. With the Dubai brand gaining global acceptance, people who come here to live and buy a house in the Palm or an apartment in Dubai Marina are ready to spend their money here. These are the people who are more inclined to own a boat”.
Gulf Craft Inc the Ajman based manufacturer of boats and yachts, has been reporting 30 % growth annually during the last five years and is expected to announce Dh300 million in revenue growth for the year 2006.The company was set up in 1982 to build small vessels and boats, over the years boats that the company built became bigger and more sophisticated as customers were looking for more and more luxury vessels. Gulf Craft now exports more than 70% of its output to the GCC counties and the wider Middle East and North Africa( Mena region), Australia, US, Europe and India.
