UAE looking at 'marine leisure potential'
Dubai, October 27, 2010
Fuelled by the stable tourism industry and local population’s attraction to luxury boats and yachts, the UAE is looking at marine leisure and real estate as an industry with tremendous potential, according to an expert.
An average of 1,500 luxury boats are sold or rented in the UAE every year, underlining the Emirates’ leading position in the high-end marine crafts market, said Biju Jayaraaj, CEO of Artaaj, the organiser of ‘Big Boys Toys’ show, a major lifestyle exhibition.
The event brings together the latest technologies and the biggest brands along with high impact entertainment features from February 2 to 5.
‘Big Boys Toys’ is set to attract leading European and American companies during its four-day run at the Abu Dhabi National Exhibition Center. It aims to provide prime networking opportunities for luxury boat companies, waterside developers and interior design companies, said Jayaraaj.
According to him, the massive popularity of waterfront properties among both global and regional investors has further catapulted the UAE marine sector’s repute as the largest in the GCC.
Further driving the growth of the domestic marine sector are major investments being undertaken by the local government of Abu Dhabi, which has allocated a sizeable budget for the construction of 45 marinas – the latest of which is located within the iconic ‘Yas Island’ development, he noted.
'The massive investments towards marina facilities is part of the capital’s aims to harbour as many as 10,000 recreational marine crafts and is part of its 2030 strategic growth plan.'
‘Big Boys Toys,’ is expected to attract hundreds of HNWI and buyers from all over the globe as it makes its way to the UAE for the second time.
With recent estimates indicating boat ownership for one out of every 350 people in the UAE, the show is sure to be a success, he added.
'This strong interest from global customers, investors and the local governments themselves is a positive indicator for companies involved in building luxury boats and waterfront projects,' Jayaraaj stated.
'Our goal during ‘Big Boys Toys’ is to help businesses targeting this highly lucrative market, by giving them tremendous exposure among high-potential clientele in the region,' he added.
The event is set to host a display of some of the world’s most exciting marine related goods including Liquid Glass Boat, Al Marakeb Boat Manufacturing, Spire Boat, and Abra Marine.
The Al Mahara Diving Centre, a premier 5 star PADI Instructor Resort Development Centre in Abu Dhabi will promote its services at the event, which include PADI scuba diving courses from beginner to instructor for individuals, groups, kids, corporate and ladies, said Jayaraaj.
According to him, the UAE’s rising reputation in the global yachting circuit as a leading hub for leisure luxury boats and waterfront properties poses great prospects for the domestic economy as well as for global investors involved in this emerging market.
‘Big Boys Toys’ aims to open up doors for new business prospects, which will allow them to penetrate or strengthen their presence in the UAE marine sector,” he added.
In addition, ‘Big Boys Toys’ will offer nine other zones within the exhibition area, including Drive, Ride, Off-Road, Aviation, Digital, Lifestyle, Fitness, Fashion and Adventure, which will house over 100 exhibitors across 46 categories showcasing their products to an target audience of over 60,000 visitors.-TradeArabia News Service