The firm has restructured and is planning to expand into new markets
UAE-based luxury yacht manufacturer Gulf Craft expects sales to rise 10% this year as a result of company restructure and expansion, according to its chairman Mohammad Al Shaali.
“We had a full restructuring of the company, including the products, due to the global economic and political instability in 2018. We have Oryx, Silvercraft, Majesty and Nomad in our brand portfolio. This year, we have restructured Nomad with new and innovative ideas and are displaying six Nomads SUV (sports utility vessel) collection at the show,” he told Gulf News.
Because the GCC’s marine environment is hot, salty and humid, the brand has started using lighter and stronger material such as carbon fibre in order to increase the sustainability and efficiency of its yachts, Al Shaali said.
At the Dubai International Boat Show this week, Gulf Craft launched six new, solar-powered Nomad yachts, the next generation of Oryx Sport Cruiser and a new line of Silvercraft fishing boats.
The company which is present in Europe, the Mediterranean, Australia, the US and South East Asia is also expanding to new markets. However, the chairman did not specify which markets they’re due to expand to.
Moreover, Al Shaali said the launch of the Dubai Harbour will solve Dubai’s shortage of berths. The development set for completion in 2020 is meant to be the MENA region’s largest marina with a capacity to host 160-metre yachts.
It will house three marinas including Harbour Marina, Bay Marina, and Palm View Marina which will boast 1,100 berths.