By Staff Writer
CEO optimistic about yachting business in UAE
Leading yacht manufacturer Gulf Craft is in the process of adding two more shipyards in the UAE, according to its CEO Erwin Bamps.
Currently, the company has four shipyards across the country.
“With 1,700 people today and four shipyards, I can tell you we’re adding two more yards at this moment. And that’s the best proof in the pudding to show that we’re actually investing,” he said whilst showcasing the firm’s latest creations at the recent Dubai International Boat Show (DIBS).
Bamps added that despite the firm’s revenues growing by just 5% in 2015, he is confident projects like the Dubai Canal will bring opportunities to the yachting business in the UAE.
“The oil price has come down and affected buying power here and customer confidence. On the other hand, the boat sales in the region were affected by the lack of marinas, and now there are new marinas coming up. There’s the Dubai Canal that’s coming up in 2017 and we believe it’s a factor that will grow the business,” he said.
Gulf Craft revealed three new global launches at the DIBS, including two super yachts from its Majesty Yachts brand and a long-range yacht from its Nomad series. In total, it had over $51.7 (AED 190 million) worth of yachts on display at the boat show.