Leisure Marine ME’s Managing Director is passionate about his company’s direction.
Welcome onboard. What have you been doing?
I arrived at the end of the season really. But this has given us the scope to start planning our strategies and business plans coming into the new season; building and developing a strong team. We have a good flow of Princess yachts arriving from the end of August onwards, building up so we will have a minimum of six yachts on display at the Dubai International Boat Show in March, as well as our Larsens.
What got you involved with Leisure Marine ME?
I have grown up around the boating industry; as a consumer and then a passionate boater. I have always fantasised about being in the yachting business, but was realistic about not letting my emotions rule my judgement. If you jump into a business without thinking clearly, your passion can very quickly become your nightmare. Then this opportunity arose; to be involved with such a strong portfolio of products and it all became possible.
Are three brands too many for one company?
If you jump into a business without thinking clearly, your passion can very quickly become your nightmare.
We are not brand collectors; the idea is that all of our brands provide a different product. Larsen ranges from 18 to 37ft; Princess from 42 to 95ft and then Ned Ship takes on any custom composite yacht work to lengths way beyond that. In fact, we have had a great deal of interest in our Ned Ship brand, and currently have a 35-metre yacht in build for Middle East client. The owner plans to use the yacht both here and abroad, and so chose a displacement yacht with an elegant and traditional motoryacht style, which will be launched toward the end of next year.
We don’t see many UK brands on the waters here…
True, we don’t see as many Princesses as we would like, but that will change as we bring more models in. Even so, Princess has retained a very strong name in the marketplace. Princess UK has also been very supportive of us here. Not only did a team from the yard come out to train our technical staff, but they also went on a tour of the Gulf to visit existing Princess owners and captains to ensure they were happy with their yachts, and to see if there were any problems to resolve. Everyone knows this market has tremendous potential, but it is not sufficient for a dealer alone to be working at it; they need to have support and commitment from their brands.
What are your challenges for the coming season?
Predominantly the same challenge that is on everyone’s mind – the availability of berths. It isn’t a wall, as boats are changing hands, clients are buying. But it is certainly an obstacle.
Where is your target market?
While Dubai is our current focus market, holding the GCC and Jordan territories, there are many more growth areas. We have set up a Leisure Marine office in Kuwait, and have also appointed sub-dealers in Jordan and Qatar – the projects going on there will certainly fuel demand.
What do you think will grow the industry?
People need places to go, destinations, for the industry to properly take off. But it is not just one-way traffic. In the future, hotels and resorts will need that extra prestige and custom of having large yachts mooring up to use their facilities – as they do in destinations all around the world. Being able to go somewhere gives a reason for having a boat.
Where do you see the growth market in terms of yacht size?
Due to the type of environment, you really need to be looking at a 14 metre yacht or over if you want to be able to use it all the year round – as in, have ample interior spaces that can be air conditioned. A yacht of this size can also be quite cheaply run, as there is no specific need for a captain or crew. Yachts around this size is what we see as the core market. The pushing of larger yachts again depends on adequate destinations and facilities for them. Why have a yacht here as opposed to the Mediterranean? But there is a gradual move for more large yachts to be based here during our high season – the owner of our 35 metre Ned Ship plans to do just that, spending half the year here and half in the Med.
Any industry hindrances?
Finance for larger yachts is certainly an issue. For smaller boats there are boat loan schemes, but for larger yachts there are no finance packages comparable to the US or Europe. I believe it is a matter of collateral, in that the bank cannot legally take the title of the yacht if there is a default in payment. Maybe it is an issue of law, however, the fact is that for larger, more expensive yachts you have to provide an alternative security, other than the yacht itself, which can often put people off the process. I’m sure that could be streamlined in line with international processes.
How is it having offices away from the water’s edge?
There is an increasing amount of first timers coming to boating, and gradually word is getting round that if it’s boats you’re after, then go to Knotika Mall.
Tel:+971 4 338 8604
www.leisuremarine-me.com.
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