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Thu 29 Sep 2016 01:53 PM

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UAE's Gulf Craft says to enter world's megayacht market

Luxury boat builder announces plans to start manufacturing megayachts - yachts larger than 50 metres in length

UAE's Gulf Craft says to enter world's megayacht market

UAE-based Gulf Craft has announced plans to start manufacturing megayachts - yachts larger than 50 metres in length - marking the its entry into the exclusive league of global megayacht manufacturers.

The announcement was made at the Monaco Yacht Show, where Gulf Craft revealed the new concept designs for the 61-metre Majesty 200 and the 53-metre Majesty 175, both ready to be constructed upon order.

The Majesty 200 is set to be Gulf Craft's ambitious move into the world of megayachts, and will be built using the latest engineering technology, the builder said in a statement.

It added that the Majesty 175 will be produced using advanced composites, expanding the possibilities of using such material for the production of megayachts.

The news follows Gulf Craft’s European debut of its flagship superyacht, the Majesty 155, at the Cannes Yachting Festival.

The designs of both the Majesty 200 and Majesty 175 include retractable helipads, opulent interiors, beach clubs, and extensive lounging and entertainment areas.

“Gulf Craft has grown and evolved with its customers - we identified the milestones that lie ahead and set out to realise them,” said Mohammed Hussein Al Shaali, chairman of Gulf Craft.

“Our aim is to continue redefining superyacht production using advanced composites to a size once thought impossible, all the while creating bespoke cruising experiences for our customers. Our ceaseless determination has led to this very moment, one where research and development meets megayacht design.”

Erwin Bamps, Gulf Craft’s CEO, said the decision to venture into the world of megayachts comes as a natural progression for the company. 

“Gulf Craft’s spirit has always been one of great ambition,” said Bamps. “There were challenges to the size of yachts we can build, but we strived to overcome these limitations – in the last three years alone we successfully launched the Majesty 155, the Majesty 135, and the Majesty 122, and we have received multiple successive orders for each.”

He said rising private wealth combined with growing worldwide interest in the yachting lifestyle, and a strong desire to spend more time on water, is creating an emerging demand for products that can deliver the ultimate luxury cruising experiences in both engineering and design.

Founded in the Emirates in 1982, Gulf Craft builds yachts ranging from 27 feet to 155 feet in length.

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