Abu Dhabi is in a position to become a prime destination for large yachts travelling from the Mediterranean as they seek alternatives to the Caribbean, the organiser of the Monaco and Abu Dhabi yacht shows says.
As the Middle East and South East Asia develop their marine leisure industries, sailors are more likely to undertake voyages east to new playgrounds, said Andy Treadwell, the managing director of Informa Yacht Group.
"Abu Dhabi is a perfect mid-way point for yachts travelling from the Mediterranean, where something like 70 per cent of the world's current fleet of active superyachts are based, to the new cruising grounds of South East Asia, which are developing in terms of infrastructure and accessibility … because everybody understands the economic benefits they bring."
He said when combined with the cruising destinations in Oman, the Gulf would be an attractive destination for large yachts, and added that the Caribbean had become overcrowded.
_______________________________
Editor's Pick - Egypt looks towards stimulus package
_______________________________
Abu Dhabi is investing heavily in its marine infrastructure as part of its broader tourism development plans and will eventually have 45 marinas of various sizes. Marinas play a particularly important part in the multibillion-dollar Yas Island and Saadiyat Island developments. Informa said it was working alongside the Abu Dhabi Tourism Authority to establish the emirate as the hub for the large yacht market in the Middle East.
"One of the deterrents was always the distance because there was no first-class stopover for refit and repair if anything went wrong and that is precisely what Abu Dhabi is blessed with," said Mr Treadwell.
There are factors holding back growth of the industry in the region, however, industry experts said. These include the lack of clarity over where boats can sail, and bureaucratic procedures that limit the length of stay of foreign vessels to two weeks, and the red tape involved in moving between ports in the UAE.
Some have pointed out that the threat of piracy is also a concern. Last year, a 60-metre German-built yacht, Linda Lou, narrowly avoided an attack by suspected Somali pirates as it passed through the Gulf of Aden on its way to the Abu Dhabi Yacht Show.
Other destinations in the region are also trying to attract more marine tourists.
"The UAE, Egypt, Bahrain, and Qatar have been spending billions of dollars to vie for the title of the 'yacht capital' of the region," said Alessandro Borgogna, a principal at Booz & Company, in a recent report.
He said the demand for marina moorings in the region was expected to more than double by 2015 to about 82,000 berths.
________________________________
Follow our Business tweets - twitter.com/biznationaluae
________________________________
"Further, if Mena governments take the right steps to develop the sector, this number could approximately quadruple by 2025. In order to meet this frenzied growth in marina demand, developers will have to make capital investments of US$200 billion (Dh734.58bn) to $300bn in the next 15 years," according to the report.
Mr Treadwell said Abu Dhabi was well-positioned to capture the superyacht market.
"Dubai is very advanced in terms of the marine leisure industry, but it's primarily focused on small boats. Abu Dhabi is building facilities for the larger end of the market."
The annual Abu Dhabi Yacht Show focuses on superyachts, with the vessels typically ranging in price from $5 million to $100m. These prices, however, are down substantially from their pre-crisis peaks, as the industry was hit hard by the global economic downturn.
"Because of the downturn in the market, the price of boats in America and Europe had just skyrocketed and the market there has had a correction," said Mr Treadwell. "The prices were going sky high because there was a finite capacity worldwide to build enough boats to cope with all the orders that all these exploding economies were demanding."
The capital's yacht show at Yas Marina next month will run alongside the GT1 motor racing event, which features luxury brands such as Aston Martin, Lamborghini and Maserati.
"It brings in an audience that fits perfectly with the demographic that we want at the Abu Dhabi Yacht Show," Mr Treadwell said.
rbundhun@thenational.ae
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
BLACKBERRY
%3Cp%3EDirector%3A%20Matt%20Johnson%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Jay%20Baruchel%2C%20Glenn%20Howerton%2C%20Matt%20Johnson%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Teams in the EHL
White Bears, Al Ain Theebs, Dubai Mighty Camels, Abu Dhabi Storms, Abu Dhabi Scorpions and Vipers
Ashes 2019 schedule
August 1-5: First Test, Edgbaston
August 14-18: Second Test, Lord's
August 22-26: Third Test, Headingley
September 4-8: Fourth Test, Old Trafford
September 12-16: Fifth Test, Oval
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
La Mer lowdown
La Mer beach is open from 10am until midnight, daily, and is located in Jumeirah 1, well after Kite Beach. Some restaurants, like Cupagahwa, are open from 8am for breakfast; most others start at noon. At the time of writing, we noticed that signs for Vicolo, an Italian eatery, and Kaftan, a Turkish restaurant, indicated that these two restaurants will be open soon, most likely this month. Parking is available, as well as a Dh100 all-day valet option or a Dh50 valet service if you’re just stopping by for a few hours.
The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3Etwo%20permanent%20magnet%20synchronous%20motors%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Etwo-speed%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E625hp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E850Nm%3Cbr%3E%3Cstrong%3ERange%3A%20%3C%2Fstrong%3E456km%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh737%2C480%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
Types of fraud
Phishing: Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
Smishing: The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
Vishing: The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
SIM swap: Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
Identity theft: Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
Prize scams: Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
* Nada El Sawy
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Carzaty%2C%20now%20Kavak%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3ECarzaty%20launched%20in%202018%2C%20Kavak%20in%20the%20GCC%20launched%20in%202022%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20140%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Automotive%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3ECarzaty%20raised%20%246m%20in%20equity%20and%20%244m%20in%20debt%3B%20Kavak%20plans%20%24130m%20investment%20in%20the%20GCC%3C%2Fp%3E%0A
The language of diplomacy in 1853
Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)
We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.
Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale
Pad Man
Dir: R Balki
Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte
Three-and-a-half stars
The biog
Siblings: five brothers and one sister
Education: Bachelors in Political Science at the University of Minnesota
Interests: Swimming, tennis and the gym
Favourite place: UAE
Favourite packet food on the trip: pasta primavera
What he did to pass the time during the trip: listen to audio books
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
