A "barometer" for the luxury yachting sector in the UAE is pointing to fairer weather for the industry, say organisers of the Dubai International Boat Show.
The event this year has attracted more than 750 exhibitors, about 20 per cent up on last year.
Participants from Europe said they were focusing increasingly on new markets such as the UAE, with the yachting industry in their home markets "saturated" and still depressed from the global economic crisis.
The show, described as a barometer for the sector, opens next Tuesday for five days and is expected to attract 23,000 visitors.
The "industry has experienced formidable challenges in the past years," said Helal Almarri, the chief executive of Dubai World Trade Centre.
Mr Almarri said with exhibitors from 42 countries and more than 425 boats this year, from small vessels to multimillion-dollar superyachts, plus luxury cars, the event has grown significantly since last year. The show will feature 11 global launches, organisers said.
Analysts say boat sales in Dubai fell 75 per cent during the economic crisis, as credit conditions and expenditure on corporate entertainment dried up.
"Our [yacht] exports traditionally went to Europe and northern America, but [in the past] couple of years we shifted to new opportunities, new promising zones, especially the GCC and the Emirates," said Francois Sporrer, the trade commissioner at the French consulate in Dubai.
"Basically, to have a strong yachting market, you need either sea, or sun, or high purchasing power, or an active tourism industry.
"Here in the Emirates there is the perfect combination of all these factors, with the many projects of new marinas, for example on Saadiyat and Yas Island, with the ongoing trend for sea-based leisure activities."
Mr Sporrer said events such as the Louis Vuitton Trophy yacht race in Dubai last year helped to boost the industry in the emirate.
A report by Booz & Company said developers in the Mena region would have to make capital investments of between US$200 billion (Dh734.62bn) and $300bn in the next 15 years to meet demand for marina berths.
Saeed Hareb, the managing director of the Dubai International Marine Club, said 500 berths were this year due to open as part of delayed marina projects on the Palm Jumeirah.
Manufacturers have said prices of boats had come down in the past couple of years, which could help attract buyers.
Mr Sporrer said the number of French companies participating in the boat show had more than doubled compared with last year to 19 businesses.
Companies could also be aiming to find partners to build vessels in Dubai, he added.
rbundhun@thenational.ae
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
SCORES
Multiply Titans 81-2 in 12.1 overs
(Tony de Zorzi, 34)
bt Auckland Aces 80 all out in 16 overs
(Shawn von Borg 4-15, Alfred Mothoa 2-11, Tshepo Moreki 2-16).
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In numbers: PKK’s money network in Europe
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Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
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Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
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Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
'Cheb%20Khaled'
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SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Where to submit a sample
Volunteers of all ages can submit DNA samples at centres across Abu Dhabi, including: Abu Dhabi National Exhibition Centre (Adnec), Biogenix Labs in Masdar City, NMC Royal Hospital in Khalifa City, NMC Royal Medical Centre, Abu Dhabi, NMC Royal Women's Hospital, Bareen International Hospital, Al Towayya in Al Ain, NMC Specialty Hospital, Al Ain
