Company plans on investing $100 million in developing the facility over the next five years.Dubai Maritime City (DMC), a world-class maritime cluster in the heart of Dubai, today announced an agreement with Gulf Craft to invest in a free hold plot located within the marine district of DMC, on an area of approximately 900,000 square feet. The agreement was signed by His Excellency Khamis Juma Buamim, Chairman of Dubai Maritime City, and His Excellency Mohammed Hussein Al Shaali, Chairman of Gulf Craft, the company said in its press release.
Gulf Craft plans on making a $100 million investment in developing this facility over the next five years. It will include a state-of-the-art shipyard to manufacture high-end luxury yachts as well as a service center incorporating cutting-edge, highly specialized technology for the yacht industry.
The UAE-based company, is one of the top 10 manufacturers of superyachts globally, completing and delivering more than 9000 vessels to date and winning a number of local and international awards, including the World Yacht Trophy for Shipyard of the Year 2014 and the Best Asian Yacht Builder at the Asian Boating Awards 2014.
Commenting on the announcement, Mr. Mohammed Hussein Al Shaali, Chairman of Gulf Craft said: “I would like to thank HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for his continuous support and attention to the marine manufacturing industry. This focus serves as our motivation to better our efforts every day. Gulf Craft reiterates its support to fly the UAE flag high with regard to further raising the reputation of the Emirati manufacturing industry on a global scale.”
He continued: “I would also like to extend my gratitude to HE Khamis Juma Buamim, Chairman of Dubai Maritime City, for his personal efforts and those of his team in making this agreement possible.”
He added: “As a company, a presence in Dubai Maritime City is a huge step towards further building on our vision to grow Gulf Craft’s global success with regard to building vessels that reflect the latest in innovative concepts, designs and technology. A prominent footprint and operations within the Emirate of Dubai places Gulf Craft in the heart of the regional and international market.”
HE Khamis Juma Buamim commended the agreement due to the future positive and beneficial results, saying: “We are delighted to sign the agreement with Gulf Craft, as we have a common interest in innovation and consistent improvements; Gulf Craft is a prestigious national company with a global reputation in innovation, quality and competitiveness. It is an honor for us to work together for the national yachting industry, which is characterized by the production of quality and specialized designs. We believe in the national product and we are delighted to enable Gulf Craft to grow and strengthen its position on the global map for the manufacturing and construction of yachts.”
Buamim stressed that Dubai Maritime City provides specialized services to yacht manufacturers and is looking forward to continued cooperation with leading companies in this market segment such as Gulf Craft.
Buamim concluded by stating: “With the massive expansion in marinas, mooring boats and yachts in the region, the demand for specialized services is increasing in this area, and positioning the region as a service destination for production operations, multifunctional services and quality.”
In this context, Gulf Craft has specialized for more than 30 years in manufacturing a wide diversity of vessels, ranging from fishing and family boats to sport cruises and luxury superyachts up to 155ft. Gulf Craft manufactures more than 400 vessels a year, and operates globally through a wide distribution network. Their distinctive superyachts are found in virtually every major harbor of the world. Gulf Craft has adopted a vision to be one of the top luxury yacht and boat manufacturers, through strengthening its reputation in providing operational excellence, offering a high degree of quality and innovation to customers and exceeding the expectations of its customers.
Dubai Maritime City, which is located on an area of over 2.27 million square meters, has been designed to promote the interests and lifestyle of the maritime community. Supported by highly developed and sophisticated infrastructure, as well as a suitable environment for the modern life balance between work and living conditions, Dubai Maritime City offers facilities which suit a multitude of purposes such as housing, offices, entertainment and retail. Additional benefits include a central location on the seashore of Jumeirah city, near to the heart of Dubai, as well as being in the center of regional and international business and career opportunities in the field of logistics and increasing network relations.