Qatari yachting community witnesses exceptional growth

Dubai, UAE,  7th December 2016: Qatar’s yachting community has witnessed exceptional growth, one characterized by a genuine appreciation for the luxury cruising lifestyle, according to the country’s market leader for leisure yachts and boats, Gulf Craft.

Speaking on the sidelines of the Qatar International Boat Show, Gulf Craft’s Chief Executive, Erwin Bamps, attributed this emerging trend to growing private wealth, greater exposure to the possibilities of on-water living, and an increasing number of waterfront developments in the region that are offering yacht owners more opportunities to use their craft.

Majesty 70

“We have seen over the past few years that more Qataris are either choosing to upgrade their existing boats, or are immediately deciding to invest in larger yachts because of the luxurious, home-away-from-home experience these craft promise prospective owners,” said Bamps.

“With today’s design and engineering capability, they can enjoy that cherished aspect of their seafaring heritage while also enjoying the many benefits that modern technology has to offer. It is a perfect combination of the two worlds.”

By 2020, private wealth in Qatar will rise from USD $0.3 trillion to USD $0.4 trillion, according to the Boston Consulting Group’s report, Global Wealth 2016: Navigating the New Client Landscape.  The same report indicates that private wealth held by ultra-high-net-worth (UHNW) households – those with above USD $100 million –  in Qatar is expected to grow by an impressive 14.5 percent in the next five years.

Gulf Craft’s Majesty Yachts representative, Aurora Yachts, will be displaying the shipyard’s opulent Majesty 70 and famed Majesty 56 at the Qatar International Boat Show. At a respective 21 meters and 17 meters in overall length, both creations boast expansive indoor and outdoor lounging and dining areas, fully equipped galleys, main saloons with lavish interiors, and spacious en suites.

One of the world’s top ten superyacht shipyards, Gulf Craft accounts for approximately 50 percent of Qatar’s market for leisure yachts and boats, and has helped Qataris sail the world’s waters for more than two decades. The builder is distinguished for its capacity to cater to a diverse client base through its expanding portfolio of premium craft, ranging from its line of luxurious Majesty Yachts, and long-range Nomad Yachts, to its line of Oryx sport yachts and cruisers, and Silvercraft fishing boats and family cruisers.

Guests can see Gulf Craft’s exquisite creations by visiting the Aurora Yachts display at berth number B-21 at the Qatar International Boat Show, which takes place from 7-10 December at the Mourjan Marinas in Lusail City.