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Staying ahead of the game requires fluidity and the ability to respond rapidly to the ever evolving needs of the yachting industry. With offices in Asia and the Middle East, Burgess is perfectly placed to assist clients in these regions. The Edge caught up with Jonathan Hind managing director Dubai and Jean-Marc Poullet chairman Asia to discuss their respective regions.
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Burgess opened its Dubai operation in the last quarter of 2016 following a formal invitation to introduce superyacht services of exceptional standard to the UAE and to help develop the maritime sector within the Middle East. Echoing the well- established Asia template, nine months on, Jonathan Hind discusses the region’s potential
for superyacht expansion.
— Globally, where does the GCC market stand in respect of percentages of buyers/yachts compared to the rest of the world?
The Middle East and more specifically the GCC is home
to 50% of the world’s 20 largest yachts. The 2013 Superyacht Builder’s Association (SYBAss) Economic Report, developed in cooperation with Boston Consulting Group, reveals that the Middle East has the highest propensity to buy a superyacht, at 48%. This means that nearly half of the UHNWIs in the Middle East are likely
to own or buy a superyacht. This rate is higher than anywhere else in the world.
— Are there any distinct industry differences compared with Europe /America?
GCC nationals are no strangers to buying boats with many keeping their yachts in Europe or between Europe, the Maldives and the UAE but with the ongoing expansion of the maritime sector in the region we will likely see
far more yachts visiting and staying in the UAE. This
was notable during the 2016/17 season with over 25 superyachts making the trip to the Gulf.
— What infrastructure is currently in place to accommodate superyachts and what plans exist
for the future within the Middle East?
Clearly the existing infrastructure in the region is sufficient to accommodate those superyachts that are based in or visiting the region, but what is really exciting now is the push toward the 2020 Dubai Expo and the very active development and expansion of Dubai’s yachting and maritime facilities. In the coming months and years Dubai and the UAE will be adding over 2,500 yacht berths, of which over 100 will be dedicated to superyachts. All this will be accompanied by substantial support facilities and on land infrastructure.
— Are there any particular regions where you expect the superyacht industry to boom?
Within the Middle East, Dubai is the epicentre of yachting activity with Abu Dhabi coming in a close second. With the planned development we will likely see uplift in maritime activity in our sector with more yachts using the area either as a home port or as a geographically logical base for periods of downtime or maintenance. Don’t forget that while long-term cruising options are limited in the immediate vicinity, it is only a four hour flight to the spectacular cruising grounds of the Maldives.
— What are your future predictions for the area?
We have reason to be confident in the future. Dubai will continue to build and develop facilities; it will add destinations and attractions both on and off the water. For as long as the region continues to grow and push the boundaries of development, we believe there is a very positive future for yachting here.
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