The 30th edition of the Dubai International Boat Show (DIBS) which concluded on March 3rd, 2024, further solidified the emirate’s position as the Middle East, Africa, and Asia’s premier marine event. This year’s show offered a glimpse into the future of the yachting industry, showcasing groundbreaking innovations, super-luxe vessels, and a record-breaking number of deals.
A Celebration of Opulence
The co-located ‘Marine Luxury Lifestyle’ exhibition served as a testament to the show’s commitment to showcasing the pinnacle of maritime luxury. From regional destinations like Yas Marina and Saudi Arabia’s NEOM to renowned brands like Maui Jim sunglasses and Carter & White, visitors were treated to an immersive experience in nautical affluence. This year also saw a significant increase in the number of superyachts on display, with a combined value exceeding $680 million. These floating palaces boasted cutting-edge technology, opulent design features, and amenities that redefine the boundaries of yachting experiences.
The show witnessed a record number of deals and agreements, exceeding expectations and injecting significant momentum into the regional maritime industry. Leading manufacturers like Azimut, Princess Yachts, and Sunseeker reported significant sales, signifying a strong market outlook. Additionally, several partnerships and collaborations were announced, paving the way for future innovation and industry growth.
High-value boat sales were a major highlight, with leading names like Athaus Yachts recording notable successes. Their Lamborghini 63, built by Tecnomar Yachts, found a buyer in a UAE expatriate, marking the 19th hull sold. Local luxury yacht maker Gulf Craft reported multiple sales of its iconic vessels during the show, from its award-winning Majesty Yachts, renowned Nomad series, and sleek Silvercraft and SilverCAT brands.
Beyond individual sales, the show’s significance lies in its ability to connect major boat builders with high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWI). This fosters a thriving ecosystem that caters to the demands of a discerning clientele seeking luxury yachting experiences.
Exclusively listed by Bush & Noble was the 50-metre custom wooden yacht Afra described as the “largest wooden superyacht” in the world. Featuring a classic wooden exterior that conjures memories of a traditional Arab dhow boat, the yacht’s wooden frame is complemented by an impressive interior layout, adorned with Italian furnishings, which create a relaxed, inviting, and modern environment.
The 25.3-metre flybridge yacht Ferretti Yachts Riva Diva 82 was another star attraction. The yacht features a range of design advancements that enhance both aesthetics and functionality, including high gunwales with painted composite segments instead of traditional steel handrails, alongside fold-down bulwarks which increase the yacht’s six-metre beam by an additional 50 percent.
There are several high-profile yachts currently docked in Dubai, and among them are:
- MY Madame Gu (Andrei Skoch). Built in 2013 and notable for its blue hull.
- MY Anna (Dmitry Rybolovlev). With the length of 110 meters, she is one of the largest yachts built by Feadship.
- MY Serenity. Greek 70-footer epitomizing luxury and style.
- MY Quantum Blue (Sergey Galitskiy). A testament to luxury and engineering, built by Lurssen and launched in 2014.
- MY Nirvana (Vladimir Potanin). She is designed by Sam Sorgiovanni and showcases opulence with a capacity for 12 guests in 6 suites and a crew of 27.
- MY A was designed by a renown French architect Philippe Stack. It was earlier believed that MY A, owned by a Bermuda company Valla Yachts Ltd, was associated with Andrey Melnichenko. But in fact, Mr. Melnichenko has no connection with her neither in terms of ownership, nor in any other way.
- Majesty 120 – another mysterious yacht whose owner is not known. She is built by Gulf Craft and noted for its five-cabin layout.
The global boat-building market is expected to reach over $47 billion in 2027, at a CAGR of 7.5%, and the increasing demand for recreational boats in the Middle East and North Africa (MENA) region is a significant factor driving growth.
Sustainability Takes Centre Stage
Despite the focus on luxury, sustainability remained a prominent theme at DIBS 2024. Exhibitors like Sunreef Yachts showcased two fully electric models – a testament to the growing demand for environmentally conscious yachting. This year’s edition also saw a surge in interest in hybrid and solar-powered solutions, reflecting a shift towards cleaner and more sustainable boating practices. Discussions revolved around the development of eco-friendly technologies and practices that can minimize the environmental impact
Al Rubban Marine, IMG Boats, Invincible Boats, Ocean Boats, Gulf Craft and Victory Yachts are among the prominent exhibitors that showcased their latest creations at the five-day event, with a focus on incorporating sustainable solutions. As the global movement towards environmental sustainability continues to reshape the maritime sector and the future of yacht architecture, yacht owners and clients are increasingly interested in innovative technologies that can create a greener yacht.
Abeer Al Shaali, Deputy Managing Director of Gulf Craft, said: “At Gulf Craft, we understand that clients prioritise sustainability and durability, and we are committed to supporting the path towards a sustainable future. We are committed to making our yachts more efficient, lightweight, and practical, always with the user’s perspective in mind. Our latest yacht, the Majesty 111, showcases the latest trends in boat building, bringing the outside inside and creating a natural flow from exterior to interior. We believe that by incorporating nature and light into our designs, we are creating a truly unique and luxurious experience for our clients.”
Technological Advancements Drive Innovation
From Seakeeper’s live demonstrations of gyro stabilization technology to the plethora of cutting-edge navigation and communication systems, DIBS 2024 served as a platform for the latest advancements driving the future of boating. Visitors witnessed autonomous boat demonstrations, highlighting the potential of self-driving technology to revolutionize maritime experiences. Additionally, the show featured advancements in virtual reality, allowing potential buyers to experience dream yachts virtually before making a purchase.
Brands also reported that customisation and personalisation are high on the list of customer demands this year, as buyers are keen to reflect their personality through their purchases. Shahid Ahmed Jiwrak, Sales Manager, Ocean Boats, said: “We observed that visitors were very impressed by the options for customisation that Ocean Boats offer. This is very important because customers today want highly personalised products. These can range from walk-around cabins, forward or backwards-facing seats, centre consoles, a roof on the top of the steering wheel, and even bathrooms on board the vessel. As designers, we listen to all these preferences and incorporate them in the final boat design in the most innovative way possible, so that the customer gets a boat that suits their specific needs.”
Furthermore, the event served as a springboard for crucial industry discussions. Experts and thought leaders converged to address pressing issues and emerging trends, shaping the discourse on the future of the maritime sector. The show also witnessed the signing of landmark agreements and the formation of strategic partnerships. These collaborations aim to propel the industry forward by fostering innovation, knowledge sharing, and market expansion.
For instance, Dubai Maritime City Authority (DMCA) joined forces with the International Council of Marine Industry Associations (ICOMIA) to establish the region’s first-ever Superyacht Technical Excellence Centre. This initiative is expected to significantly enhance the region’s capabilities in catering to the specific needs of superyacht owners and operators.
DIBS 2024 witnessed a significant diversification in its audience, with a noticeable increase in European and Arab prospective buyers. This shift reflects the growing international appeal of the Dubai International Boat Show and its ability to attract yachting enthusiasts from across the globe. The show also saw a notable presence of younger generations, indicating a growing interest in yachting experiences among millennials and Gen Z.
Also published on Medium.
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