A growing yachting market in Dubai

The Dubai International Boat Show 2024 provided a taste of a region full of yachting potential.

Held from 28 February to 3 March, the 2024 edition of the Dubai International Boat Show cemented its position as the largest and most established yacht show in the Gulf region. Showcasing a wide variety of luxury yachts and supercars, this year’s event attracted a local and international clientele as well as shipyards from around the world. 

“Although still not very mature in the 40m-plus segment, the yachting market in Dubai has been continuously developing as more berths and quality maintenance and refit facilities become available.” 

“Dubai has witnessed a steady rise of wealthy individuals and demand in high-end real estate has boomed over recent years, which has translated into healthy growth in interest in yacht charter and sales,” reflects Adam Papadakis, Head of Sales at Moravia Yachting. “Although still not very mature in the 40m-plus segment, the yachting market in Dubai has been continuously developing as more berths and quality maintenance and refit facilities become available.” 

Moravia Yachting was delighted to be presenting the 38m (124’8″) INDIGO STAR I for sale during the show. Another notable yacht on display included the 50m motor yacht AFRA, which piqued particular interest thanks to its classic wooden exterior that echoes a traditional Arab dhow boat. 

INDIGO STAR I (1995/2023) – 38m (124’8ft) by Siar & Moschini – Available with Moravia Yachting for charter, from €88,000 a week, and for sale, €3,900,000.

Many exhibitors hailed the show a success, with Sanlorenzo and Gulf Craft reporting several sales of their yachts made during the event. This is a testament to the growing demand from ultra-high-net-worth individuals in the Middle East. 

“Dubai is poised to benefit from the overall growth in yacht traffic in the Red Sea as major coastal developments come to fruition and become a new superyacht hub between Europe, the Maldives and south-east Asia.”

Adam, however, believes that the show has far from reached its potential. “Dubai is poised to benefit from the overall growth in yacht traffic in the Red Sea as major coastal developments come to fruition and become a new superyacht hub between Europe, the Maldives and south-east Asia,” he adds. “The Dubai International Boat Show will continue to grow in line with this game-changing paradigm shift in yachting.” 

As the show concluded, a long-term partnership was announced between show organisers and host Dubai Harbour that guarantees state-of-the-art infrastructure and a prime location for the future, with ample room for the show to grow. In this context, momentum is already building for the 31st edition in February 2025. 

Via the established presence of the Hill Robinson Group in the Middle East, Moravia is well positioned to support its clients in the region and is committed to enhancing its presence there further. 

Previous news article

Next news article