ABU DHABI // A visit to a yacht during Formula One weekend would be a privilege for most people, but for others, they would be right at home.
German expat Martin Mueller-Karera has lived on a three-bedroom, Dh1.5 million, 73ft boat for the past five years, after deciding life on land was just not for him.
The 52-year-old former Government employee said the move made perfect financial sense.
“It was a well-researched and well-thought-out decision, and took several months,” he said.
“With the fact that real estate prices and rents are so high, I felt living on the sea would be much better and [more] affordable.”
When he bought Menden, named after his hometown in Germany, he spent Dh500,000 renovating the craft, which he berths at the Abu Dhabi International Marine Sports Club.
The boat is not only his home, but also his source of income – he uses it to run charter trips around Abu Dhabi.
“The rent for the berth at the Marina is Dh600 per foot per year. In total, I am paying Dh50,000 per year including electricity, water and internet,” he said.
In comparison, the cost for a three-bedroom apartment on the capital’s Corniche can range between Dh180,00 and Dh300,000, according to the classifieds website Dubizzle.
To buy one of these apartments would cost between Dh3m and Dh4m.
“It is not just about the luxury of living on the boat, but also the fuel cost,” said Mr Mueller-Karera.
“Even if we somehow managed to buy a boat in Europe, the fuel cost is so high that we could not sustain it.
“Fuel cost in the UAE is another major factor that encouraged me to buy the boat here.”
He said there were many advantages to life at sea.
“My friends, especially their kids, love to visit my home. [Recently] I hosted more than 35 guests on my boat and we went to Lulu Island for swimming, barbecuing and other activities,” he said.
This weekend he plans to visit Yas Island to enjoy the Formula One racing, which starts Friday with the practice sessions.
“We will be there during the F1,” he said. “We have rented the boat out to a corporate company for three days.
“At Yas, the berth rent would be expensive. Just for the F1 weekend they asked about Dh35,000 for a boat of my size. But my partner has a berth there, so we will be using that.”
John Bush, from Bush & Noble, a yacht brokerage company in Dubai, reported an increase this year in requests about boat living.
“These are mainly from Abu Dhabi and this is probably driven by high rents, combined with more availability in berthing at an affordable price.
“Also, the new marina facilities in Abu Dhabi are world-class and offer a great alternative for waterfront living,” he said.
“Most clients express how much nicer it is to go home to a boat in a marina rather than an apartment in town, for instance.
“Just being on a boat is very peaceful and relaxing; you tend to spend more time enjoying the outside space.”
Owning a boat is not difficult in the UAE, according to those in the know.
According to the boat management company Abu Dhabi Boats, owners need to register with the Coast Guard, with their sale contract, a valid passport, visa and other legal documents.
“The Mulkiya [registration card] is issued on a yearly basis that can be renewed every year,” said a maintenance engineer at the company.
akhaishgi@thenational.ae
