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A UAE company has launched the world’s largest superyacht made from composite materials.
Gulf Craft's flagship superyacht, Majesty 175, is 54 metres in length with a beam of 9.6 metres and was produced in the company's boatyard in Umm Al Quwain.
The sleek yacht, with its wood-panelled interior, was built using composite materials such as carbon fibre and vinyl ester. The shallow draft also enables close beach access.
It has a five-metre infinity pool, a lounge that can be converted to a sun deck, seven staterooms and accommodation for 10 crew members.
The yacht was launched by Sheikh Mansoor bin Mohammed, chairman of Dubai Sports Council, during its world premiere at Dubai Harbour.
The yacht, which was unveiled late last year, took four years to build and has completed a series of sea trials.
Superyachts are luxury vessels that are at least 24 metres long and are manned by a professional crew.
Also referred to as megayachts, the vessels have become popular among wealthy tourists during the pandemic.
Mohammed Al Shaali, chairman of Gulf Craft, said the launch indicated the appeal of the country as a major yachting hub.
“Gulf Craft invested nearly four years of effort in building this vessel, quicker than the normal timeframe, despite the challenges of the pandemic,” he said.
"With the regional premiere of the Majesty 175 at Dubai Harbour, we are reiterating the appeal of the country as a full-fledged yachting destination."
Mr Al Shaali said it demonstrated the company’s capability to manufacture world-class vessels.
The lightweight material will aid cruising in low-draft waters, allowing for quicker beach access, a key element sought by yacht enthusiasts.
Gulf Craft has built more than 10,000 yachts and boats, ranging in length from 9.5 to more than 50 metres, at its premises in the UAE and the Maldives.
Ahmed Al Khaja, chief executive officer of Dubai Festivals and Retail Establishment, said the launch of a superyacht during a pandemic showed the country’s ability to remain at the forefront of the world’s recommended safe travel destinations.
“The new state-of-the-art vessel highlights Dubai’s position as a leading hub for cruise tourism and the global maritime industry, as well as the UAE’s proven track record in the boat building sector based on innovation and excellence,” he said.
The yacht was docked at Dubai Harbour, which has not yet officially opened, although several privately owned yachts are moored off it.
When fully operational, the harbour will have 1,100 berths for yachts of up to 160 metres in length.
The vast marina, near Bluewaters Island and The Palm, Jumeirah, is managed by luxury marina group D-Marin Dubai.
It will have restaurants, hotels, residences, a crew club, independent fuel pumps and a helipad.
Dubai Harbour’s cruise liner terminals will have a combined floor area of almost 2.8 square kilometres.
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Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
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