GULF CRAFT ACCELERATES REGIONAL EXPANSION WITH MAJOR SHOWCASES AND SALES MOMENTUM IN Q4

Gulf Craft, a UAE-based pioneer in luxury yachts and superyachts manufacturing, showcased a remarkable performance in the region during the final financial quarter of 2024, generating negotiations worth over $100 million. Building on a standout performance in the second half of 2024, coupled with major events and visionary leadership, Gulf Craft has confirmed its position as a key player in the global luxury yachting market throughout the year.

Gulf Craft’s strong performance in 2024 has been marked by a series of notable achievements and milestones across key regional and international events. Building on an impressive lineup of showcases, Gulf Craft capped off a successful 2024 European tour with standout appearances at the Cannes and Monaco Yacht Shows – solidifying its reputation as a leader in luxury yachting innovation. The unveiling of the Majesty 100 Terrace at the Cannes Yachting Festival set new benchmarks for luxury yacht design, reinforcing Gulf Craft’s commitment to pioneering excellence in the yachting industry.

In October, Gulf Craft further expanded its reach by exporting three Majesty Yachts to the Maldives, emphasizing its growing expertise in providing seamless sea transfers and enhancing the marine lifestyle across the region.

The Qatar Boat Show (QBS) emerged as a standout event in the final quarter of 2024, marking a pivotal moment for Gulf Craft as it captured significant attention and strengthened regional relationships. The company’s impressive fleet, including the Majesty 120, Majesty 100, Majesty 72, Majesty 60, along with the Nomad 95, Nomad 75, Nomad 70, and Nomad 65, drew considerable interest. The SilverCAT 46WA, 40CC, and 40LUX catamarans further demonstrated Gulf Craft’s expertise in delivering versatile and dependable vessels suited to Qatar’s growing demand for luxury and adventure on the water.

At QBS, Gulf Craft also announced a major new Service and Refit Center in Ajman, reinforcing its commitment to enhancing the ownership experience and providing world-class support for yacht owners across the GCC. Set to open by the end of 2024, the 108,000 sq ft facility will feature specialized workshops offering carpentry, upholstery, painting, fabrication, and mechanical services, supported by an on-site spare parts shop and vessel registration services in collaboration with the Dubai Maritime Authority. “This facility ensures exceptional client support and the growth of a premier yachting community in the region.” said Mr. Mohammed Alshaali, Chairman of Gulf Craft.

In November, Gulf Craft’s ‘Crafting Legacies’ event, held at the iconic Mina Rashid Marina in Dubai, paid homage to the UAE’s rich maritime heritage. The event traced Gulf Craft’s transformation from a local boat manufacturer to a global leader in luxury yacht and leisure boat production, highlighting what ‘Made in the Emirates’ truly represents. Emirati Creative Director Rowdha Alsayegh of Rowdha SAY guided the event, emphasizing Gulf Craft’s deep-rooted connection to the sea and its ongoing mission to inspire future generations of maritime excellence. As Gulf Craft Chairman Mohammed Alshaali stated during the event, “Our commitment to preserving the UAE’s maritime legacy and fostering innovation remains unwavering as we continue to lead the global yachting industry.”

Following Gulf Craft’s momentum from these achievements, the company participated in key regional events, including the Formula 1 Etihad Airways Abu Dhabi Grand Prix, reaffirming its longstanding presence in the motorsport and luxury lifestyle sectors. Gulf Craft also took part in the Middle East & North Africa Business Aviation Association (MEBAA), showcasing scale models of the Majesty 100 Terrace and flagship Majesty 160, demonstrating its leadership in luxury, innovation, and transport excellence.

In addition, Gulf Craft marked a significant milestone by delivering a range of highly anticipated vessels to their new owners in the last quarter. These included the Majesty 120, Majesty 111, Majesty 100, Majesty 72, Majesty 60, two Majesty 62s, Nomad 65, and two Oryx 379s. The successful handover of these vessels reflects the combined efforts, teamwork, and unwavering commitment of the Gulf Craft team to uphold the highest standards of craftsmanship and client satisfaction. Additionally, the company delivered a variety of leisure boats, catamarans, and passenger utility vessels from its extensive portfolio.

As the year drew to a close, Gulf Craft Chairman Mohammed Alshaali was recognised with the prestigious “Lifetime Achievement” award at the International Boat Industry (IBI) Awards. This accolade reflects his invaluable contributions to the growth and success of the global marine industry, particularly within the GCC and Middle East regions.

The year concluded on a high note, with Gulf Craft’s achievements firmly cementing its position as a leader in innovation, growth, and excellence.