8 March 2007

MARINA DEVELOPMENTS FUEL INTERNATIONAL DEMAND FOR EGYPTIAN MARINE LEISURE MARKET


EGYPTIAN BOAT BUILDERS AND DISTRIBUTORS HEAD FOR DUBAI INTERNATIONAL BOAT SHOW AS REGIONAL DEMAND SOARS

Cairo, Egypt

The impressive growth of Red Sea and Mediterranean marina developments is fuelling the biggest demand for leisure boats Egypt has ever seen, with national and international customers looking to invest in the booming market.

Major developments such as the Sahl Hasheesh Marina and Port Ghalib Marina in the Red Sea, as well as the 480-berth Porto Marina in El Alamein, have seen a significant growth in orders for leisure marine watercraft for Egypt's boat builders and distributors.

As the market continues its impressive growth, Egypt-based manufacturers are producing greater numbers of high performance and luxury boats to cater for the demand, as well exhibiting at important industry events like the Dubai International Boat Show (DIBS), the region's largest boat show.



"The marine industry in Egypt is achieving record-growth year-on-year and we are delighted to welcome several of these key manufacturers and dealers to the Dubai International Boat Show, an event which has been pivotal in the growth of the Middle East leisure marine market," said Helal Saeed Al Marri, Director General, Dubai World Trade Centre organiser of DIBS 2007.

"Because of the huge variety of state-of-the-art yachts and equipment on display, DIBS also continues to draw many visitors and prospective buyers from Egypt and North Africa, and we expect these numbers to grow considerably as more marinas and waterfront developments are built in Egypt."

One of the leading Egyptian exhibitors at this year's Dubai International Boat Show is Alexandria-based DeBirs Yachts, which specializes in the construction of 25 - 30 metre custom fibreglass luxury motor yachts, and will be displaying the magnificent 25 metre long "HH Hamad Abu Dhabi".

Established at the Dutch Yard in the Amria Free Zone in 1998, DeBirs has been a key player in the growth of the Egypt and North African leisure marine market with superyachts in the 82, 85, and 86 Raised Pilot House (RPH) and 100 Sports Yacht range attracting buyers from across the world.

"DeBirs has enjoyed great success in recent years with sales increasing dramatically thanks to the growth in marinas and exposure from global events like the Dubai International Boat Show. The Boat Show also enables DeBirs to enhance our close relationship with new and established clients, which has been one of our key successes throughout the last decade," said Mr. Tarek M. Ragheb, Chairman of DeBirs Yachts.

"We are looking forward to what will be very exciting Dubai International Boat Show for DeBirs as we debut the HH Hamad Abu Dhabi, with its four luxuriously-appointed guest cabins and sumptuous forward and aft saloons. This superyacht, which is part of our 82 RPH range, can travel at speeds of up to 23 knots giving it a range of just under 900 nautical miles."

Another of the companies enjoying huge demand on its luxury yachts is Sharma Marine Industries, one of Egypt's largest privately owned and managed manufacturers of fibre glass motor yachts, which recently launched its new 30 metre long luxury Super Sports yacht.



"Egypt continues to establish itself as one of the key global centres for leisure marine sports and activities, and as a result national and international residents want to experience it for themselves. This demand has had a massive impact on the local marine market with a continuous growth in new orders," said Mr. Amr Sedik, marketing manager, Sharma.

Furthermore because of this increase in marina space on Egypt's world-famous coastline, many owners are choosing to permanently moor their boats in Egypt rather than elsewhere in the Mediterranean, as they would have traditionally done.

"Because of its ideal geographical location, in addition to the new state-of-the-art marinas, international luxury boat owners are mooring as well as buying their boats in Egypt. In order to build on this, Shama exhibits across the world at the Cannes, Monaco and Genoa Boat Shows, but by far the most important for Middle Eastern buyers is the Dubai International Boat Show," continued Amr Sedik.

"DIBS has a well established reputation for attracting buyers from across the region because of the impressive range of watercraft on display. It also allows us to meet new local companies who could represent Shama Yachts."

Many of the international investors who are purchasing watercraft in Egypt come from a number of countries such as UK, France, Germany and the USA, as well as new markets like Russia and India.

"As the new waterfront developments reach completion, Egypt will further strengthen its position as one of the most desirable boating locations in the world. In order to do this we must exhibit at the Dubai International Boat Show because it enables us to reach so many new customers from around the world," concluded Tarek M. Ragheb.

The Dubai International Boat Show will take place from 13 – 17 March 2007 at the Dubai International Marine Club, Mina Seyahi, and is expected to generate even more multi-million dollar business orders and deals for the booming Middle East leisure marine industry.