Riding the wave – The heat is on

Two experts in the region, from Camper & Nicholsons and Heesen, explain why the Middle East and the Gulf are becoming a global superyachting destination. The Middle East is emerging as a global hotspot for the luxury yachting market, spurred by unparalleled investments in high-end infrastructure and a growing population of high-net-worth individuals. This dynamic region, with its blend of cultural opulence and cutting-edge innovation, has captured the attention of leading yacht brokerage firms, prompting a wave of expansions into the Gulf Cooperation Council (GCC) states.

In this issue of Heesen Magazine, we explore why prominent players like Camper & Nicholsons and Heesen Yachts are anchoring their operations in this promising market. Behzad Saberi, senior sales advisor at C&N, and Hisham Abushakra, Heesen’s agent for the Middle East, share their insights into the region’s extraordinary transformation. They shed light on how destinations such as Dubai, Qatar, Saudi Arabia, and Oman are becoming thriving superyacht hubs.

With state-of-the-art marinas, waterfronts, and luxury communities springing up across the GCC, the Middle East is positioning itself as a premier destination for both yacht owners and global investors. The strategic foresight of industry leaders, combined with the region’s rapid development, underscores why the Gulf is charting an ambitious course as a key player in the global yachting industry.

Perspectives on the Middle East market
The Middle East has become a vibrant hub for the global yachting industry, marked by extraordinary growth in infrastructure, activity, and interest from high-net-worth individuals.

The Gulf countries, particularly the UAE, Saudi Arabia, and Qatar, have embraced this growth with impressive innovation. Saudi Arabia and Qatar are also investing heavily in maritime infrastructure, creating stunning cruising grounds and world-class facilities like Sindalah Island by NEOM, Porto Arabia at The Pearl, and Jeddah Yacht Club.

Camper & Nicholsons has been collaborating closely with authorities and NEOM for over two years, earning the distinction of being one of the few registered vendors authorized to operate in the region. Our efforts have extended beyond supporting the development phase and promoting the destination to yacht owners and charter clients. Drawing on over 240 years of expertise, we have actively contributed to establishing the Red Sea as an emerging yachting destination. These developments have not only enhanced the region’s appeal to Owners and charter clients but have also established it as an unmissable destination in the global yachting landscape.

By Behzad Saberi at Camper & Nicholsons [photo]

At Camper & Nicholsons, we are uniquely positioned to support this evolution. From our office in Dubai, we offer a complete range of services tailored to the needs of the region’s most discerning clients. Throughout the Middle East, Camper & Nicholsons is dedicated to supporting yacht owners in evaluating and selling their vessels according to international standards. Unlike traditional, localised brokerage models, the company leverages a global network to secure swift, high-value transactions. Camper & Nicholsons is uniquely equipped to cater to the needs of our esteemed clientele with an efficiency and sophistication unparalleled in the region’s history. Our exceptional positioning and expertise, combined with the region’s rapid pace of development, empower us to handle even the most intricate requests at a level that was previously unattainable.

The charter market in the Middle East is growing exponentially, driven by the region’s appeal as a luxury destination. High-profile events, such as the Abu Dhabi Formula 1 Grand Prix, have highlighted the demand for superyacht charters, attracting clients from all over the world. Governments across the Gulf are playing a pivotal role in this growth. In December 2024, for example, we saw the Saudi Red Sea Authority issue their first yacht chartering licenses in Saudi Arabia, while maritime authorities in the UAE, such as the Dubai Maritime Authority, have implemented digital systems for yacht registration, compliance, and berthing, expediting traditionally paper-heavy processes. This progress, coupled with the region’s growing population of ultra-high-net-worth individuals, positions the Middle East as a premier destination for superyacht charter.

Camper & Nicholsons is actively expanding its yacht management services in the region, which is already home to some of the world’s largest superyachts, many owned by prominent royal families. By leveraging its global expertise and collaborative cross-border approach, the company ensures that yacht owners benefit from unparalleled management services tailored to their needs, reinforcing Camper & Nicholsons’ position as a trusted partner in the region.

For me, the most rewarding aspect of operating in this region has been witnessing its transformation into a true yachting powerhouse. The Red Sea is well on its way to becoming an integral part of the charter calendar, nestled between Summer in the Mediterranean and Winter in the Caribbean. The Middle East isn’t merely keeping pace with the world’s leading yachting hubs; it’s setting new standards.

Through Camper & Nicholsons, I’m proud to help shape this journey, offering expertise and bespoke solutions that meet and exceed the expectations of our clients.

Heesen in the Middle East
We have long been optimistic about the region’s growing yachting market, driven by the rapid development of luxury infrastructure across the GCC. The UAE, Qatar, Saudi Arabia, Oman, and Egypt are emerging hubs for superyachts, thanks to their commitment to building state-of-the-art marinas and waterfronts.

The Middle East is undergoing a remarkable transformation with high-end developments. New world-class marinas in places like Dubai, Neom in Saudi Arabia, and along Oman’s pristine coastlines are creating significant opportunities in the superyacht market. These developments are strategically positioned to cater to the demands of high-net-worth individuals who are increasingly drawn to the region.

Dubai is a standout example of this trend, offering a unique blend of luxury, modernity, and accessibility, making it a global hub for the super-rich. It attracts a diverse clientele who establish family offices, businesses, and permanent residences here, and this creates a consistent demand for luxury yachts, as these individuals seek to complement their lifestyle with the ultimate symbol of status and leisure.

The Middle East, and particularly Dubai, is well-positioned to increase its market share in the yachting industry, with a growing base of permanent high-net-worth individuals, combined with impressive infrastructure investments, setting the stage for robust growth in yacht sales in the coming years. Heesen, renowned for its world-class superyachts, will be catering to this burgeoning market and capitalising on opportunities presented by the Middle East’s evolving luxury landscape.

By Hisham Abushakra, Heesen’s man in the Middle East [photo]