Latest news with #MohammedHusseinAlshaali
Zawya
09-05-2025
- Business
- Zawya
Erwin Bamps returns as Gulf Craft CEO
Dubai, UAE – Gulf Craft announces the appointment of Erwin Bamps as its new CEO to support its next phase of development across key international markets. Bamps, who played a pivotal role in Gulf Craft's global rise in the early 2000s, brings extensive leadership experience and keen market insights across Europe, Asia, Australia, and the Americas—key regions shaping the industry, where the Group is now actively challenging the dominance of legacy shipyards. His return comes as Gulf Craft scales up production, broadens its model range, and accelerates its reach into both mature and high-growth markets. Underpinning Gulf Craft's growth strategy is a focus on high-tech composite construction, design innovation, and tailored customer experiences—areas where the company has steadily intensified its competition with traditional builders. 'Erwin's return comes at an important time for Gulf Craft, as we continue to focus on strengthening our presence across key global markets. He knows Gulf Craft well, understands the values that have shaped the company, and brings with him broader international experience that will support our future plans. We look forward to working closely together to build on the foundations we have set in place.' — Mohammed Hussein Alshaali, Chairman, Gulf Craft 'Gulf Craft is entering a defining era,' said Erwin Bamps. 'With an already solid global footprint and rising brand equity, we are poised to claim greater market share across the full spectrum—from long-range luxury explorers to fully customised superyachts. The opportunity now is to amplify our global presence, deepen relationships with our clients, and push the boundaries of what Gulf Craft can deliver, without losing sight of the Emirati values and vision that make us unique.' About Gulf Craft Group: Gulf Craft Group is a prominent global entity with multiple companies under its umbrella in the yacht and boat manufacturing industry. Our portfolio includes Gulf Craft, Gulf Craft Maldives, and Gulf Craft Services. Together, we deliver high-quality, personalised vessels for leisure and commercial pursuits to a diverse global clientele, along with exceptional service and support. At the heart of Gulf Craft Group is Gulf Craft, the parent brand that oversees prestigious names such as Majesty, Nomad, Oryx, SilverCAT, and Touring Passenger Vessels. These brands offer a wide range of yachts and boats, from 32 to 175 feet, embodying advanced technology, powerful engineering, timeless design, and world-class craftsmanship. Guided by visionary leadership and driven by a passionate global team, Gulf Craft continually pushes the boundaries of design and performance. This commitment is exemplified by the flagship Majesty 175, the world's largest composite-production superyacht. Since its founding in 1982, Gulf Craft has been at the forefront of innovation, solidifying its international presence through a robust dealership network. The Group operates state-of-the-art manufacturing and service facilities, including a 462,000 sq. ft shipyard in Umm Al Quwain and an additional facility in Ajman, UAE. Since 2002, Gulf Craft Maldives has also operated a 100,000 sq. ft manufacturing and servicing facility in the Maldives, with a brand new 800,000 sq. ft facility set to launch soon. To date, the company has built over 10,000 boats. Gulf Craft Group's unique integrated approach ensures comprehensive support and service for its customers worldwide, continually meeting and exceeding customer aspirations.
Zawya
26-03-2025
- Business
- Zawya
Iftar Onboard _ Gulf Craft hosts exclusive private viewing of the Majesty 112 terrace at Dubai Harbour Marinas
Dubai, UAE - Gulf Craft, the UAE's pioneering yacht builder, hosted an exclusive private viewing of the Majesty 112 Terrace at Dubai Harbour throughout Ramadan, following its remarkable showcase at the Dubai International Boat Show 2025. This intimate iftar experience offered clients and industry insiders the opportunity to explore the latest addition to the Majesty fleet in an elegant and serene setting of Dubai Harbour Marinas with a stunning sunset skyline as a backdrop. As a brand synonymous with innovation and craftsmanship, Gulf Craft continues to solidify its global leadership in yacht manufacturing. The Majesty 112 Terrace is a new trideck from the shipyard. Since the superyacht is semi-custom, buyers can choose up to six staterooms, plus arrange lounges as they wish. Additionally, a wide range of materials for wall panelling, soles, and furnishings is available. Similar to many yacht buyers these days, Majesty' clients are leaning towards natural materials and soothing tones and textures. They're further leaning toward open floor plans for the main deck. The ongoing private viewing provides discerning clients with the chance to appreciate the yacht's meticulous craftsmanship, expansive living spaces, and advanced engineering in a personalised setting. 'Ramadan is a time of reflection and meaningful connections, and we wanted to offer our clients a unique opportunity to experience the Majesty 112 Terrace in an intimate atmosphere. The overwhelmingly positive response at the Dubai International Boat Show reinforced our vision for the Majesty brand, and this private viewing allowed us to further engage with our valued clientele in a bespoke environment', commented, Mr Mohammed Hussein Alshaali, Chairman Gulf Craft Group. The Majesty 112 Terrace redefines contemporary superyacht living, featuring expansive deck areas, an optimised hull design for superior performance, and a seamless integration of indoor and outdoor spaces. With refined interior finishes and state-of-the-art technology, it is crafted to meet the evolving expectations of modern yacht owners who seek both luxury and efficiency. With a growing international presence and a steadfast commitment to excellence, Gulf Craft continues to elevate its global standing while staying true to its Emirati heritage. Hosting this exclusive private viewing throughout Ramadan at Dubai Harbour Marinas underscores the brand's dedication to offering unparalleled experiences that resonate with the lifestyles and traditions of its clientele. As Gulf Craft expands its footprint across key markets, the Majesty 112 Terrace stands as a testament to the shipyard's forward-thinking approach and unwavering pursuit of excellence in the yachting industry.
The National
19-02-2025
- Business
- The National
Cryptocurrency investors driving up demand for superyachts at Dubai Boat Show
The demand for luxury yachts in the region is rising as more cryptocurrency investors enter the market, and those who bought property during the pandemic cash in on their long-term profits, experts have told The National. Speaking at the Dubai International Boat Show, which got under way in the emirate on Wednesday, industry insiders said requests for luxury superyachts from millionaires moving to the Emirates is the main trend in the sector right now. 'We're seeing more crypto investment types and also those who have made money from Nvidia stock,' Brett Noble, co-founder of Bush and Noble yacht brokerage, told The National. 'Also we're starting to see a lot of people who bought property here during Covid and sold it for a significant profit recently and having a bit of extra cash now. It used to be people around the 40 age mark who were buying yachts but now we're seeing people a lot younger getting involved.' Ownership of superyachts in the Middle East and North Africa (Mena) region has increased by 20 per cent over the past five years, according to the organisers of the boat show. Last year's event unveiled superyachts worth a total of Dh2.9 billion. In some cases, extra staff have had to be hired to cope with the surge in demand from the ultra-rich hoping to take to open waters in style. 'We've increased our staff by about 10 per cent, which is 150 people, because demand is so high right now,' said Mohammed Hussein Alshaali, chairman of UAE-based superyacht manufacturer Gulf Craft. 'There's a steady growth of high net worth individuals (HNWI) moving to Dubai and a lot of them are becoming part of our market.' Thousands of millionaires moved to the UAE last year, according to a report last month by global analytics firm New World Wealth and investment migration advisers Henley & Partners. The number of super-rich individuals moving to the UAE significantly exceeded the 6,700 that was originally predicted in October, The National understands. It is almost double the projections for those moving to the US, in second place with 3,800, and third-place Singapore with 3,500. The report found the UAE is the top place for HNWIs to establish a home. The growing appetite for superyachts was reflected by Gulf Craft, which unveiled eight new models on Wednesday morning at the boat show. 'This is the busiest we've been since Covid,' said Mr Alshaali. His belief that the influx of ultra-rich into the region was driving the increase in demand was echoed by another regional expert. 'There are a lot of [ultra-rich] people coming to live here in Dubai. They moved here from Europe and that's why we're seeing a lot of new play in town in the market,' said Mohamad Z Chehab, chief executive of Princess Yachts Middle East. Any suggestion that yachts are exclusively bought by rich white middle-aged men would be wide of the mark, according to Mr Noble. 'There's a misconception that it's the man buying the boat,' he said. 'It's very much a family-wide decision because, after all, they are going to be sharing the same space together [at sea]. 'It's also been the case for quite some time that a lot of women here in the GCC are into yachting and buy boats to spend time with their friends in a private space.' Another emerging trend, he said, was that many owners were requesting superyachts with a lot of extra open space. 'Instead of closed-off areas with smaller areas, people are asking for areas which can be opened up to make them more fun,' he said, adding these areas of a boat are referred to as beach clubs within the industry. 'They want to have more areas to lounge or swim. It means they can stay on the boat instead of docking and having to find somewhere else for that sort of experience. Rather than going back and forth to a hotel, they are spending more time on the boat.'
