With the completion of Dubai Harbour, local developer Meraas will own and operate the largest marina in the Middle East and North Africa. Adjacent to Dubai Marina and Media City, the 1,100 new berths will double the current availability in the UAE. The newly established joint venture with Dubai Holding also includes marinas in Port de la Mer, Dubai Harbour and Jumeirah Beach Hotel.
More marinas are needed in the UAE as demand from the region continues to grow. According to Frost & Sullivan, the global recreational boat market is expected to be worth approximately $23 Billion in 2018. The global consultancy and research firm also predicted that the market would grow to between US$28 billion and US$30 billion by 2022 in a recently published report. The GCC region is a major market for luxury yachts with 205 luxury yachts requiring a berthing length of more than 40 metres, representing 13 per cent of the world’s yacht fleet.