The UAE’s Gulf Craft, one of the leading yacht builders in the world, is to build a new facility in Dubai Maritime City (DMC), a world-class maritime cluster in the heart of Dubai.

The company will invest $100 million over the next five years in developing the approximately 900,000-sq-ft freehold plot located within the marine district of DMC. The state-of-the-art facility will be used to build a shipyard for the manufacture of superyachts.

Mohammed Hussein Al Shaali, Chairman of Gulf Craft, said: “A presence in Dubai Maritime City is a much anticipated move for the company and will open a new horizon for Gulf Craft’s prospective global plans at a strategic level. A prominent footprint and operations within Dubai will place us at the heart of the regional and international market.”

Erwin Bamps, CEO of Gulf Craft added: “As a company, Gulf Craft has been lauded for its creative approach to yacht and boat building and this new shipyard will allow us to further align with Dubai’s National Innovation Strategy which aims to make the UAE one of the world’s most innovative nations within the next seven years. We intend investing in a state-of-the-art setup with regard to technology, design and operational efficiency.”

Dubai Maritime City, which is located on an area of over 21.52 million sq ft, has been designed to promote the interests and lifestyle of the maritime community. Supported by highly developed and sophisticated infrastructure, as well as a suitable environment for the modern life balance between work and living conditions, Dubai Maritime City offers facilities to suit a multitude of purposes such as housing, offices, entertainment and retail.

Founded in the UAE in 1982, Gulf Craft is a major manufacturer of luxury yachts and fiberglass boats and one of the world’s top 10 superyacht builders (as listed in the 2014 Global Order Book).

Gulf Craft has built a distinguished reputation as a manufacturer of a wide diversity of vessels, ranging from fishing and family boats to sport cruises and semi-customised luxury superyachts.

With an annual production capacity of around 400 craft and expertise built over three decades in the business, Gulf Craft has a presence in all boating markets globally through its Majesty Yachts, Oryx and Silvercraft brands. In addition, Gulf Craft provides worldwide maintenance and re-fit services as well as advisory on all aspects of boat ownership.