The company will invest 100 million dollars over the next five years in developing the approximately 900,000 square foot freehold plot located within the marine district of DMC. The facility will be used to build a shipyard for the yacht builder.
Commenting on the announcement, Mohammed Hussein Al Shaali, chairman of Gulf Craft expressed the company’s commitment to the project. “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,” he says. “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 on 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 square feet, has been designed to promote the interests and lifestyle of the maritime community. Supported by 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.