Saudi Arabia looking
to become the emerging frontier of superyacht sector
In the year 2022, Saudi Crown Prince Mohammed bin Salman revealed plans for the development of
Sindalah, an opulent island retreat within the NEOM project. This initiative is
a pivotal component of Saudi Arabia's Vision 2030, a comprehensive endeavor
aimed at diversifying the nation's economy. NEOM encompasses a vast expanse in
the northwestern region of the country and envisions operating entirely on
renewable energy sources.
Sindalah, located
within the Red Sea, constitutes a portion of a broader cluster of islands being
developed within NEOM. It is poised to emerge as the preeminent luxury island
and yacht club destination within NEOM, offering tailor-made nautical
experiences. The undertaking is forecast to generate approximately 3,500
employment opportunities and anticipates welcoming its first guests by early
2024.
Saudi Arabia's firm
decision to infuse substantial investments into the growth of its superyacht
industry and establish itself as a foremost yachting haven for luxury yacht
proprietors stems from the overarching ambition to diversify its economic
landscape. The superyacht sector represents a multifaceted, high-value domain
encompassing an extensive spectrum of activities. Characterized by
sophisticated marina infrastructure, intricate design, expert craftsmanship,
and cutting-edge technology deployment, the world of superyachts presents an
unparalleled experience that necessitates continuous innovation and evolution
to exceed the loftiest of expectations.
This strategic move to
channel resources into the superyacht sector is propelled by the fusion of a
compelling vision with the very essence of yachting itself. It harmoniously
merges Saudi Arabia's ambitious NEOM project with the exceptional offerings of
the superyacht industry, culminating in a perfect synergy. By embracing this
industry, Saudi Arabia aspires to foster economic diversification while
positioning itself at the forefront of one of the most thrilling and
technologically advanced sectors globally.
Analyzing statistical
data since 2017, there's a discernible uptick in the Arabian Gulf's appeal as a
preferred destination for superyachts. Examining AIS signals transmitted by
yachts over 30 meters between January 1, 2017, and June 30, 2022, within the
surrounding waters of the peninsula, reveals this trend. In 2017, the region
hosted 69 individual superyachts over 30 meters. By the close of 2021, this
number had surged to 104 superyachts per annum, indicating a robust 51%
expansion over four years, corresponding to an average annual growth rate of
11%. The true influx of superyachts, however, manifested in 2022. In the
initial six months alone, the count reached 96 superyachts, nearly on par with
the total for the entire year of 2021.
This substantial
augmentation in superyacht presence and the robust foreseen growth
unequivocally positions the Arabian Gulf as a promising destination of choice
for aficionados of superyachts.
Antoni Vives, Chief
Urban Development and Islands Officer at NEOM
In an interview with SuperYacht
Times, Antoni Vives, Chief Urban Development and Islands Officer at NEOM,
delved into Saudi Arabia's strides within the superyacht sector and the
ramifications of Sindalah's development.
Referring to role of
Sindalah Island in Saudi Arabia's evolution of superyacht infrastructure,
Antoni Vives said: “Sindalah Island assumes a pivotal role in the evolution of
Saudi Arabia's superyacht infrastructure. It serves as the initial, distinctive
stride that encapsulates NEOM's ethos and image. Its significance lies in
unfurling the possibility of a novel yachting season on the global stage.
Positioned proximally to renowned European destinations such as Barcelona,
Rome, Athens, and the coasts of France and Italy, Sindalah extends an exclusive
and exotic destination, easily accessible to major luxury markets and
celebrated yachting hubs.”
Antoni Vives while
describing the distinguishing attributes of Sindalah Island said the location
stands as the pioneering endeavor among over 6,000 berths and the expansive
coastline in development.
He said the essence of
Sindalah's distinction is embodied in its artful design, meticulously crafted
by superyacht designer Luca Dini, who has transitioned his expertise to create
this extraordinary island. The thoughtfully harmonized density of design,
coupled with a plethora of exceptional dining venues, retail spaces, and
unparalleled hospitality offerings, promises an experience unparalleled
elsewhere. Collaborations with luxury hotel brands like Marriott and Four
Seasons further amplify its exceptional character.
When asked about range
of amenities and services being developed on Sindalah Island, Vives explained: “Sindalah
Island is actively cultivating a comprehensive spectrum of amenities and
services catering specifically to the requisites of superyacht proprietors and
their guests. Our marina operations will be overseen by IGY Marinas. Alongside,
we are collaborating with industry leaders like BWA and MB92 to offer optimum
support and assistance. MB92, globally renowned, excels in addressing myriad
needs for yacht owners, charterers, and captains. Armed with this comprehensive
package of amenities and services, we assure an experience that's nothing short
of joyous and remarkably seamless on Sindalah.”
Elaborating on Saudi
Arabia's strategic plans and investments aimed at enticing superyachts beyond
Sindalah Island, he said Saudi Arabia's portfolio comprises a captivating array
of strategic plans and investments designed to allure superyachts beyond
Sindalah Island.
Antoni Vives said with
an extensive 400-kilometer coastline, 39 unspoiled islands, and the Gulf of
Aqaba, NEOM stands as a destination of exclusivity in its own right. Through
close collaboration with multiple ports and marinas, NEOM is poised to evolve
into an authentic sanctuary for superyachts, offering unparalleled experiences
enriched by each dawn and dusk.
Meanwhile extending
further southward, the extraordinary Amaala Project and the awe-inspiring Red
Sea Project come into focus. These destinations showcase exceptional
architectural designs, with Amaala leaning toward resort-oriented experiences
and NEOM cultivating vibrant communities. Each proposition radiates a unique
charm and identity, collectively augmenting Saudi Arabia's multifaceted appeal.
Furthermore, the region beckons superyachts from Western nations, culminating
in a comprehensive array of experiences and offerings that position Saudi
Arabia as an irresistible destination for both superyacht owners and
enthusiasts.
Source: https://www.superyachttimes.com/
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