Dubai International Boat Show 2025 underway as Golden Visa announced for yacht-owners
- 31st iteration runs from February 19-23
Dubai International Boat Show 2025 (DIBS) is currently underway, attracting spectators, yacht-owners and potential customers to the Dubai Harbour as the government announces a new 10-year Golden Visa for yacht owners.
The UAE constitutes 45% of the Ultra High Net Worth (UHNW) population in the Middle East, making it a key driver of the luxury yacht market and the number of superyachts in the region has increased 20% in the last 5 years, according to data provided by DIBS.
Earlier this week, Dubai also announced a new 10-year Golden Visa scheme for yacht owners, according to the General Directorate of Residency and Foreigners Affairs (GDRFA) on Monday.
This would allow visa-holders to live, work and study in the UAE without a sponsor or an employer.
In December, a similar initiative was launched in Abu Dhabi to offer Golden Visa to superyacht owners in the Capital, in an effort to attract high-net-worth individuals (HNWIs) to Abu Dhabi, according to Khaleej Times.
While superyachts and new launches continue to dominate the limelight, this year, DIBS is noting a marked increase in potential buyers navigating the world of pre-owned luxury vessels, starting from $160,000 and upwards of $8 million, according to a press release issued by the company on Friday.
DIBS is also a networking platform, connecting spectators and buyers with over 1000 brands specialising in boats, yachts and watercraft and is expected to attract over 35,000 visitors over five days.
A representative for Zein Marine, specializing in yachts, boats and water toys told Business Recorder how DIBS is the only international boat show in Dubai and therefore “unmissable”.
Among the showstoppers this year is the Lamborghini 63, a vessel embodying the Italian automotive brand’s performance and design ethos. This marks the first time a Lamborghini yacht has been showcased in the Middle East.
Additionally, the show is also shedding light on the Emirates’ growing role in yacht manufacturing.
One company, Sunreef Yachts, backed by sporting legends such as Formula One icon Fernando Alonso and tennis star Rafael Nadal, is set to debut its first UAE-built vessel, the Sunreef Ultima 55, according to the press statement.
Artur Poloczanski, PR Director at Sunreef said, “Our shipyard in Ras Al Khaimah has been very busy building this yacht – the main reason we are participating at DIBS this year,” as per the press release.
The yacht charter market is estimated to grow at a CAGR of 5% from 2023 to 2028, according to DIBS.
Dubai is considered a leading global destination for marine tourism attracting millions of visitors annually and contributing billions of dollars to the MENA economy.
Comments