dubai president yacht

So luxurious is Dubai ruler’s $400 million megayacht that it is literally a floating Burj Al-Arab – Aptly named Dubai the 531 feet long vessel has 50 lavish guest rooms, its own submarine, a disco, a squash court and a swimming pool that is lit up by embedded fiber optic lights.

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DUBAI Yacht – World’s Third Biggest $500M Superyacht

The DUBAI yacht is one of the biggest yachts in the world .

The 162-meter vessel was built by Blohm + Voss in Germany and delivered to her owner the prime minister of the United Arab Emirates, in 2006.

DUBAI yacht interior

Since DUBAI took nearly ten years to complete her interior was replanned several times.

Andrew Winch is thought to have influenced the design and the renowned studio Platinum Yachts also worked on DUBAI.

The interior of this gigantic vessel is just as you might expect it.

Luxurious furniture, opulent design, and extravagant features complement the beautiful exterior of DUBAI.

The interior is decorated in bright colors with a great variety of entertainment spaces and salons.

The glass staircase is a central focal point within the yacht and is reminiscent of a cruise ship.

DUBAI can welcome 48 guests in 24 luxurious cabins as well as a sizable crew of 88 members.

There is a nightclub, a spa, a beauty salon, a cinema, and a gym on board DUBAI.

Many rooms are decorated with mosaics or tapestries and only the finest and most expensive fabrics.

Specifications

DUBAI has a length of 162 meters (531.6 ft) making her the fourth largest yacht in the world.

She has a 22-meter (72.2 ft) beam, a 5-meter (16.5 ft) draft, and a total weight of 12,488 tons.

Her four diesel MTU engines allow her to reach top speeds of 25 knots with an average cruising speed of 20 knots.

Her 1,250,000 liter fuel tanks bring her total reach to an impressive 8,500 nautical miles. 

The exterior of the DUBAI yacht was developed by the well-known English yacht designer Andrew Winch.

His international design studio took special care with this project, and it is one of their largest to date.

The DUBAI yacht is an all-white yacht with a massive aluminum superstructure and steel hull.

She has a helipad and a beautiful mosaic swimming pool located aft.

Of course, there is plenty of space reserved for sunbathing on one of the vessel’s seven decks.

Two 10-meter tenders find space on board DUBAI as well as a large selection of water toys.

DUBAI yacht price

The sheikh purchased DUBAI for a price of US $500 million in 2006, which makes her one of the more expensive superyachts in her size category.

She generates an estimated US $35 to 50 million in annual running costs.

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Yas, the megayacht of the Prince of Dubai

Yas, is the luxury megayacht of the heir of Dubai of 141 meters in length, and before it was a war frigate.

Yas is one of the most famous yachts in the world, which belongs to the heir of Dubai , Hamdan Bin Mohammed bin Rashid Al Maktoum , who has been in the waters of the Mediterranean all summer.

Yas is one of the largest yachts in the world, with 141 meters in length and the capacity to comfortably accommodate 60 guests and 56 crew members. Its carbon fiber design and sky blue windows give it a very futuristic finish. The interior has a minimalist and elegant decoration that moves away from Arab stereotypes.

The history of this ship is quite peculiar, it comes from a Dutch frigate Hr Ms Piet Heyn F-811, which after her military life would serve as the basis for the new Emirati yacht. In 2003, the government of the Netherlands sold two of its frigates to the United Arab Emirates navy for the construction of two shipyards, one military and the other civil.

The good condition of one of the frigates led to the initial idea being rethought and instead it was transformed into a luxury yacht, thus Yas was born. To do this, they hired the French company specialized in luxury boats and aircraft, Pierrejean Deisgn, which, among other tasks, added an additional eleven meters in length – the initial one was 130 meters – and replaced the steel structure with a lighter fiberglass frame. glass. They also created the dome in sky blue and the exterior was painted in off-white. The works began in 2011 and lasted until 2015, the year in which its new owner began to navigate the world on board.

Among other amenities, it has several swimming pools, a Spa, a helipad, a beach club, a lounge bar as well as cameras and radars of the latest technology to allow satellite communications.

The heir boasts in his networks of his luxurious lifestyle

View this post on Instagram A post shared by Fazza (@faz3)

Hamdan Bin Mohammed bin Rashid Al Maktoum , who they call Fazza , at 38 years old is an influencer on Instagram . He has more than 12 million followers and on his account he does not hesitate to share his luxurious lifestyle, where in addition to snapshots of the most luxurious Dubai, trips in natural environments predominate.

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U.S. Eyes $156 Million Yacht in Dubai Linked to a Russian Oligarch

The U.S. Justice Department is taking steps to seize the Madame Gu, a 324-foot luxury yacht, but it will be diplomatically thorny.

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By Kate Kelly ,  Michael Forsythe and Julian E. Barnes

DUBAI, United Arab Emirates — On a clear morning in late October, the jewel-blue hull of the Madame Gu, one of the world’s most luxurious superyachts, gleamed, its aluminum rails shimmering in the sun. Workers on the pier said they had recently seen people painting, cleaning and generally keeping the ship with its helipad and six guest staterooms in pristine condition.

In past years, such a scene would not have been noteworthy. Many superyachts come and go from Dubai’s Mina Rashid Marina, best known as the home of the Queen Elizabeth 2, the trans-Atlantic ocean liner-turned-hotel that dominates the waterfront here.

But Russia’s war in Ukraine has turned an otherwise routine tableau into a diplomatic battleground between the United States and the United Arab Emirates, an important American ally that has established itself as a safe haven for Russian money and assets out of the reach of U.S. sanctions.

The $156 million Madame Gu epitomizes the problem. In June, the United States designated the vessel, which is linked to Andrei Skoch, a Russian steel magnate and lawmaker under sanctions, as blocked property. That means the yacht cannot use American companies for its upkeep, employ U.S. citizens or even use the dollar. The Justice Department is now taking steps to seize the Madame Gu, according to people with knowledge of the plan.

But the United States can’t seize property in a sovereign nation without permission from its government. The Emirates, which has taken a friendlier position toward Moscow, is balking at cooperating with the United States to pursue oligarchs, American officials said. The Kremlin is also using oligarch-controlled companies in the Emirates to acquire war supplies that the West is trying to keep out of Russia’s reach, according to a Western official involved in the sanctions effort against Russia.

Emirati officials did not comment specifically on the Madame Gu but said in a statement that they took their role “protecting the integrity of the global financial system extremely seriously.”

A closer examination of Russian assets in the Emirates shows that even before the war in Ukraine, Dubai had become a playground for Russians with links to President Vladimir V. Putin. At least 38 businessmen or officials with ties to the Russian president own homes in Dubai that are collectively valued at more than $314 million, according to the Center for Advanced Defense Studies. Five of those owners are under U.S. sanctions.

Since the Russian invasion, Dubai has established itself as a safe haven for Russian yachts and aircraft unable to sail or fly elsewhere. After Russian jets were barred from the European Union in late February, the Emirates became the destination for 14 percent of all private flights leaving Russia, up from 3 percent before the invasion.

“It’s frustrating when you see huge assets that are sitting out there and it appears that the country is not cooperating,” said Senator Sheldon Whitehouse, Democrat of Rhode Island, referring to the Emirates. “It would be nice if there were more common cause against Putin while he’s busy shelling hospitals and schools.”

Mr. Whitehouse is sponsoring legislation that would use proceeds of the sales of seized Russian assets to help rebuild Ukraine. Senior officials at the Treasury and State Departments have also complained publicly about the situation.

U.S. officials view the presence of superyachts in places like Dubai and Bodrum, Turkey , as a symptom of wider Russian circumvention of sanctions and continued access to financial markets. Yachts have also come to symbolize the decadence of Russia’s oligarchs, especially at a time when Russian soldiers are scrounging for body armor and sleeping bags on the front lines.

Pursuing the Madame Gu

Built by the Dutch firm Feadship and put into service in 2013, the Madame Gu has a large helicopter pad on its forecastle with a hangar underneath that can double as a squash court when the chopper isn’t on board. The vessel has berthing for 36 crew members, according to one trade magazine.

Mr. Skoch, a member of Russia’s Parliament who is linked to assets worth billions of dollars, according to U.S. court filings, has had sanctions imposed on him twice by the United States, first in 2018 and then after Russia’s invasion this year. The Treasury Department has cited his “longstanding ties to Russian organized criminal groups.”

Mr. Skoch could not be reached and did not respond to messages left at his office at Parliament.

In an interview in October about the government’s broader efforts to go after the assets of oligarchs, Andrew Adams, a federal prosecutor leading the Department of Justice’s KleptoCapture task force, declined to discuss the Madame Gu. But the United States, he said, is warning companies they must not do business with individuals and assets under sanctions. The government, he said, will pursue oligarch-owned assets whose sale could be used to aid Ukraine.

“Where we know there is an asset that can potentially provide significant remuneration for Ukraine, that obviously is an attractive case to pursue,” he said.

U.S. officials are likely to use the case they made for impounding a $90 million Airbus business jet linked to Mr. Skoch in August as a blueprint for seizing the Madame Gu, said people familiar with the plan.

That means investigators will aim to show that the owner of the vessel, or the companies that have been providing services to it, have intersected with the U.S. financial system.

“If there are U.S. dollars or a U.S. nexus associated with supporting this vessel, massive enforcement actions could take place,” said Adam M. Smith, a former official overseeing sanctions at the Treasury Department. Companies that provide support to entities under sanctions could potentially face their own sanctions, said Mr. Smith, who is now a lawyer at Gibson Dunn in Washington.

This year the United States has carried out two high-profile seizures of yachts tied to Russians under sanctions, working with cooperative governments. The $300 million Amadea was taken in Fiji in May and sailed to San Diego under an American flag. In April, the United States worked with Spanish police to seize the $90 million Tango.

A Problematic Partner

Diplomatically, the Emirates has been reluctant to take a clear anti-Russian position when it comes to the war in Ukraine. Sheikh Mohammed bin Zayed Al Nahyan, president of the United Arab Emirates, recently met with Mr. Putin in St. Petersburg, and the Emirati foreign minister recently hosted his Russian counterpart. Yet Sheikh Mohammed has also talked with Volodymyr Zelensky, the president of Ukraine, more than once and recently gave the country $100 million in humanitarian aid.

The United States has publicly expressed dismay over the mixed messages.

During a visit to Dubai in June, Wally Adeyemo, the U.S. deputy treasury secretary, warned of the need for vigilance and proactive steps in combating Russian evasion. That same month Barbara Leaf, the State Department’s under secretary for Near East Affairs, said at a congressional hearing that regarding the Emirates, she was “not happy at all with the record at this point” on sanctions enforcement. Mr. Adeyemo reiterated his concerns in a meeting with Emirati officials in October in Washington.

A senior State Department official said in a statement to The New York Times that the agency continues “to reinforce the importance of conducting enhanced due diligence to prevent sanctions evasion and investigating allegations of such activity” to the Emirates.

The Treasury Department declined to comment on the Madame Gu or the relationship with the Emirates.

Last month, the Treasury Department announced it had placed sanctions on an Emirates-based company, Constellation Advisors Ltd., that the American government said was operating on behalf of a nephew of another Russian oligarch, Suleiman Kerimov. Mr. Kerimov, according to American court documents, was the owner of the Amadea superyacht .

American officials are also worried the Russian government is using the Emirates to acquire military supplies for its war in Ukraine. On Nov. 15, the Treasury Department imposed sanctions on two Emirates-based transportation firms that had worked with another Iranian firm under sanctions, which in turn had helped transport drones and personnel from Iran to Russia.

Moored in Dubai

Based on a recent visit to Dubai’s Mina Rashid Marina , where the Madame Gu is moored, it is clear that international companies are playing a critical role in its care.

The Emirates-based company DP World, through its subsidiary P&O Marinas , oversees the pier where the Madame Gu is moored. Employees from another DP World subsidiary , World Security, staff the small guard box at the entrance. That makes DP World, which is owned by Dubai’s royal family, potentially vulnerable to American sanctions.

DP World “fully complies with all applicable local and national laws and intends to continue doing the same regarding the Madame Gu and other vessels utilizing our services,” said Adal Mirza, a spokesman for the company. He added that DP World had not yet heard from the United States or other countries that had placed Mr. Skoch under sanctions, including Britain and the European Union.

A generator set that dock workers said in late October was powering the Madame Gu — two container-like structures near its stern — bore the distinctive orange logo of Aggreko , a British company. The generator set was connected to the superyacht by thick cords; one of the containers was emitting grayish exhaust.

At the Mina Rashid Marina, soon after Aggreko was contacted by The Times, workers removed the generator. “Having identified that the generator was being used to power a vessel that is allegedly connected to a sanctioned person, we immediately terminated this rental and have since recovered the generator,” the company said in a statement.

Mr. Mirza, the DP World spokesman, said the Aggreko generator had been replaced with one from a local supplier.

P&O Marinas arranged for the diesel generator to provide power for the Madame Gu because that part of the pier, a holding area, has no shore-supplied electric power, said a port official in Dubai, who spoke on the condition of anonymity because he is not authorized to talk to the press.

“At the end of the day, if the U.A.E. hasn’t imposed sanctions, it’s not really their job to enforce other countries’ laws within their borders,” said Nabeel Yousef, a Washington-based partner at the law firm Freshfields, where he runs the sanctions practice. Nevertheless, “companies should not take comfort in the fact that their country has not imposed sanctions,” he added, “because even the smallest connection to the U.S. can lead to U.S. penalties.”

There has also been a notable absence onboard the Madame Gu in recent weeks: a flag. Unlike other ships moored nearby, including the Quantum Blue, a superyacht linked to the billionaire Sergei Galitsky, the Madame Gu appears to be stateless, apparently having been deflagged by the Cayman Islands.

Cayman Islands officials didn’t respond to an emailed inquiry about the ship’s status.

If DP World were to face fallout from U.S. sanctions enforcers, it wouldn’t be the first time the company has been the focus of attention in Washington. In 2006, DP World was seeking to manage some terminal operations at six American ports but dropped out of the deal after a bipartisan uproar in Congress.

Anton Troianovski contributed reporting from Turin, Italy, and Oleg Matsnev from Berlin.

Kate Kelly covers money, influence, and policy as a correspondent in the Washington bureau of the Times. Before that, she spent twenty years covering Wall Street deals, key players and their intersection with politics. She is the author of three books, including "The Education of Brett Kavanaugh." More about Kate Kelly

Michael Forsythe is a reporter on the investigations team. He was previously a correspondent in Hong Kong, covering the intersection of money and politics in China. He has also worked at Bloomberg News and is a United States Navy veteran. More about Michael Forsythe

Julian E. Barnes is a national security reporter based in Washington, covering the intelligence agencies. Before joining The Times in 2018, he wrote about security matters for The Wall Street Journal. More about Julian E. Barnes

Our Coverage of the War in Ukraine

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President Vladimir Putin of Russia warned the United States and its allies that he is willing to arm North Korea  if they continue to supply Kyiv with sophisticated weapons that have struck Russian territory.

The Biden administration will rush Patriot missiles to Ukraine  by delaying certain weapons shipments to other countries, a move that a White House spokesman described as “difficult but necessary” given Russian advances.

Mark Rutte, the departing prime minister of the Netherlands who has guided more than $3 billion in Dutch military support to Ukraine since 2022, is poised to become NATO’s next secretary general .

Inside Russia’s Chechen Units: After hundreds of years of enmity with Russia, Chechens are deploying to Ukraine to fight Moscow’s war .

Narrowing Press Freedoms: Journalists in Ukraine say they are subject to increasing restrictions and pressure from the government , adding that the measures go beyond wartime security needs.

Belugas Escape Ukraine: A pair of beluga whales were transported out of danger in Kharkiv to an aquarium in Spain in an incredibly complex rescue .

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We monitor and authenticate reports on social media, corroborating these with eyewitness accounts and interviews. Read more about our reporting efforts .

Dubai emerges as global superyacht capital

Dec 19, 2021 12:00 AM

Building on a rich maritime heritage, Dubai has made rapid progress to emerge as a preferred destination for yacht owners, charters and cruise travelers from across the world and a leading multi-faceted global hub for the sector. With its world-class infrastructure, picturesque coastline, simplified access procedures, open anchorage areas, luxury marinas and diverse sea and land based experiences, Dubai has become a global yacht tourism magnet and the destination of choice for owners and captains of superyachts, especially in the winter season from October to April .

His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Council for Border Crossing Points Security, said the rapid growth of Dubai’s maritime tourism sector has contributed significantly to reinforcing the emirate’s status as one of the world’s most popular tourism destinations. His Highness called for further efforts to accelerate the pace of the sector’s growth and the development of its offerings, building on the successful start of Dubai’s cruise tourism season this year .

His Highness said: "Dubai’s leadership is committed to providing the world-class infrastructure, facilities and support necessary for maritime tourism to flourish in the emirate and for tourists to have a smooth, hassle-free and enriching experience. Dubai has a long and distinguished track record for providing exceptional services in this sector, which has made it a destination that is a favourite among both industry players and tourists worldwide .”

Under the directives of His Highness Sheikh Mansoor bin Mohammed, a cross-governmental task force was established to ensure that all foreign-flagged yachts, whether shipped or sailing to Dubai, have a seamless experience on arrival and benefit from full access to modern infrastructure and advanced marina based facilities . 

Following the launch of Dubai Harbour in 2020, and the expansion of several marinas across the emirate in the last 18 months, Dubai is now home to 15 marinas with more than 3,000 berths, which can accommodate an array of pleasure craft and luxury yachts as well as superyachts and gigayachts .

Dubai is particularly attractive as a hub for superyachts, with its world-class facilities and sophisticated infrastructure, and plethora of fine-dining restaurants, diverse experiences and tourism attractions, all within easy access of the marinas. According to Oxford Business Group, more than 200 superyachts (37 – 60m yachts) were registered across the Middle East as of 2019, with Dubai being the base for many of these vessels. The dock and dine options that are available at the marinas, in addition to its varied destination offerings, span many leisure touchpoints from heritage to entertainment, outdoor adventures to beach activities, gastronomy to family-oriented experiences, and from shopping to luxury .

With the impact of the pandemic continuing to influence new travel trends globally, residents and tourists are now seeking more private and closed-group activities. As a result, yachting has become increasingly popular with both tourists and residents alike, with owners and captains seeking to berth their vessels in marinas along Dubai’s coastline, such as the new Dubai Harbour .

Sheikh Saeed bin Ahmed bin Khalifa Al Maktoum, Executive Director of Dubai Maritime City Authority, said: “The Dubai Maritime City Authority is committed to promote Dubai’s position in the global maritime sector, by developing productive partnerships and innovative initiatives to elevate the leisure industry, create unique yacht tourism experiences and raise the sustainability of the sector in Dubai. In line with the futuristic vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, we’re moving forward to advance marine leisure activities, tourist destinations, marinas, recreational places and yacht services to create a leading cluster for maritime activities in Dubai .”

Issam Kazim, Chief Executive Officer of Dubai Corporation for Tourism and Commerce Marketing, commented: “We are seeing a rapid rise in yachting and cruising, two key offerings that support our tourism growth strategy in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to position the emirate as the most sought-after destination to visit as it continues to offer diverse tourism experiences as well as enhance its appeal as a global hub for businesses and an attractive location to live and work in. Dubai’s range of yacht tourism facilities that meet the highest international standards combined with its diverse destination proposition and commitment to prioritising the health and safety of people has enabled Dubai to build a thriving global yachting community and offer leisure and adventure activities featuring the most modern watercraft. Dubai’s ability to provide residents and tourists memorable maritime experiences is a testament to our strong collaboration with our stakeholders and partners .”

Hamza Mustafa, COO, P&O Marinas, said: “The UAE has a diversified economy with tourism as one of its core pillars. Capitalising on this, the country has established itself as an exclusive, luxury yachting destination. At P&O Marinas, through our collection of sought-after yachting and coastal destinations, our sole purpose is to develop and promote Dubai as a comprehensive maritime hub and a global destination for marine tourism. Our assemblage of marinas is one of the most comprehensive in the Middle East, with a total capacity of 1,200 wet berths, 600 dry berths, and an ability to accommodate 60 superyachts ranging between 25m and 160m. In addition to this, we are continually working to ensure that the Emirate remains the epicentre for yacht and superyacht owners .

“ Moreover, as per a report from Research and Markets, the global yacht industry is projected to reach an estimated market value of USD84.7 billion by 2027, growing at a CAGR of 4.1 per cent. This growth will certainly project on the superyacht industry. We have sought to enhance the growth of the industry through The International Superyacht Summit 2021 that aimed to foster collaboration in the sector locally and globally .

“ Featuring world-class ports and superyacht berths with state-of-the-art facilities, the UAE has created the ideal conditions for the development of a thriving yacht tourism industry. Dubai offers attractive and competitive advantages including optimal berth spaces, dedicated support facilities and its strategic location along a beautiful coastline .”

Abdulla Binhabtoor, Chief Portfolio Management Officer of Dubai Harbour, commented: “Dubai Harbour is an extraordinary seafront district, set to further enhance Dubai’s standing as a world-class leisure destination. Dubai Harbour’s wide range of infrastructure and services have been carefully curated to deliver a premier, vibrant, and multifaceted marine experience. These include the Dubai Harbour Marinas – the region’s largest marinas – which can not only accommodate 700 berths but also offer the city’s first superyacht-dedicated marina that can house yachts up to 160m in length .”

“ In addition, the new opening of the Dubai Harbour Cruise Terminal, a state-of-the-art facility spanning over 120,000m² and comprising two purpose-built terminal buildings, will play a major role in positioning Dubai as a fully integrated global yachting hub. Dubai Harbour reinforces Dubai’s positioning as one of the world’s leading tourist destinations and is set to play a major role in rekindling the city’s connection to the sea, providing more options and easier ways for people to experience a once-in-a-lifetime nautical experience .”

The growth potential of the UAE’s yachting industry is demonstrated by the presence of world-class companies in the field such as Gulf Craft, manufacturers of luxury and superyachts and the opening up of more companies that are dedicated to promoting yacht tourism including The Yacht Brothers and Hero OdySEA. Demand for yachting has grown increasingly over the past year with yacht operators reporting an increase in bookings across day and weekend trips and new luxury boats and equipment have been added to their fleet .

Talal Nasralla, Chief Executive Officer, Gulf Craft, said: “With the yachting season in Dubai now in full swing, the UAE offers marine enthusiasts from all over the globe an unparalleled lifestyle experience. Thanks to the measures Dubai put in place to manage the effects of the global pandemic, and with attractions such as EXPO 2020, I think we can expect a very busy season ahead. There is so much the city has to offer visitors, from traditional Arabic culture and hospitality to incredible architecture, dining experiences and immaculate beaches. With Mina Rashid perfectly located in the heart of Dubai with capacity and facilities to cater for boats and yachts of all sizes, Dubai should be firmly on the itinerary for travellers looking for optimal weather and plenty to see and do .”

Dubai’s rapidly growing yacht tourism sector reflects its commitment to excellence. The exceptional offerings of companies in the sector include bespoke itineraries, superior amenities and water sports.   The Yacht Brothers, for example, operate a wide range of yachts from 56ft - 165ft and offer tours and water experiences from 2-500 people. The world’s first BVLGARI Yacht Club features a 50-berth harbour that enables both superyachts and local boat owners to anchor in the bay free of charge. These attractions build on the range of more traditional water sports that are already being offered such as jet skiing, wakeboarding and diving .

Isa Hijris, Chief Executive Officer and Co-Founder of The Yacht Brothers, said: “Our company is a family business run by two brothers, and we like to think that when you rent a yacht through us, we welcome you into our family. Not many businesses were formed during the pandemic, but we offered the people of Dubai an accessible, safe and luxurious domestic tourism option over the last 18 months. All our yachts are deep cleaned and sanitised between each trip to provide a secure environment for all our guests. As the world continues to open up, we are delighted to be able to bring a slice of the waterborne high life to customers from around the world via our hourly rental rates and an easy to navigate platform .”

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Sanctioned Russian oligarch yacht in Dubai as pressure grows

The Madame Gu superyacht, owned by Russian parliamentarian Andrei Skoch, is docked at Port Rashid terminal, in Dubai, United Arab Emirates, Thursday, June 23, 2022. The sleek $156 million yacht belonging to Skoch, a sanctioned Russian oligarch and parliamentarian, is the latest reminder of how the sheikhdom has become a haven for Russian money amid Moscow’s war on Ukraine. (AP Photo/Kamran Jebreili)

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DUBAI, United Arab Emirates (AP) — A sleek $156 million superyacht belonging to a sanctioned Russian oligarch and parliamentarian is now docked in Dubai, the latest reminder of how the skyscraper-studded sheikhdom has become a haven for Russian money amid Moscow’s war on Ukraine.

The 98-meter (324-foot) Madame Gu, which has a helicopter pad, gym, beach club and elevator, remained moored off Dubai’s Port Rashid on Thursday in what has become a test for the close partnership between the United States and United Arab Emirates.

The vessel, with an eye-catching blue hull and $1 million annual paint job price tag, is owned by Andrei Skoch, one of the wealthiest men in Russia’s Duma. A steel magnate, Skoch’s fortune is valued at about $6.6 billion, according to Forbes. Attempts to reach Skoch for comment were not successful.

Like sanctioned Russian billionaire Andrey Melnichenko’s Motor Yacht A docked in the northern emirate of Ras al-Khaimah , the appearance of the Madame Gu in Dubai shows how Russian oligarchs have parked their assets in the UAE even as Western governments increasingly enforce sanctions and American pressure mounts on its Gulf Arab ally to follow suit.

The U.S. Treasury first sanctioned Skoch in 2018 over his role in government and alleged “longstanding ties to Russian organized criminal groups, including time spent leading one such enterprise.” Earlier this month, the Treasury designated the Madame Gu, along with its helicopter, barring American entities from conducting business with the superyacht. Skoch is also sanctioned by the European Union.

The Madame Gu, registered in the Cayman Islands, flew an Emirati flag on Thursday when Associated Press journalists observed the ship — a show of wealth dramatic enough to rival the Dubai’s famed Queen Elizabeth 2 cruise ship-turned-hotel floating just beside it. It also was moored just next to the $200 million megayacht Dubai, owned by the city-state’s ruler, Sheikh Mohammed bin Rashid Al Maktoum.

Satellite photos from Planet Labs PBC show the Madame Gu at its berth at Port Rashid beginning from March 25.

The UAE, home to glitzy Dubai and oil-rich Abu Dhabi, has declined to take sides in Moscow’s war and welcomed the influx of Russian money to its beach-front villas and luxury hotels. The UAE’s Foreign Ministry did not immediately respond to a request for comment.

The invasion of Ukraine sent Russia’s richest businessmen and politicians scrambling to save their significant assets from what became a widening dragnet. Superyachts tied to Russian oligarchs have taken on outsized significance in the Western crackdown that aims to exert pressure on President Vladimir Putin to change course in Ukraine.

Authorities across Europe and elsewhere have seized yachts owned by sanctioned Russian billionaires on a U.S. sanctions list. Earlier this month for instance, the U.S. won a legal battle in Fiji to confiscate a $325 million Russian-owned superyacht.

Other U.S. allies, including Germany, the United Kingdom, France and Italy, are involved in trying to collect and share information with Washington against Russians targeted for sanctions, the White House says.

One of a shrinking number of countries where Russians can still fly directly, the UAE has chosen not to impose sanctions on Moscow or freeze the assets of Russian billionaires relocating to the emirate.

An apparent influx of superyachts and private planes tied to Russian’s wealthy so far have avoided scrutiny in a country that has long been a magnet for foreign money — legal and otherwise .

But their increasingly visible presence appears to be frustrating Washington.

This month, a U.S. court ordered the seizure of two aircraft worth over $400 million believed to be owned by sanctioned Russian oligarch Roman Abramovich. The former Chelsea soccer club owner’s Boeing 787 Dreamliner is now in the UAE, the court filing said.

In a House hearing Wednesday, U.S. Assistant Secretary of State for Near Eastern Affairs Barbara Leaf acknowledged the UAE had become a safe haven for Russian oligarchs linked to Putin.

“I’m not happy at all with the record at this point and I plan to make this a priority to drive to a better alignment, shall we say, of effort,” said Leaf, who once served as an ambassador to the UAE.

Deputy Treasury Secretary Wally Adeyemo, one of the main U.S. coordinators on the Russian sanctions strategy, visited Dubai and Abu Dhabi to meet with Emirati financial officials this week.

During a banking round table, he pleaded for increased vigilance.

“Despite this commitment (to prevent money laundering), the UAE — and other global financial hubs — continue to face the threat of illicit financial flows,” he said, according to readout from the Treasury Department.

Adeyemo warned of challenges that have emerged amid the war on Ukraine “for both governments seeking to hold Russia accountable and for financial institutions like yours that are responsible for implementing the financial sanctions we impose.”

Associated Press writer Jon Gambrell in Dubai, United Arab Emirates, contributed to this report.

The $300 million, 290 foot-long superyacht of Russia's wealthiest oligarch has been spotted docked in Dubai

• A superyacht linked to Russia's wealthiest oligarch was spotted in Dubai, AP News reported.
• Nirvana, owned by nickel tycoon Vladimir Potanin, is said to be worth $300 million.
• Potanin has not been sanctioned by the West, but has close ties to Russian President Vladimir Putin.

A Russian oligarch thought to be the country's wealthiest man is the latest rich citizen to move a superyacht to the billionaire haven of Dubai amid scrutiny on those tied to Putin.

Associated Press journalists spotted the yacht Nirvana, which belongs to nickel tycoon Vladimir Potanin and is said to be worth $300 million, at Dubai's Port Rashid on Tuesday. 

Potanin, who is the CEO and majority shareholder of the world's largest producer of refined nickel, Nornickel, has been known to take vacations and play ice hockey with Russian President Vladimir Putin.

Related stories

Despite his close ties to Putin, Potanin has not been listed on US, EU, or UK sanctions lists. 

Still, the oligarch is now one of several wealthy Russian individuals who have transferred major assets to Dubai.

The UAE has taken a neutral stance on the conflict in Ukraine and has not imposed sanctions on elite individuals with ties to Putin. By moving their yachts to Dubai , individuals are putting them beyond reach of sanctions from the west. 

Government officials in Dubai have told Western allies that sanctioned individuals are not allowed to do business in the country, The Financial Times previously reported.

Potanin's luxury vessel, Nirvana, now sits close to a $156 million superyacht belonging to billionaire Andrey Skoch, which was spotted in Dubai last Thursday, per AP.

A $300 million superyacht belonging to Russian oligarch Andrey Melnichenko was also spotted in the UAE earlier in June. 

The 290-foot Nirvana yacht has a six-person lift, a terrarium for exotic reptiles, and a 7.5 meter swimming pool, according to its manufacturer, Oceanco.

Potanin is the 33rd richest person in the world, with a net worth of $37.1 billion, according to Bloomberg Billionaires Index. 

Insider contacted Vladimir Potanin for comment but did not immediately hear back.

Watch: The rise and fall of Russian oligarchs

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Dubai International Boat Show 2024 to converge the world’s leisure yachting industry for landmark 30th edition

• Middle East’s largest marine lifestyle show celebrates three decades of global seafaring success at iconic Dubai Harbour 
• His Excellency Saeed Hareb: “It has been incredible to witness the show’s growth and enduring power to unite the global maritime industry in Dubai”

Dubai, UAE – 16 February 2024: Dubai International Boat Show (DIBS), the largest, and most established marine and lifestyle event in the Middle East, is readying its anchor ahead of docking at the iconic Dubai Harbour district from 28 February – 2 March 2024.

Celebrating its landmark 30th edition , the UAE’s most extravagant international boat show will feature more than 1,000 brands and 200+ boats from globally renowned shipyards including Azimut, Sunseeker Gulf, Gulf Craft, Finnmaster, HP Watermakers, Oceano and Althaus Yachts.

With 46 boat launches planned for this year’s event, Dubai International Boat Show, organised by the Dubai World Trade Centre (DWTC), continues to build on a three-decade legacy of hosting the world’s largest marine brands in Dubai and providing a sales and networking platform of paramount importance for the largest homegrown manufacturers and global distributors.

IMG Boats is set to make three global launches at the show, while Riviera Boats and Al Fajer are preparing to launch two new boats each. Regional launches are expected from SF Yachts, Williams Tender, Ferretti and many more.

At the event’s press conference, His Excellency Saeed Mohammed Hareb, Secretary General of Dubai Sports Council and Senior Advisor to the Dubai International Boat Show, said: “As the Dubai International Boat Show embarks on a new chapter in its illustrious history for its 30th edition this year, the event continues to be a comprehensive platform for premiering innovations and welcoming new maritime companies and brands into the local industry.”

“Having been part of the show since its inception, it has been incredible to witness the show’s growth and enduring power to unite the global maritime industry in Dubai, which is now a magnet for global yachting tourism.”

International superyacht builders anchor in Dubai amid swelling luxury boat market

Amplifying its global attraction and reach, the 30th Dubai International Boat Show will welcome exhibitors from more than 55 countries , including four debut nations – Austria, Finland, Sweden and the Republic of Korea.

Leading superyacht manufacturers feature heavily among the 200-plus crafts at the show, including nine members of the Superyacht Builders Association Members (SYBAss), highlighting the event’s commitment to foster representation from the world’s leading shipyards.

The Middle East is currently home to 12.6 per cent of the world’s superyacht fleet while the luxury yacht market is projected to grow in value from US$306 million in 2022 to US$481 million by 2028. With Dubai’s High Net Worth Individuals (HNWI) population projected to increase by 39 per cent by 2026, Dubai International Boat Show will play a transformative role in accelerating sales across the regional and international yachting industry.

A total of 400 new companies and brands will join legacy exhibitors at the prestigious annual gathering, including MTM Marine, which will display the Sea-Doo Jet Ski; Cigarette Racing Team, which will launch a new racing yacht from the USA; and Baglietto, a newly-established SYBAss member.

Long-standing partners to showcase most-loved, iconic luxury yachts

For 30 editions, Dubai International Boat Show has traditionally served as a regional and international launchpad for the world’s most luxurious yachts.

Accompanying His Excellency Saeed Hareb at the press conference were Abdulla Binhabtoor, Chief Portfolio Management Officer at Shamal Holding, the owner and curator of Dubai Harbour; Nouman Al Hakim, Chief Operating Officer at Al Ameeri Group Holding; Abeer Al Shaali, Deputy Managing Director of Gulf Craft; Brett Noble, Co-Founder, Sunseeker Gulf and Bush & Noble; Asma Al Sharif, Assistant Vice President, DWTC; and Trixie LohMirmand, Executive Vice President, DWTC.

Shamal Holding’s Bin Habtoor said: “We are honoured to be celebrating the 30th anniversary of the Dubai International Boat Show and take pride in being part of its story. Our premier and multi-faceted district is the ideal home for the Dubai International Boat Show, the industry’s most established leisure maritime event.

“Anchored by the region’s largest marina, with the only dedicated Super Yacht Marina, Dubai Harbour provides the perfect environment and superior facilities for yachting enthusiasts and investors from around the world.”

UAE-based Gulf Craft is one of the world’s leading shipyards and manufacturers of luxury yachts, superyachts, leisure and utility boats.  Deputy Managing Director Al Shaali said: “We are looking forward to the 30th edition of the Dubai International Yacht Show, which holds significance as our home show for Gulf Craft. This year, we are preparing to showcase a variety of vessels, including new launches and brand developments.

“The extended location at Dubai Harbour is an interesting change, and we anticipate it will attract a good number of spectators. We also acknowledge the growing interest in yacht tourism and buyers in the Middle East, which we hope will be reflected at the event. It’s a significant moment for Gulf Craft and the yachting industry in the region.”

Kuwaiti-headquartered Al Ameeri Group Holding will meanwhile dock with three major luxury and superyacht manufacturers in attendance. “As exhibitors at Dubai International Boat Show since the very beginning, we recognise the impact the event has had on furthering the regional maritime sector,” commented Al Ameeri Group’s Al Hakim. “This year we will showcase five of our best-loved yachts, including the Azimut 53 Fly for the first time, along with the Middle East premiere of Azimut S7.”

As the official distributor of Sunseeker yachts across the GCC, which has four regional premiers to reveal, Sunseeker Gulf and Bush & Noble’s co-founder Brett Noble added: “The Dubai International Boat Show has demonstrated immense maturity and growth since its inception.

“As a premier British boat builder with performance in our DNA, we are utilising the event as a springboard to revitalise our brand in the market, maximising the city’s expectation to grow and attract more HNWIs and UHNWI. We will display four very different models as a Middle East premiere – 88 Yacht, Manhattan 68, 65 Sports Yacht and Manhattan 55 – that are all made in the region, for the region, with Gulf-specifications to meet customer demand and improve onboard comfort.”

Spotlight on sustainable maritime missions in revamped conference programme

Dubai International Boat Show 2024 is also set to spotlight wider domestic and regional sustainability efforts, including the pioneering Dubai Reef project, announced at COP28 under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai.

As one of the world’s largest marine reef developments, the initiative will contribute to Dubai’s sustainability goals as well as the ongoing acceleration of the emirate’s maritime sector and related sub-sectors.

The annual Dubai Boat Show Leisure Yachting Conference, taking place on February 27, will act as the official curtain raiser for the Dubai International Boat Show, bringing more than 100 key industry leaders from across the globe to deep dive into topics including innovation, regulation, sustainability, and the future of the sector.

The Dubai International Boat Show will set sail from February 28 to March 3, 2024, at the Dubai Harbour. The landmark 30 th edition of the event offers an unparalleled platform for industry professionals, and boating, marine and luxury lifestyle enthusiasts to explore the latest trends and innovations in the maritime world.

Trixie LohMirmand, Executive Vice President, Dubai World Trade Centre (DWTC), said: “Our most transformative edition yet, this year’s Dubai International Boat Show will see a gathering of maritime investors, experts and enthusiasts looking to foster collaboration and further the regional maritime industry.

“Honouring a milestone 30th edition, the show aligns with Dubai’s continued evolution as a worldwide leading yachting destination and evidences the emirate’s commitment to driving sustainable practices in the industry by spotlighting changemakers and providing a critical platform for innovation.”

For media registration, please click here .

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Yacht builder to the stars capitalises on Dubai boom with new boatyard

Sunreef, which counts rafa nadal and fernando alonso among its clients, could soon employ 2,000 people in ras al khaimah.

Work has started on Sunreef Yachts' new factory in Ras Al Khaimah that will produce its catamaran range. Photo: Sunreef

Related: Dubai International Boat Show sails into town with $1.5bn worth of vessels

Multimillion-dollar, custom-made yachts for the rich and famous will soon be built in Ras Al Khaimah.

Construction has begun on a factory that will build sleek, 55-foot and 70-foot twin-hull boats to supply a growing demand in the Middle East and Asia.

Francis Lapp, founder and president of Sunreef Yachts, says his ambition for the new Dh100 million ($27.2 million) shipyard is to eventually be the same size as the company’s facilities in Gdansk, Poland, which employs 2,000 people.

Even before the factory opens in September, work has begun on securing orders from buyers around the world, including Dubai, Saudi Arabia and Qatar, for bespoke, high-end catamarans with inbuilt solar panels.

“From this facility in Ras Al Khaimah, we can deliver boats everywhere,” Mr Lapp told The National aboard his 80-foot yacht anchored in Dubai’s Palm Jumeirah marina.

“This is the right place to start something new. When finished, it will be the same size as we have in Poland eventually.”

The plan is for Sunreef's superyachts — which are longer than 24 metres or 78 feet and typically need a crew — to be built in Poland and the mid-range catamarans to be constructed in the UAE.

The price for compact 50-foot vessels to spacious transatlantic 140-foot yachts ranges from $2 million to $50 million.

“We are looking at new customers, not only in China, Australia, Singapore and Asian countries, but also in the Middle East, Bahrain, Qatar, Kuwait, Oman and Saudi Arabia,” the French entrepreneur said.

“Fifty per cent of the sales will be only for the region.

“In Ras Al Khaimah, we will build a totally new line that we will announce later.”

Floating holidays for the stars

Tennis star Rafael Nadal, Formula One champions Fernando Alonso and Nico Rosberg, and Spanish singer Julio Iglesias are among some of Sunreef’s most famous clients .

What comes in each yacht's luxurious interior depends on the buyer’s choice. Many include jacuzzis, a gym and a treadmill on the upper deck, while the bedrooms can come with floor-to-ceiling ocean-view windows.

The luxury yachts — often described as floating villas — have lounge areas that double as outdoor cinemas and walkaround paths that skirt the boat.

Extravagance was the draw when the yacht business boomed during the Covid-19 pandemic , as the wealthy looked for holiday options away from crowded tourist spots.

“The first two months of the pandemic, we sold nothing. It was difficult,” Mr Lapp said

“Then [for] two years of the pandemic, we had 50-60 per cent more sales than in the normal times.

“People understood the pandemic would not be for two-three months, it will be for a longer time so they bought boats to be safe for their holiday.

“People wanted a different holiday — not in hotels but on boats.

“Now after the pandemic, we will continue [to have good sales] — maybe not at the same concentration.”

Buoyant market brings boatbuilder to Ras Al Khaimah

Mr Lapp has been living in Dubai for the past two years.

He moved his base from Poland to Palm Jumeirah and travels daily to Ras Al Khaimah to check on the progress.

“I live in Dubai now because I want to be close to the factory,” Mr Lapp said.

“I am 64 years old. A lot of my friends have stopped work, but for me, it’s a challenge to do something new.”

Training begins

Master builders from the main factory in Poland are training 60 workers from countries including Sri Lanka and India in a rented space near the RAK Maritime City Free Zone.

Inside the high-ceiling space, the builders work on preparing sections of fibreglass frames that will be used in various sections of the yachts — from the fly bridge to the mast.

This is the first overseas facility for the Polish company, which Mr Lapp founded 21 years ago.

The two sites in Poland on the Baltic Sea build about 45 boats a year.

The new facility in Ras Al Khaimah is spread over 65,000 square metres. It will employ about 400 people after the first three months and increase to 1,000 by the end of next year.

On site, workers in cranes are readying the main building. Construction will soon begin on a woodwork unit and on a building to house the machine to make moulds for the boats.

“This is the beginning,” Mr Lapp said. “Two thousand [staff]? That is my dream for the next three-four years.

“I want to have the same size of factory, to build the same big boats as in Poland.”

Quiet cruising

He aims to tap into the growing demand for solar boats that give owners quiet, green cruising instead of noisy diesel engines.

The boats utilise energy from the sun across a “solar skin”, with photovoltaic panels built into the hull and across the mast to not only power the yacht, but also run air-conditioning, heating and cooking units.

“Half of our sale is in solar,” he said.

“I see people interested in solar in this region. [Business] people want clients to see they are thinking of the ecosystem.

“We are in a country where you have petrol but people’s demand is changing.

“They don’t want big tanks with fuel and the [fuel] smell on the boat.”

New RAK terminal

Ras Al Khaimah Port Authority said the facility was part of major expansion plans that include a new terminal.

“We are undertaking a massive port development and expansion programme to create a new terminal facility,” said Ankush Vohra, business development manager of RAK Ports.

“Our free-zone customers have direct access to quayside facilities, enabling them to secure large-scale, global projects that can be built in our free zone and then exported directly from Ras Al Khaimah.

“This was one of the major attractions for Sunreef.”

Poland has a long tradition of shipbuilding and Mr Lapp was a pioneer in the country's luxury yacht business.

His ambition is to do similar for the UAE in the high-end catamaran sector.

The Middle East has a special significance for Mr Lapp, who worked in a company that built hospitals in Saudi Arabia in the 1980s.

“I am proud of what we are doing here. I like this [region] from when I was young. My heart is in these Arabic countries,” he said.

“Now I’m happy to come back and to build something new.”

The UAE Today

The latest news and analysis from the Emirates

Trump Says He’s Privately Decided Who His Running Mate Will Be

(Bloomberg) -- Former President Donald Trump said he’s made up his mind on who he’ll select as his vice presidential nominee - but hasn’t told the Republicans vying for the position his decision yet.

Trump said during a stop Saturday at a cheesesteak restaurant in Philadelphia that his running mate would be attending next Thursday’s presidential debate in Atlanta, according to an NBC News reporter at the event.

While his showdown with President Joe Biden doesn’t have an audience, many of the top vice presidential contenders - including North Dakota Governor Doug Burgum, Senator Marco Rubio of Florida, and Senator JD Vance of Ohio - are expected to attend a watch party hosted by Trump’s campaign.

The presumptive Republican presidential nominee has previously said he would announce his choice at or shortly before the Republican National Convention, which begins July 15 in Milwaukee.

But Trump may decide to make the announcement earlier, in part to distract from coverage of his July 11 sentencing on 34 felony counts in a New York hush money case.

The campaign has ratcheted up preparations for after Trump’s running mate is chosen. It has rented a private jet for the vice presidential candidate between July to November, according to a person who requested anonymity to discuss the efforts.

The choice will be a major decision for the former president, who is seeking to expand his electoral coalition amid public opinion polls that show voters were disappointed with both candidates. Trump was in Philadelphia on Saturday to appear at a rally on the city’s north side, traditionally a Democratic stronghold.

Trump broke with Mike Pence after his former vice president announced that he didn’t believe he had the constitutional authority to block certification of Trump’s loss to Biden in 2020.

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Everything you need to know about Dubai International Boat Show 2024

In a report by renowned consultancy Knight Frank, Dubai anticipates a staggering 39 per cent surge in its ultra-high-net-worth individuals (UHNWI) by 2026. Asserting its status as a premier destination for UHNWI and global tourists, Dubai International Boat Show (DIBS) , the region’s largest marine lifestyle exhibition, stands as a testament to the city's popularity. Celebrating its 30th anniversary this year, the global marine industry will descend on Dubai Harbour from 28 February to 3 March 2024, offering a spectacular backdrop for yachts up to 160 metres LOA and emphasising themes of marine sustainability and cutting-edge technologies.

What’s on at Dubai International Boat Show 2024?

Organised by the Dubai World Trade Centre (DWTC), DIBS 2024 promises a dynamic showcase on both land and water, featuring hundreds of luxury yachts for visitors and investors alike. As a pivotal event in Dubai's yachting sector and annual calendar, DIBS offers valuable networking opportunities and a glimpse into the future of marine technology and design.

Over 1,000 brands are set to converge at this five-day extravaganza, with 200 boats expected on display, including premier shipyards such as Azimut , Cranchi , Gulf Craft , Ferretti , Princess , Sanlorenzo , Sunreef and Sunseeker . The international exhibition serves as a comprehensive platform for unveiling innovations, introducing new launches and fostering business prospects with global leaders and pioneers from across the Middle East and North Africa (MENA).

The 30th edition will once again host DIVE MENA , an exclusive show for the UAE and GCC diving community, along with a networking evening for captains and a celebration of local talent through the Proudly UAE initiative, honouring the country’s rich maritime heritage.

Supercar Avenue will showcase an exclusive lineup of the world’s most coveted cars, while the Marine Art Gallery will present a unique collection of sea-inspired pieces crafted by internationally renowned artists.

“VIP guests have the chance to go behind the scenes of the region's best-loved boat show for a bespoke AAA tour of the most premium selection of luxurious yachts, this platform redefines expectations,” says Trixie LohMirmand, executive vice president of the Dubai World Trade Centre. “Complementing this prestigious showcase, there is also an exclusive VIP lounge, where A-listers and industry experts meet and mingle in a luxurious lounge environment.”

The annual Middle East Yachting Conference (MEYC) is set to kick off the festivities on 27 February, providing a platform for yachting professionals and enthusiasts to delve into the industry’s most pressing topics and unify the entire sector.

Unmatched business opportunities

DIBS annually encapsulates the MENA region’s enviable position as one of the richest yachting landscapes globally, boasting the second-highest fleet-to-billionaire ratio. Currently home to 12.6 per cent of the world’s superyacht fleet, forecasts predict substantial expansion, with the luxury yacht market projected to grow from US$306 million in 2022 to an estimated US$481 million by 2028.

Dubai's allure extends beyond the yachting industry, with global investors and entrepreneurs increasingly choosing the city for their growing businesses and projects. The emirate’s attractive ecosystem for start-ups and entrepreneurs, long-term residency scheme, impeccable infrastructure and dynamic calendar of events contribute to its worldwide appeal.

“Exhibitors at Dubai International Boat Show 2023 unanimously reported strong lead generation and sales over the five-day event,” explains LohMirmand. “The Italian-headquartered Sanlorenzo Yachts closed three deals for a total value of AED 390 million (EUR 100 million), while Yachts 1, the official dealer of Princess Yachts, Sanlorenzo, Cranchi, SEABOB, Al Dhaen and Williams Jet Tenders, converted five deals valued at AED 78 million (EUR 20 million).

Shaping the future of yachting

Dubai’s global significance as an aspirational destination and power hub was reinforced when it hosted the UN Climate Change Conference, COP28, in late 2023. The conference concluded with a historic agreement to move away from fossil fuels across all sectors, including the marine industry.

“With the increased awareness of global sustainability challenges, there is a growing demand for sustainable investment as it not only contributes to positive global outcomes but also offers investors the potential for financial returns, risk mitigation and alignment with personal values,” says LohMirmand. “Key exhibitors such as Sunreef Yachts have confirmed they will bring all-electric yachts to the show to push the electric transition forward with Francis Lapp, the founder and president of Sunreef Yachts, highlighting that DIBS is a wonderful opportunity to promote a cleaner boating experience. Visitors can witness how luxury and sustainability can be combined.”

Tourism boom

Events like COP28 and DIBS have contributed to significant growth in the UAE's tourism sector, with hotel revenues reaching AED 32.2 billion up until September 2023, reflecting a growth rate of 27 per cent compared to the same period in 2022.

“Dubai International Boat Show underlines this region’s passion for the maritime sector and Dubai’s ability to host events that bring the world together,” LohMirmand adds. “Growing from humble beginnings in 1992 to the internationally renowned experience that DIBS will be again in 2024 demonstrates how the show has developed alongside the unstoppable evolution of Dubai.”

To witness the world’s most coveted yachts, engage with industry experts and explore the future of yacht design, secure your tickets now for Dubai International Boat Show 2024.

Sponsored content created for Dubai International Boat Show