UAE boat builder Al Marakeb sales doubled in the first quarter of this year, selling 18 vessels since January 2014 compared to 9 in Q1 2013, said a press statement.
“Al Marakeb is experiencing year-on-year growth resulting from an increased demand for centre-console multi-purpose vessels, both here in the UAE and in markets abroad,” said Basel Shuhaiber, Founder and Managing Director, Al Marakeb.
“Global economic conditions are improving and this has led to more owners now prepared to invest in a boat for their recreational activities or to add to their existing fishing fleet and expand their business,” he added.
Al Marakeb’s sales figures related to a 100 percent increase in revenue turnover for the same period last year. As a result of orders placed by customers at last November’s Dubai Pre-Owned Boat Show, where Al Marakeb showcased three of its value-for-money craft, the company further expanded its production facility. It increased its factory floor space and also took on more staff, including specialist boat engineers, to meet the high demand in production.
Approximately 60 per cent of Al Marakeb’s sales are for the local market, with 40 percent of its vessels finding a home abroad. The company supplies boats to private and commercial buyers, with its current network extending into the Sultanate of Oman, other GCC states, North Africa and Asia. One of its largest markets in Africa recently has been Angola, with a number of vessels being sold to entrants in popular African fishing tournaments.
“Al Marakeb vessels are proving popular for leisure and sports fishing, as well as for commercial fishing and as family boats. We make buying an Al Marakeb boat an enjoyable experience and our vessels are popular because they require minimal maintenance and are easy to operate,” said Shuhaiber.
Looking forward to the rest of 2014, Al Marakeb aims to continue capitalising on the improving economic outlook by further expanding its production capacity, consolidating its position in the local market and growing its reputation in Africa. The company says that it also has plans to look into UAE government tenders, as it feels ideally equipped to play a role in this sector.
“Al Marakeb has a number of plans and initiatives that see us in line for an exciting 2014. Africa is a particularly important growth market for us, so we will have a special focus on that area for expansion,” said Shuhaiber.
“In addition to increasing our production capacity to meet demand both here and abroad, we will be examining the vessel requirements of authorities here in the UAE with a view to tendering for contracts. We believe that the specification of our boats and their economical prices makes Al Marakeb an ideal fit with government projects,” he added.