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21 February 2024

Dubai floats new luxury: boat for price of car

By Waheed Abbas

Owning speed boats used to be the domain of the affluent. Not anymore. Now UAE residents can fulfill their dream of owning a boat at a price of a mix-luxury sedan car.

Those who wish to buy a speed boat and join the affluent club, will have to pay an estimated monthly installment of roughly Dh4,000 to Dh5,000  - which is equal to a mix-luxury sedan car in the UAE.

Toby Scruby, General Manager, Al Futtaim Marine, says price for boats starts from Dh150,000 and goes up to Dh286,000 for a 23-foot boat.

“Our real focus is on yachts of Dh150,000 to Dh280,000 where we see monthly payment achievable by most people here. So for a boat of Dh200,000, we’re looking at repayments of roughly Dh4,000 to Dh5,000 a month depending on how much you put as down-deposit, which, I think, for most people is doable and justifiable on monthly basis in return for the experience and memory that they get of owning a boat.”

Al-Futtaim Marine, a subsidiary of Dubai-based well-diversified conglomerate Al-Futtaim Group, recently tied up with Larson, which manufactures boats at affordable prices.

Al-Futtaim Marine is a relatively new company in the region, launched two years ago at the 2012 Dubai Boat Show, and contributes to all aspects of marine industry from services to boat sales, showrooms, finance and consultancy.

“We have built the company predominantly on after-sales. We’ve very strong after-sales team in place which specialises in looking after sales of our own brands which are Larson and Heesen. We have grown steadily over the last two years and are very much on track towards where we want to be,” said Scruby.

The Al-Futtaim subsidiary is participating in the Dubai International Boat Show, which begins today at Mina Seyahi. More than 430 boats valued at Dh1.8 billion will be displayed at the 22nd edition of the show.

The company has also launched “Get on Water” campaign to spread awareness and experience the fun side of boating.

“We try and encourage people to come and try to remove any fears or concerns they may have about owning a boat. A lot of people think it’s expensive and a hassle to own a boat. We’re trying to educate everybody to understand that these elements of concerns are not too much to be worried about as we will take their headache away. The campaign targets families and people who’re young at heart and want to secure memories or even those who own a boat,” Scuby added.