New Abu Dhabi marque aims for 400 boats per year

by Jeni Bone on 24 Mar 2009 Investors in Abu Dhabi have launched a new marine company with a target of manufacturing 400 leisure boats a year despite the current economic slowdown, where active companies are cutting costs by holding or cancelling their projects and cutting manpower.

The new company, a three-way joint venture called Emocean Marine, was launched during the Abu Dhabi Boat Show claiming to have an initial capital of US$10 million (Dh36.7m) by three groups of investors – Phoenix Group, Senaat and Ali Al Naqbi, a business leader who chairs the company.

The company, headquartered in Abu Dhabi, has already acquired the land for a 20,000 square metre manufacturing site in Icad Two (Industrial City of Abu Dhabi Two). The manufacturing site, according to the company Managing Director, Hamad Kassab Bachi, will be operational by June this year.

'It will be a complete integrated company with all marine services from boat building to maintenance and all related services, including providing catering onboard to our clients. We have already rolled out our first product, a leisure boat called Voodoo27, which will be unveiled at the Abu Dhabi Yacht Show,' he said.

Voodoo27 will be a luxury day boat featuring a host of state-of-the-art facilities and amenities usually reserved for much larger vessels, all of which are fitted as standard.

Conceptualised in Abu Dhabi, the project was developed in Milan, in a project in which some of the biggest names in boat building were involved.

'We wanted to bring a product onto the market that would astound even the most discerning of boating enthusiasts without overwhelming or going over the top,' said Emocean Marine chief operating officer Alberto Nencha.

'With Voodoo27, we feel we have achieved exactly that, capturing the essence of the yachting lifestyle in a day cruiser.'

About the capacity and price range of the company boats, Bachi said initially Emocean Marine has a target of manufacturing 400 boats a year with prices ranging from Dh195,000 to Dh280,000. 'With the market demand rising, we expect to increase our capacity and introduce more different models that will be marketed not only in the UAE, GCC and Middle East, but beyond,' he said.

According to Bachi, the offerings of the company go beyond its product line to include an array of services such as Emocean Butler, a boat care and preparation service to keep boats ready complete with laundry and catering. Bachi said the firm will be expanded further with franchised manufacturers in Europe and other nations for their brands and to help avoid shipping costs.

Chairman Al Naqbi was extremely upbeat about the local economy, saying: 'While other parts of the world are expecting recession, we are looking to expanding our investments.'