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Opinion
I’m in Dubai, a desert boomtown emerging on a scale unprecedented in modern history, perhaps in all of history.


Underway: The Boom Heard Around the World

Outside it’s about 85 degrees Fahrenheit. I walk into the marble-clad shopping mall and am drawn to the large picture window where I see skiers all dressed alike, bombing down an artificial mountain. I know it’s silly, but I have the urge to join them. I live in Vermont. Is it really necessary for me to go skiing indoors on man-made snow, I wonder?

I purchase a lift ticket and stand in line for my winter outerwear, boots and skis, which are included with the price of admission. I enter a veritable winter wonderland covered in 6,000 tons of snow. In a space of about 237,000 square feet, there are five ski runs. The temperature is a brisk 28 degrees. I board a chairlift and ride to the summit of the 1,300-foot "mountain" and spend the morning skiing.


The Azimut 103S steams past Dubai’s Burj al Arab Hotel. Photograph by Manfredo Pinzauti-Grazia Neri. (Click image to enlarge)


I’m in Dubai, a desert boomtown emerging on a scale unprecedented in modern history, perhaps in all of history. In addition to building an indoor ski mountain, this United Arab Emirate is creating a spectacular high-rise skyline with what will be the tallest building in the world—the Burj Dubai—and several artificial reclaimed-land islands in the Persian Gulf complete with residences, resorts and numerous superyacht facilities. Its ruler, Sheikh Mohammed bin Rashid Al Maktoum, is completing what is the largest private yacht in existence.

Dubai is the new Mecca for money—for making it and for spending it—and its residents don’t seem to be shy about spending their money on yachts.

It seemed surprising to me at first that Azimut would choose Dubai as the place to launch its new 103S. But after visiting the emirate for the second time in two years, I am awakening to the fact that yachting is playing a big role across the Middle East. Island Global Yachting (IGY), a company building megayacht marinas around the world, tells me that while there are currently 3,000 yacht slips in Dubai, in five years there will be 30,000, many of which will be capable of handling the surge of large vessels currently jamming building sheds around the world.

Paolo Vitelli, CEO and president of Azimut, says this area is the fastest growing market for the brand, with 12 percent of all his company’s sales originating there. In keeping with the "think big" character of the region, ART Marine, Azimut’s Dubai-based dealer, hosted a spectacular event for the launch of the 103S, complete with dancers encapsulated in water-borne bubbles, laser light shows, fireworks, and a pop singer and her band. I imagine the next time I return to Dubai the offshore Palm Islands and World developments will be completed and there will be a yacht in front of every villa.

The Wall Street Journal, The Miami Herald, CNBC and other media outlets keep calling on me to find out where the burgeoning crop of new superyachts being built is going. IGY and many other wise marina developers are including large-yacht facilities in their plans. It may take awhile for supply to converge with demand, but it’s happening.

Just before heading to Dubai, I was checking out the Bahamas on a charter aboard the 115-foot sailing yacht Tenacious. The Exumas are pristine and pure, with sand as silky as a sow’s ear. Coincidentally, part of our entertainment on the trip included watching pigs swim out to meet our dinghy—a first for me. Even in sleepy George Town there are plans at February Point and Crab Cay to build more marinas, again with large-yacht facilities.

Throughout the Bahamas, the Caribbean and the U.S. East Coast, new marinas are popping up all the time. At our ShowBoats International Awards Rendezvous in Monaco in June, the principality’s Port Hercule was maxed out with superyachts. No doubt developers with vision are plotting ways to expand capacity there, too, to handle the boom. Maybe in a decade we’ll see 200-footers stacked like dinghies in a shed—perhaps astride an indoor ski slope.