Throughout the Middle East a new trend for seafront developments and man-made islands, retaining luxury real-estate projects are undergoing rapid development. Multi-billion Dollars worth of marinas and waterfront real estate projects are luring the wealthy from all over the world, outstripping supply.
In-step the marine industry in the Middle East is witnessing unprecedented demand. Lebanon, the UAE, Qatar, Egypt, Kuwait and others have commenced massive marina and seafront projects and more are on the drawing boards. In-turn, rapid marina development is generating ever greater numbers of marine sports enthusiasts, fuelling demand for new boats. The region currently captures over 20% of market share of super yachts sold worldwide, now set for further increases.

Investors pouring billions of dollars into marina and seafront development in Lebanon and the region. Seafront developments include man-made islands and marinas:

• The Palm Islands, the world’s three largest man-made islands off coast of Dubai is comprised of the Jumeirah Palm which includes hotels, villas and shoreline apartments, the Palm Jebel Ali and the Palm Deira, an 80 km2 project.
• Palm Deira, the residential and touristic islands in the shape of palm tree, is being developed by Nakheel. The construction of the $4.36 billion artificial island has started by the end of 2005.
• Dubai Maritime City is a 25 million square feet man-made peninsula. It will be the first maritime development of its kind, catering to a diverse international maritime audience.
• The Dubai-headquartered Waterfront Company, owned at 51% by real estate giant Nakheel, acquired a 193,655 sqm land in Dbayeh, on the Lebanese coast north of Beirut, in order to develop a $250 million tourism project expected to be an integrated resort of residential and commercial buildings.
• The $2.5 billion Pearl-Qatar is one of the most adventurous construction projects in the Middle East designed to include the latest in residential, tourism and retail facilities.
• Named in Arabic after the historic Italian city, Venice, the multi-billion USD Al Bundoquia Islands will be built along Saudi Arabia’s Red Sea coast, 26 kilometers south of Jeddah, extending over nearly 21 square kilometers. It will include hotels, resorts, marinas and other facilities.
• Kuwait’s Tamdeen Real Estate Company is developing the new Al Kout waterfront development project at Fahaheel in the south of the country. This 200,000 square metre mall includes a four screen cinema, food court and marina.

• The ‘King Abdullah Economic City’ to be built at a pristine location off the Red Sea, an investment of $26.6 billion. The City is a mixed-use development located north of Jeddah. Central to the mega project is the creation of a 2.6 million square meter new Millennium Seaport similar in size to the world’s top 10 ports. Apart from many mega components, three residential districts form the fifth component of the new City. The second district will have a corniche as its main theme. It is in keeping with this concept that the district will ‘curve’ around a worldclass marina and yacht club with 450 boat moorings.
• Lusail Development is a $5 billion luxury residential and mixed-use project in Qatar with extensive recreational facilities including two golf courses and a lagoon with two marinas. The project will cover over 35 square kilometers, can accommodate up to 200,000 people and will be completed in 2010.

• Palm Jebel Ali island in Dubai will include six marinas.
• To encourage cruise ships to arrive/depart from the seaside community of Jebeil (Byblos) in Lebanon, a new port is being developed that will handle larger ships, as well as mariners for yachts to be anchored and rented.
• The $2.5 billion Pearl of the Gulf will be the home of many marinas.
• Several marinas will be constructed in Dubai Maritime City.

• Marina projects worth more than $1.5 billion are underway on the costal line of Lebanon starting from the South to Beirut up to the North.
• The KOC Small Boat Harbour, Salmiya Marina, Ras Al Ard Marina and Sharq Marina in Kuwait will house many marinas.
• The Wave in Oman
• The Two Seas project in Bahrain
• Al Bundoquia in Saudi Arabia
• Lusail Development in Qatar

For the second time, marine industry decision-makers will converge on a conference organized by the Arab Marine Industries Association (AMIA) in collaboration with The World of Boats and Yachts magazine concurrently with the 2006 Beirut Boat show.

The conference will be the right time and place for professionals and decision-makers involved in the development of sea front projects to discuss the latest developments, issues, technologies and solutions through knowledge and network development. Keynote speakers at the conference will address the key aspects involved in marina design, management and operations, as well as available opportunities, expertise and technology.

Conference attendees will seize the opportunity to highlight the economic benefits of the undergoing and planned seafront development projects in Lebanon, and the multi-billion dollars projects in Dubai, Doha and Kuwait, cities that are hosting several man-made islands and marinas.
Debate will also center around the need for government industry-supporting legislation, notably investment, insurance, and commercial laws to protect local and international private investors.

The conference, which was sponsored by EMAAR, succeeded in joining top quality regional and international speakers and panelists who addressed a multitude of registered participants, VIP guests, decision-makers and marine enthusiasts. Satisfaction with the event was very high. The conference highlighted regional achievements in seafront development.

The 2004 conference attracted a wide range of international delegates including: Project owners, government officials and planners, technology and solution providers, private sector investors and developers, multi-national corporations, architects, engineers, construction companies, banks and financial institutions, port and harbor authorities, hotel and retail developers, tourism promotion authorities, leisure developers, real estate agents, academics, journalists and travel press. A similar profile is expected at this years event.

The Wave, an integrated waterfront development in Oman overlooking the Gulf of Oman at the Seeb seafront, is a joint venture comprising Oman’s Waterfront Investments, which includes the Government of the Sultanate of Oman, the National Investment Funds Company, which represents the Omani Pension Funds and State General Reserve Funds, and the UAE’s Majid Al Futtaim Investments. The $805 million project includes a golf course, a marina with yacht club, luxury hotels and exclusive villas and condominiums.

The $200 million City Fanar project is a unique water front ‘Future City’ destination, built around a 300,000 square meters manmade lagoon in Al Khobar, Saudi Arabia. Located on the Al-Khobar-Dammam Corniche, the 3.3 million square meters City Fanar will provide a mixed use environment, offering world-class residential, commercial and leisure facilities, including an unmatched blend of entertainment, dining, shopping, marina and hotels. The project is developed by Rikaz, a leading real estate development company in Saudi Arabia.

The seasonal timing of Beirut Boat, by the of May, makes it an ideal destination for both business and pleasure. Just a short flight from the Gulf and Europe, Lebanon’s renowned hospitality and unique cultural ambience, not to mention its spectacular Mediterranean coastline and mountainous landscape, provide visitors and exhibitors with an unforgettable experience. Beirut is home to luxury hotels from almost every leading chain and world-class resort facilities that are only matched by the country’s natural beauty.

Multi-billion dollar investments in tourism, marine facilities and leisure are taking place all across the Middle East to accommodate the growing demand for boats, super yachts, marine equipment and accessories

The International conference will be held on 18 May 2006 at Le Royal Hotel concurrently with Beirut Boat Show 2006 that will take place from 17 to 21 May 2006 at La Marina Joseph Khoury. Le Royal Hotel is one of the most prestigious Hotels in Lebanon with a stunning and a spectacular view of the Mediterranean sea.