As symbols of power, freedom and wealth, yachts are fast becoming; after mansions, cars and watches; the ultimate luxury for the up-and-coming rich in the Arab world. According to the latest World Wealth Report compiled by Merrill Lynch and Capgemini the number of millionaires in the Middle East rose by 19.6 percent to 300,000 in 2005. This can explain why the mega yacht business has mushroomed in the last decades. In fact, super and mega yacht commissions are rising by around 10-15 percent a year and the world’s best big-boat designers are booked solid.
Beside the surplus of wealth, the incredible progress in communications technology has also helped boost the sales. Nowadays the billionaire owners of these super floating vessels are not only constantly wired to their offices but they can also enjoy the ultimate comfort and luxuries of a home anywhere in the world while at anchor or at sea.
However, the main problem facing yacht owners in the Gulf, is finding a berth and unless one can build his own, the waiting list is indeed very long. The increasing surge in demand for berths has opened up an exciting new kind of coastal development in the Middle East. The construction of integrated residential marina developments has been steadily growing in the Gulf and in Egypt in response to the scarcity and rising cost of berths in fashionable seaside resorts such as Monaco, the Cote d’Azur, the Spanish coast and Florida to name but a few.
This new type of development enables the owner to bring his yacht in a private mooring beside his home or to benefit from special berthing rates by buying a maritime condominium. This particular kind of residential property first appeared in the 1980s in Port Grimaud, a marina village in the South of France. It proved so successful that it has since been copied all around the world.
The spiraling sales of luxury boats are also creating an urgent need for marina homes with berths capable of handling mega yachts.
These marine villages are not only filling a gap but they are also a major touristic boon for entire coastal regions. Such is the case of Port Ghalib situated at Marsa Alam, along the Southern Red Sea Coral Coast of Egypt, stretching along an 18 km virgin coastline and backed by rugged desert mountains.
According to the developers: “Port Ghalib is designed to achieve the functionality of Puerto Banus, the sense of adventure of Sun City, and the excitement and allure of St Tropez, all set in architectural styles from Egypt’s 7,000 year history.”
The heart of Port Ghalib is its world-class international marina, the largest private marina on the Red Sea and in the Middle East. Port Ghalib International Marina can already accommodate 500 yachts and by 2007 it will offer an additional 500 berths. It has extensive options for yachts sailing the Red Sea moving to and from Asia and the Mediterranean or for local and regional based yachts exploring the Red Sea’s unique coral gardens.
When its second expansion phase is completed, Port Ghalib will have 23 hotels, an 18-hole golf course, a yacht club, residential properties, and commercial as well as entertainment facilities. The residential area comprises a number of villages with commercial centers, sports clubs, entertainment and medical facilities. The first phase featuring 410 apartments will be completed by January 2007.
Easily accessible by air via the new Marsa Alam International Airport, by sea through the Port Ghalib International Marina or by road: six hours drive from Cairo, Port Ghalib has an exceptional climate, never too hot, never too cold and never too humid, it is furthermore blessed with 360 days of clear sunshine a year and ever-present offshore breezes.
The marina can already receive vessels up to 50 meters with a total length of 3,300 meters of quays. It is accessible via a natural 550m long channel, running through the shoreline reef.
The berths at Port Ghalib International marina provide fresh water and electricity supplies, solid waste disposal, laundry service, diesel and petrol fuel supply as well as transportation and medical services. The corniche has restaurants, cafes, shops and boutiques, as well as a souk and other entertainment venues.
This type of residential marina development is not only attracting a growing number of yachting aficionados or tourists in search of yachting safaris or diving holidays but also retired couples preferring a life that offers some adventure like sailing off in their boat on the spur of the moment. Investors have also shown a growing interest because they know that any place where you can moor a yacht near a house is sure to retain its market value. Providing sun and fun, the freedom to sail and a luxurious seaside home with a private mooring for any kind of boat, Port Ghalib’s success is guaranteed.
