The most important activities of the luxury yacht factory are the manufacture of boats, luxury yachts, pleasure and fishing boats, docks, marine stands and water skis.
Al Kathiri Holding Company announced in a statement “Saudi Tadawul” website announced the launch of its project to build a factory for the manufacture of luxury yachts at a cost of 20 million riyals, in one phase during the fiscal year 2024, and after the company signed a land lease contract through the Saudi Authority for Industrial Cities and Technology Zones (Modon) with an area of 8,775 square meters in the third industrial city in Jeddah. .
The factory’s most important activities are the manufacture of boats, luxury yachts, pleasure and fishing boats, docks, marine stands, and water skis. The project aims to build and manufacture yachts for projects in the Red Sea and the areas located on it.
The company expected to begin construction of the project next March, and to complete construction of the project in the first quarter of 2025. The company also expects the financial impact of the project to appear starting in the second quarter of 2025.
This project comes within the company’s strategy and plan to expand and diversify its investment portfolio. It is expected that the project’s maximum production capacity will reach 150 units annually by the end of the fourth quarter of 2025, distributed among the factory’s 6 products, which are luxury yachts, pleasure and fishing boats, docks, marine parking lots, and water skis.
On October 29, 2023, Al Kathiri Holding Company announced the approval of the Board of Directors to establish a 100% owned limited liability subsidiary, “Luxury Yacht Industry Company.”
