During this time of global economic crisis, emerging countries are driving growth in the luxury sector, and Africa is suddenly being noticed as a strong contender. This economic stride makes us South Africans feel like we’re finally becoming part of the global luxury industry.
The number of high net worth individuals in Africa is set to double in the next ten years, according to Knight Frank’s Wealth Report. So too will the demand for luxury goods rise exponentially. Recent sales and enquiries for multi-million rand yachts by millionaires, especially by dollar millionaires playing in the energy fields, reflect this trend.
The number of Ultra-High-Net-Worth Individuals (UHNWIs) – those with more than $30m or more in net assets – across the world has grown by 59% since 2003, but in Africa the increase has been 130% against the world average of 8.3%. This compares to 89% in Asia, 116% in the Middle East and just 44% in Europe.
“This can only mean we will see more and more luxury brands flooding our shores,” says Derrick Levy, MD of Boating World, leading boating brokers, exporters and importers specializing in luxury motor-yacht market in Sub-Shahara Africa.
A recent sale of the prestigious, R25million 65 Fairline squadron yacht, the first of its kind to be sold through South Africa into Angola, is a demonstration of this. After weeks of meticulous fine tuning by Boating World, the exclusive agents for the prestigious British based Fairline luxury yacht brand, this glimpse of grandeur was cleared for her West Coast journey to her new home in Angola.
The yacht offers extravagant comfort and grace which ensures that it performs well on choppy seas reaching up to 35-knots. Generous living spaces flow freely from one area to the next to create an exquisite ambience in which to relax, explore and entertain. It boasts of a variety of social areas from the chaise longue, sun pad or aft-facing sunbeds to a wide-ranging seating/dining area. There’s really no need to move as one is already comfortably secluded.
Squadron flybridge yachts offer customers the security of well-proven design features and sophisticated advances in marine engineering. Every part of the yacht has been carefully considered with every luxury accounted for.
Fine craftsmanship and furnishings as well as hand-worked cabinetry are hallmarks of the newly launched Fairline Squadron S65.Nowhere are these details more elegantly expressed than in the long, wide single-level interior – a testament to the 65’s ingenious flat floor design – that is usually reserved for much larger yachts.
The sensual, al fresco-style area sums up the personality of this yacht: spacious, easy to move around in and an experienced entertainer’s dream.
For more information on the Fairline Squadran yachts visit www.boatingworld.co.za.
Article by Lauren Immelman