Gulf Craft's boatyard in Umm Al Quwain is a hive of activity. Workers are putting the finishing touches to the five of the company's yachts before they set sail down the coast for the Dubai International Boat Show.
In pride of place is the Majesty 135, a 135-foot superyacht, the second of its kind in existence. Gulf Craft is the only boat maker in the UAE that makes superyachts, craft longer than 79 ft (24 metres). The first Majesty 135 is in the French Riviera but this one is likely to stay in the GCC.
Dozen of pairs of trainers are lined up along the jetty abandoned by workers going aboard wielding drills and saws. Shoes are not allowed. Inside, plastic sheeting protects the yacht's soft furnishings, plywood covers the decks and thick plastic covers the carpets, keeping the interior pristine before the show.
Despite the coverings, it is possible to ascertain that the interior is tastefully and classically done. At entry level is the main saloon. One level up is the master bedroom. Above that is the sundeck with the Jacuzzi and bar area and "toys" at the back - a dingy and two jet skis. It looks like a lot of fun could be had here.
The Gulf Craft chairman Mohammed Al Shaali comes aboard. How important to him is it that this is the second Majesty 135 that has been made?
"It's very important because ... when you do something the second time and the third time it shows how persistent you are and how serious you are about your business," he explains. "It means customers have confidence to trust the company to build a yacht for them and spend so much money."
Like many companies in the UAE that weathered the financial downturn that hit in 2008, there is a sense that Mr Al Shaali feels that Gulf Craft is in a stronger position that it was before.
This year's Dubai International Boat Show, which starts tomorrow, is a chance "to show the whole world we are here and here to stay," he says.
"After the financial crisis so many big companies in the yacht business either went under or lost business or closed down or are suffering. For us to stay and to build yachts of this size shows the company is well managed."
Gulf Craft was in the enviable position of having no debt when things started going wrong and it is vigilant about controlling expenses: the company's executives fly economy class, for example, rather than business or first class, according to Mr Al Shaali. And while the company pays the market rate for raw materials, it keeps costs down by doing as much of the manufacturing as possible in-house. All these savings are passed on to the customer, resulting in boats that cost 30 to 40 per cent less than those of their competitors.
"Maybe [the recession] helped us as a small company to grow in the international market because people at that time were counting their spending and looking for a good deal," he reflects. "We were able to give the best value because we give you the same quality and a similar boat at a lesser price. This is what we call value."
The Majesty 135 costs US$16 million (Dh58.7m). The Majesty 125, which is 10 feet shorter, costs US$12.5m.
Mr Al Shaali believes that consumer confidence is returning - though it might never again reach the heady heights of pre-2008. "That was not real," he says, adding that he worries that financial markets in Europe and the United States are now being over-regulated.
In many ways, Gulf Craft is synonymous with the Dubai boat show. It is among the show's biggest exhibitors and helped to keep the show alive when tensions in the region kept other manufacturers away. He cites the year the US invaded Iraq. The show is the company's main focal point for the year and the main platform for meeting customers, suppliers, designers. In fact, Gulf Craft has invited 3,000 people to the show. Further, Mr Al Shaali says the company is already planning for the 2014 event.
Nevertheless, the Dubai boat show is an occasion to enjoy.
"This is a secret to tell you," he says. "We don't sell yachts at the boat show. We sell before or after. We go there for fun. The atmosphere is very, very nice."