Ahead of next year’s inaugural Red Sea Yacht Show, an agreement has been reached, ensuring the long-term viability of the event.
Sela, the events company owned by the Public Investment Fund, and Tahaluf have signed a 10-year deal for the event, which takes place on October 14-17 2027.
The signing, overseen by Deputy Governor of Makkah Region Prince Saud bin Mishaal bin Abdulazi, took place at Jeddah Yacht Club, the event which will host the boat show.
The decade-long deal comes as the Red Sea Yacht Show pledges to position Saudi Arabia as a leading yacht destination. The event intends to build upon the imprimatur of the Monaco Yacht Show.
It is also part of the Kingdom’s Vision 2030, which projects 150 annual visitors in the next four years.
The ambition extends far beyond organising a traditional yacht exhibition. The Red Sea Yacht Show is being developed as an international platform connecting the global yachting community with Saudi Arabia’s growing luxury tourism and marine services sectors, opening opportunities for local companies and strengthening the potential for long-term commercial and investment partnerships,” said Mike Champion, Chief Executive Officer of Tahaluf.
The event will connect international companies operating across the yacht sector with Saudi businesses, supporting cooperation, knowledge transfer and investment in maintenance, fuelling, logistics and other specialised marine services,” added Mohaned Mahjoub, Vice President of Tahaluf.
The show plans to feature 150 exhibitors, display 50 superyachts and welcome over 10,000 visitors, with a total value of $3 billion from vessels on display.
Jeddah Yacht Club and Marina accommodates 94 berths for superyachts up to 120 meters in length.