04/03/2024

4 March 2024
4 March 2024, Comments Comments Off on Derubis signs joint venture to start caravan production in Saudi Arabian market
Derubis signs joint venture to start caravan production in Saudi Arabian market

Derubis, the boat and caravan manufacturer from Bosnia and Herzegovina, is entering the Saudi Arabia market with the establishment of the first leisure vessel shipyard and caravan factory in the Kingdom of Saudi Arabia, within the King Abdullah Economic City (KAEC).

This expansion marks a significant milestone in Derubis’ global growth strategy, positioning the company as a key player in the region’s maritime and leisure industries.

Derubis has signed a Joint Venture agreement with Zahrani Holding Group, an investment conglomerate established in 1975 specializing in a broad spectrum of industries ranging from construction and contracting to travel and tourism.

This collaboration leverages both groups’ industrial expertise to expand within the luxury vessel and caravan market, regionally and globally.

Construction of the first leisure vessel shipyard and caravan factory commenced in February 2024, marking a historical moment for Saudi Arabia and the beginning of Derubis’ journey into the Saudi Arabian market.

The first leisure vessel shipyard and caravan factory will be located within the King Abdullah Economic City (KAEC) industrial valley development area, which spans 185 square kilometers across the coast of the Red Sea, home to King Abdullah Port, which was named Most Efficient Container Port Globally by The World Bank in 2021.

In the first year, Derubis plans to produce 16 power catamarans (hybrid and electric propulsion), and 240 caravans. Looking ahead, the company aims for a maximum annual production of 50 power catamarans and 480 caravans.

This strategic move aligns with Saudi Arabia’s Vision 2030, a blueprint aimed at diversifying the kingdom’s economy and reducing its reliance on oil. By investing in sectors such as leisure and tourism, Derubis contributes to the realization of Vision 2030’s goals, fostering economic growth, job creation, and sustainable development in the region.

The leisure vessel shipyard will cater to the production of high-quality leisure vessels, while the
caravan factory will manufacture state-of-the-art integrated monocoque caravans, tailored to the
needs of customers in Saudi Arabia and beyond.

Bader Al Zahrani, Chairman of Zahran Holding Company, praised the agreement as a key step
to satisfy growing demands in the recreational boat and caravan market.

“We are proud to be a part of this groundbreaking deal and look forward to cultivating the first leisure shipyard and caravan factory within the Kingdom of Saudi Arabia. In line with Saudi Vision 2030’s objectives to diversify its economy, the factory and its operations are aiming at further expanding the nation’s marine and caravan sectors. Operating within King Abdullah Economic City gives our shipyard
and caravan factory the ideal conditions to flourish and meet the needs of the booming domestic
yacht market, which is projected to have a compounded annual growth rate of 19.4% during 2022-
2028, and Caravan and Motorhome Market size is estimated to grow at a CAGR of 5.7% over the
forecast period,” commented Al Zahrani.

Denis Kraljević, founder of Derubis Yachts, the designer and constructor of the yachts and caravans, emphasizes the company’s philosophy: “At Derubis, we believe that good design and superior products don’t recognize boundaries. Our commitment to excellence knows no borders, and our expansion into the Saudi Arabia market is a testament to our belief that quality and innovation transcend geographical limitations. We are proud to share the same vision with our joint venture partner, driving us to new heights of achievement in the maritime and caravan markets.”