New fractional boat ownership club for Dubai
Entrepreneur Kalid Tarapolsi has launched the Worry Free Boat Club, a private members’ club for fractional boat ownership.
Members pay a joining fee and monthly dues which entitle them to use the club's boats without having to deal with insurance, transporting, berthing and maintenance, which is all taken care of by the club.
Tarapolsi said: “Every time I came to Dubai – and this is the third time I’ve lived here – I always said I want to get a boat. This time I was pretty serious, but I found the costs pretty high compared to what I was used to in the States in terms of berthing and membership dues.”
“Then I came across a similar concept in the States to what we are doing here with Worry Free Boats and I figured instead of three people sharing one boat why not 100 people sharing 10 or 15 boats? There’s been a lot of interest. People are always excited about new things here in Dubai. There are only so many times you can visit Dubai Mall.”
Worry Free Boats debuted at the Dubai International Boat Show in March this year.
There is a one-off sign-up fee of Dh10,000. Then depending on the tier, monthly rates are Dh2,500, Dh3,500 and Dh5,000. This provides different levels of service including a number of free charters per year and overnight renting options. There is also a corporate or family package for a Dh20,000 joining fee and Dh7,500 monthly fee. Captains are available or those with licences can skipper the boats themselves.
The club currently has five boats and two jet skis for 15 members and plans to add more when it reaches 30 to 40 members and expand its service to Abu Dhabi after the summer and Doha by the end of this year.
“We are not going to try to get into the mega-yachts or anything too big and crazy but in terms of if someone was going to go out and buy their own pleasure cruiser, we will have a boat to cover their needs,” said Tarapolsi.