Sheikh Rashid Bin Dalmouk Al Maktoum, Chairman of the Dubai Equestrian Club and Dubai Racing Club, speaks to the media.

Gulf Today, Staff Reporter

Dubai will soon see a number of new initiatives that will strengthen its position as a regional hub for the horse racing and equine industry and bring new opportunities to the sector, said Sheikh Rashid Bin Dalmouk Al Maktoum, Chairman of the Dubai Equestrian Club and Dubai Racing Club.

Sheikh Rashid revealed this after opening the Dubai Equestrian Procurement Forum, the region’s first equine industry exhibition that brings all stakeholders, including suppliers, sellers, buyers, importers, industry experts and racing clubs, under one roof to strengthen cooperation in the multi-billion-dollar industry.

Opportunities emerging from future projects in the sector worth $400 million were high on the event’s agenda.

More than 200 decision makers from a range of international companies specialised in the equestrian industry participated in the Dubai Equestrian Procurement Forum held at the Meydan Grandstand.

"As the equine industry recovers from the COVID-19 pandemic, there will be many fresh opportunities for industry stakeholders including manufacturers, suppliers and technology providers. The industry is growing and we will announce new initiatives for the industry in the near future,” Sheikh Rashid said following the inauguration.

“The Dubai Equestrian Procurement Forum will now become an annual industry event that will unveil new products and services and bring new opportunities for all of us,” he added.

More than 50 exhibition stalls displayed various products ranging from equine hospitals, veterinary clinics, fodder suppliers, manufacturers of equine industry products, equine logistics operators, and equine industry related services for buyers at the exhibition.
 
Dubai Equestrian Club and Dubai Racing Club, two of the largest horse racing organisations in the Middle East, joined hands to host the Dubai Equestrian Procurement Forum at the Meydan Racecourse, the largest horse-racing hub in the Middle East.

Sheikh Rashid said: “Guided by the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, efforts to enhance the growth and development of the equestrian industry have always been among our highest priorities. We have constantly been committed to extend support to various sectors which serve equestrian clubs and stables and are keen to ensure that the products supplied to the industry are of the highest standard.”

The UAE is home to some of the best equestrian clubs in the world, which have witnessed great growth and gained global appreciation. This makes them the ideal target market for new products, services and suppliers, with an average annual spending of more than US$100 million (Dhs367 million).

The annual cost of caring for a racehorse training in the UAE is about $30,000 (Dhs110,000). The total money spent by the sector in the country for racehorse training is $570 million (Dhs2.09 billion).

Noel Greenway, Managing Partner, Great Minds Event Management, said, "This is a great industry event and a very successful one. The participation, the quality of participation and the number of visitors – all exceeded our expectations.

“As a result, this will now become an annual industry event and today’s event creates a good benchmark for the industry.

Dubai has a proud history of horse racing, having hosted its first flat race in October 1981 in the Nad Al Sheba area.

The foundation of Dubai Racing Club in 1992 and the flagship Dubai World Cup meeting in 1996 strengthened the UAE’s and Dubai’s profile as a global racing hub.

The local horse racing sector took another leap forward in 2010 with the opening of the iconic Meydan Racecourse, which became the new headquarters of the Dubai World Cup with a capacity to accommodate more than 60,000 spectators.