- Lurssen’s $450 million Project Ali Baba is a 466-foot floating palace, set for delivery in December 2024.
- This luxury superyacht will accommodate 24 guests across 12 staterooms, served by 45 crew members, and features two helipads.
- Despite a collision during construction and a change in ownership due to sanctions, Project Ali Baba promises to set new standards in the world of luxury yachting.
Last year, German shipyard Lurssen made headlines with the unfortunate fire and the destruction of a Saudi billionaire’s $250 million USD yacht. But, like the phoenix rising from the ashes, Lurssen’s back in the spotlight with the superyacht Project Ali Baba—a 466-foot vessel that makes Jeff Bezos’ 416-foot sailing yacht, Koru, look like a dinghy in comparison.
A Palace Fit for a Super-Modern Sultan
Project Ali Baba has begun sea trials in Germany, with construction nearly complete and only minor adjustments remaining. The trials showcase a close-up of the yacht’s extended bow, drawing inspiration in design from military styles. The vessel is scheduled for delivery in December 2024.
At $450 million USD, Project Ali Baba is the nautical equivalent of the GDP of a small country. This aquatic wonder will sleep 24 guests in 12 staterooms, waited on by 45 crew—because when you’re this wealthy, even your help has help.
The four-deck yacht features two helipads—one fore and one aft—revealing the near-constant flurry of high-profile visitors. It also features a spacious beach club off the aft of the main deck and several lounge areas sprinkled throughout, promising endless possibilities for relaxation and fun.
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Luxury That Defies Description
Characteristically tight-lipped, Lurssen doesn’t give away many secrets regarding the interior of this yacht. However, reports suggest unparalleled luxury abounds: sumptuous furnishings, sophisticated entertainment systems, and custom finishes redefine opulence. The upper deck is rumoured to be a private sanctuary for the ultra-wealthy owner, with exclusive amenities to fire the imagination.
Built from a steel hull, aluminium superstructure, and teak decking, Project Ali Baba is an engineering masterpiece with great design. With a gross tonnage of 9,400 GT, she will enter into the elite fleet of only 70 motor yachts that have exceeded 100 meters in length. Her MTU engines promise impressive performance, with a maximum speed of 20 knots and a cruise speed of 12 knots. With an added 3,000 nautical mile range, no destination will be out of reach.
A Giant’s Turbulent Path
The path of this yacht to centre stage wasn’t all without incident. In December last year, the yacht collided with an internal gate and had a brief encounter with a bridge, providing an early, brief glimpse of the gigantic vessel of luxury.
Project Ali Baba started construction in 2019 and was commissioned by Russian billionaire Leonid Mikhelson, estimated to be worth $25.5 billion USD per Bloomberg. Then came Russia’s war on Ukraine, and Mikhelson wasn’t able to take possession because of subsequent sanctions. Sold while still under construction, the true identity of Project Ali Baba’s new owner remains a tantalising mystery.
The Future of Floating Fortunes
Even as climate activists protest these fuel-guzzling giants and the occasional superyacht meets an unexpected fate, the demand for these floating palaces simply shows no signs of abating. Project Ali Baba is among the ten superyachts in the construction process at Lurssen.
As a matter of fact, it is estimated that the global superyacht market was valued at over $10.2 billion USD in 2022 and is set to hit $25.7 billion USD by 2032, growing at a robust 9.8% CAGR.
Whether one applauds or condemns the luxury yacht industry, the numbers do tell the story. The rich and famous continue to pump money into these fabulous vessels as part status and part testament to their unlimited wealth. With Project Ali Baba set to rule the waves, the adage is once again proved right that as far as superyachts are concerned, nothing’s too big, too luxurious, or too expensive.
After all, in the world of the super-rich, the sea’s the limit.
