Corcoran Group launches 'The Orphalese' - the world's largest residential ocean liner at International Property Show 2007

Participating for the first time in the exhibition, the American company has also announced record sales to the tune of USD 48 million on the opening day of the show.

The Orphalese will be the largest residential vessel ever built with a size twice that of any existing ship in her class. The ship will offer 200 permanent residences in addition to 265 non-owner guest suites for cruise passengers. The ship will also be equipped with state-of-the-art facilities including shopping areas, business services, medical services, and onboard sports among others. The residential apartments onboard The Orphalese range from USD 2 million to USD 7 million.

Speaking at the exhibition, Gabriel Bedoya, Vice President of The Corcoran Group in New York, said,

"The Group is participating in the International Property Show to target the affluent Middle East market where our exclusive offerings have drawn considerable interest especially The Orphalese, the world's largest luxury residential vessel. The emergence of Dubai as a cruising destination bridging North Africa and Europe presents a great opportunity for Corcoran Group to strengthen its presence in the Middle East."

The company is also showcasing a range of freehold properties in the US located in Miami and New York. The projects are built on exclusive locations and executed by renowned designers and architects. The 47-storey William Beaver House in New York City, which is the first new construction condominium tower in Manhattan's Financial District, will cater to a frenetic lifestyle with 20,000 sq. ft. allotted for amenities such as squash and basketball courts, lap pool, covered dog run and full-service concierge. Designed by Jean Nouvel, 100 11th Avenue breaks traditional tower design and is a visual feat with approximately 1,650 uniquely designed window panes that frame the city's magnificent views. Continuum II is built on the last untouched oceanfront property on South Beach in Miami Beach and has a gated resort setting with pools and gardens over 12.9 oceanfront and 1,000 ft of beachfront. With 76 stories, Met 3 is the tallest residential building south of New York City and offers studios to penthouses and includes an organic market, sky pool, 2-level gym, business center and an amenity deck.

"The Mondrian Project, a USD 250 million development in Miami Beach, Florida, has also attracted keen investors including institutional investors from the UAE and Saudi Arabia. Built with an opulent lifestyle in mind whilst preserving the natural habitat, the project offers a piece of paradise and is set to capture a discerning audience in the Middle East market. Our sales on the first day were beyond our expectations, and reflects a high market potential for Corcoran Group's portfolio," concluded Bedoya.