Yachts the ultimate Arab status symbol (page 1 of 2)

When it comes to owning a superyacht - one of the ultimate status symbols in the Arab world - bigger is definitely better.

To make the superyacht grade, a luxury vessel must be at least 25 meters in length, and that benchmark is increasing with every newly built vessel. Thirty meters was at one time considered a big boat; now even 45 meters is seen as modest. As for the cost, think in terms of tens of millions of dollars. For starters.

Worldwide, the superyacht industry has grown more than 90 percent in the last decade. Exactly how much of that growth has come from the Middle East is impossible to say - both superyacht owners and sellers are notoriously discreet - but, since the oil boom of the 1970s, the region has unquestionably been driving industry expansion.

If you're serious about owning a superyacht, then the choices are nearly limitless. The 75 meter Katana, for instance, is currently for sale. Built for speed, with an 18,500 horsepower engine, the vessel can reach speeds of 32 knots, roughly 40 miles per hour. The Katana can accommodate 12 guests in its six staterooms, each designed in a very modern style. The price tag: $68 million.

A more modest option is the Renegade, priced at a mere $9.95 million. This 42 meter superyacht accommodates eight guests and an equal number of crew. The price includes a pair of small craft, a pair of jetskis, two folding bicycles and one inflatable inner tube, which seems the least one could expect for just under $10 million.

Superyachts are continuously evolving in both size and complexity. Modern versions are safer and more seaworthy than their predecessors, and may be built of steel, aluminum or fiberglass. As power and grace are traditionally associated with Rolls-Royce motor cars, so it is for super-yachts.

The vessel must exude a powerful, prestigious ride with stealthy quiet. Noise and vibration reduction on vessels is a battle won by superior design, high build quality and painstaking inspection to dampen any remaining noise and vibration.

Despite the high cost and custom-built nature of superyachts, there are still a few hundred constructed each year, with an estimated 2,500-plus registered worldwide. Patrick Phillips, director of Super-Yacht International, says the main yards and builders are Dutch, German, American and Italian, with Arab clients favoring Dutch yards. SuperYacht is a British-based consultancy providing sales, brokerage and chartering services to owners of yachts over 21 grade.

"Arab clients normally require speed and luxury at the lowest possible price," says Phillips. A super-yacht is an opportunity for a buyer to fulfill a wish list of desirables: Arab owners seek the equivalent facilities of a five-star hotel in a vessel that can move from place to place at very high speeds, he says.

Privacy and confidentiality are usually important to Arab owners, Phillips says. For reasons of confidentiality he cannot reveal owner names, but he adds that many of the largest and most luxurious yachts in the world are owned by Arabs.
One renowned superyacht in Arab hands is the 104 meter Lady Moura.

Owned by Mohammed al-Rashid of Saudi Arabia, the Lady Moura is reputed to have cost in excess of $100 million, carry a crew of 60 and incorporate features such as a beach resort complete with sand, a large pool with a retractable roof, a 23 meter dining table custom-made by Viscount Linley.

Prince Walid bin Talal has an 85 meter superyacht, which he bought from real- estate mogul Donald Trump.