A luxury residential project expressing opulence and lavish lifestyle is underway with the largest pilot residential yacht in the world. In essence, the vessel is a 728-foot designer ship with 39 luxury apartments that cost $600 million to build. The cruiser named Somnio is a fusion of Tillberg Design of Sweden and Winch Design with lavish amenities and a spacious site. The vessel weighs a whopping 33,500-ton. It is the first of its kind in both volume and length. The owners experience incredible and finest quality facilities in residences like never before. The co-founder of Somnio, Captain Erik Bredhe, expressed that they are excited to see the sailing in 2024.
The exquisite residence spans over six decks with various amenities like private libraries, dressing rooms, and kitchens. The yacht liners come with a massive price of €9.5 million (US$11.2 million). The pricey residences are offered through invitation only. Yet, a person with project details informed that interested clients know how to crack the deal.
The residents will enjoy “seven-star” service and get a closer look at the ports known for their richness, including the South Pacific, Mediterranean, Antarctica, etc.
For environmental protection, the yacht liner uses the most recent clean engine technology. Due to the abundant research from marine scientists, the yacht is termed a “revolutionary landmark for the industry” by Jim Dixon, director of yachts and aviation at Winch Design.
Apart from being the spectacle, the yacht offers numerous job opportunities, gains massive profits through the multimillion sales volume. The luxury yacht market size is valued at $10,205.7 million by 2025, registering a CAGR of 7.8% from 2018 to 2025.
As per research, the key factors contributing to the growth of the yacht industry are luxury tourism, best-in-class services, and experiencing high technologically driven amenities. The increase in demand for luxury from travelers inclined towards recreational activities propels the sales.
The pandemic has also driven sales in the sector as the rich sought the classy expedition. Bezos also is believed to be planning a yacht estimated to be worth $500 million with a helipad.
The US contributes to more than 50% of superyacht sales. Nearly £1 billion in sales occurred on second-hand superyachts in 2021.
The industry is booming in the United Kingdom, with revenue reaching nearly £700 million and generating more than 4,500 jobs. Across the globe, the business creates direct employment for 148,000 to 163,000 personnel.