dubai

UPDATE: Buyer of $308 Million Monaco Penthouse Was Dubai Royal

It seems we were not in full possession of the facts when we relayed a report the other day that the world's most expensive penthouse, the $308 million former Safra property in Monaco (above), may have been sold to Greek billionaire Constantine Alexander-Goulandris. While Alexander-Goulandris was indeed involved in the sale, an insider now tells us it was actually in an advisory capacity and that the real purchaser was a member of Dubai's royal family, the Al-Mahktoums, headed by the immensely wealthy Sheikh Mohammed bin Rashid Al-Maktoum. Though incredibly expensive the purchase is seen as a wise investment by the Al-Mahktoums, we're told. In the wake of Dubai's financial difficulties, which caused Sheikh Mohammed's personal fortune to plummet by $7.5 billion last year, the family has been advised to acquire more (and more stable) assets outside of the UAE rather than sinking it all into Dubai's volatile economy. Alexander-Goulandris, being a resident of Monaco and an intimate of the Al-Mahktoum family, strongly urged the purchase of the Safra penthouse for the sake of diversification. It's not a bad place to hang out in either.

Gallery: $308 Million in Monaco

Tags: billionaire, Constantine Alexander-Goulandris, Dubai, Lily Safra, Monaco, monaco+penthouse, monacopenthouse, penthouse, royalty, sheikh, Sheikh Mohammed bin Rashid Al-Maktoum, UAE, worlds most expensive

$308 Million Monaco Penthouse Purchased by Abramovich Associate? [UPDATED]

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Wealth

A well-connected Luxist follower has written in to inform us of the identity of the buyer of the record-shattering $308 million Monaco penthouse (above) we just reported on. The new owner of the world's most expensive apartment we're told is Greek billionaire Constantine Alexander-Goulandris, a close friend and business associate of Russian oligarch Roman Abramovich. According to Wikipedia, the American-born Alexander-Goulandris, 47, who's based in Monaco, is an influential adviser to the Saudi royal family and the emirs of Qatar and Kuwait, as well as the leaders of the UAE and many of the world's largest oil companies.

In addition to Abramovich he's also close to Russian prime minister Vladimir Putin. Though not on Forbes' list of the world's richest people, he's said to be worth an estimated $15 billion thanks to investments in petroleum and energy shipping and real estate, including the Olympic Tower building in NYC. In addition to Monaco Alexander-Goulandris reportedly maintains residences in Paris, London, Antibes, New York and Hawaii. He also owns one of the largest yachts in the world, the Dubai-registered, 279-ft. Delma, and jets around on a Boeing 767 and two Gulfstream G550s.

UPDATE: The buyer was in fact a member of Dubai's royal family; Alexander-Goulandris acted as an adviser - read more here.

Gallery: $308 Million in Monaco

Tags: apartment, Dubai, Lily Safra, Monaco, most expensive, oil, penthouse, real estate, Roman Abramovich, Saudi, UAE, Vladimir Putin, wealth, worlds most expensive

Dubai Ruler Refits Yacht to Beat Abramovich's Eclipse

by Jared Paul Stern (RSS feed) —

Filed under: Yachts & Sailing, Wealth

Just as we predicted in our latest story (dated Aug. 23) on Roman Abramovich's gigayacht Eclipse (above), it won't be the world's largest privately owned yacht for very much longer. Dubai ruler Sheikh Mohammed Bin Rashid Al-Maktoum is reportedly having his own floating palace, the Dubai, refitted to literally eclipse the Eclipse. As we noted in our previous story, at 531.5 ft. the Dubai is already only 18 inches shorter than the actual length of the Eclipse, which yachting experts Camper & Nicholsons finally pegged at 533 ft. Now the London Sunday Times reports that Sheikh Mohammed is planning to have the Dubai extended by at least two feet, and possibly as much as eight feet, easily beating the Eclipse to recapture the World's Largest title. The UAE's Platinum Yachts, which built the Dubai, is considering updates that could include a black box radar to be mounted jutting forward from under the prow. [continued]

Source

Tags: Dubai, Eclipse, gigayacht, megayacht, Platinum Yachts, Roman Abramovich, russian billionaire, sheikh, Sheikh Mohammed Bin Rashid Al-Maktoum, superyacht, UAE, worlds largest, yacht

Continue reading “Dubai Ruler Refits Yacht to Beat Abramovich's Eclipse”

Shiekh Wheels: Rolls-Royce Debuts Bespoke Editions for Abu Dhabi

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos, Wealth

A regular old Rolls-Royce? Strictly for peasants, my friend. No filthy rich oil sheikh would be caught dead in one. Hence the new bespoke Phantom editions built specially for Abu Dhabi, which as we all know has the actual cash, as opposed to Dubai which thrives on flash and debt thanks to Abu Dhabi's indulgence. Inspired by the emirate's "rich culture and landscape" emphasis on rich – the new models are of course extremely vulgar and insanely expensive. The special edition Phantom Drophead Coupe (above) is called Shaheen, after the local word for the prestigious peregrine falcon used for hunting. It features a marquise-white exterior with Tudor red lines and a red and seashell leather interior, brass falcon inlays and falcon embroidered head-rests. The Phantom sedan meanwhile is named Baynunah after Abu Dhabi's sand dune covered western region. Fittingly finished in shades of brown and tan, it features hand-crafted inlay and marquetry, some of it applied with tweezers to ensure maximum precision, and a solid gold Spirit of Ecstasy on the hood. Better bring a solid gold bucket.

Gallery: Rolls-Royce Abu Dhabi Editions

Tags: Abu Dhabi, bespoke, custom cars, Dubai, hunting, oil, Rolls Royce, Rolls-Royce, Rolls-Royce Phantom, sheikh, UAE, wealth

Abramovich's Gigayacht 'Eclipse' Not as Big as He Claims?

by Jared Paul Stern (RSS feed) —

Filed under: Yachts & Sailing, Wealth

Has Russian billionaire Roman Abramovich been exaggerating the size of his gigayacht Eclipse (above), billed as the world's largest and most expensive privately owned yacht? Judging by Camper & Nicholsons' newly-released Super Yachting Index that would seem to be the case. C&N, the leading international yacht broker established in 1782, lists the world's largest yachts among other data in its much-anticipated report. According to their rigorously fact-checked figures, Abramovich's behemoth built by Blohm + Voss is still the world's largest yacht – but only by a hair. C&N states that it measures only 533 ft., a whopping 24 ft. shorter than the figure in general circulation. That means Sheikh Mohammed Bin Rashid Al-Maktoum's Dubai at 531.5 ft., which held the World's Largest title until the Eclipse was constructed, is only 18 inches shorter. And since the Dubai ruler basically owns his own shipyard now – the U.A.E.'s Platinum Yachts, where the Dubai was finished – it wouldn't take much for him to have it refitted with an extra few feet of metal to put Abramovich firmly in his place. We expect he'll see to it straight away – meanwhile, Abramovich should consider changing his yacht's name to something a little more humble, like Obstruction.

[via JamesList]

Tags: billionaire, Blohm + Voss, Camper Nicholsons, Dubai, Eclipse, megayacht, Roman Abramovich, Russian billionaires, Sheikh Mohammed Bin Rashid Al-Maktoum, superyacht, worlds most expensive, yacht

Dubai Ruler's Fortune Plummets $7.5 Billion, Named Forbes' Biggest Royal Loser

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

Shed a tear for Dubai's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, who has been named Forbes' biggest royal loser after his fortune plummeted by $7.5 billion this year – a drop of over 60% in net worth and even worse than the $6 billion he lost last year in the wake of the emirate's financial implosion. Al-Maktoum now has only $4.5 billion in the bank, down from $18 billion two years ago – a loss of $13.5 billion in total. Others on the magazine's list of the world's richest royals fared better – top of the heap is King Bhumibol Adulyadej of Thailand whose $30 billion fortune remains unchanged, followed by the Sultan of Brunei at $20 billion (also unchanged), and King Abdullah bin Abul Aziz of Saudi Arabia whose net worth rose to $18 billion thanks to shrewd financial planning. In case you're wondering about the Queen of England, she's way down on the list with a paltry $450 million. Collectively the group's fortune is down 9%, or $10 billion this year, to $99 billion – a whopping $32 billion below their 2008 total. Time to tax those subjects.

Tags: billionaire, Dubai, Forbes, Queen of England, royal family, royalty, Saudi Arabia, Sheikh Mohammed bin Rashid Al-Maktoum, Sultan of Brunei, Thailand, UAE, wealth

BMW to Auction Museum Cars for First Time Ever at Bonhams in Dubai

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos, Auctions

BMW have consigned two cars from their museum's reserve collection for sale at Bonhams inaugural Collectors' Motor Cars auction at the Royal Mirage Hotel in Dubai this October. This is the first time that cars have ever become available from the official factory collection representing a truly unique opportunity for collectors. The first of the lots is a white BMW 3.0 CSL (left) with motorsport stripes and concours factory restoration. With its aerodynamic spoilers for racing, the car became known as the "Batmobile". Only 57 of this second series design were created before production ceased in December 1975, of which only about a third are thought to survive.

The 3.0 CSL is expected to fetch €130,000–€170,000. Also consigned is a rare 1979 white BMW M1 (right) with very low mileage and in concours condition - a homologation special of which very few were made due to high production costs. It is also estimated to fetch €130,000–€170,000. Other cars also consigned for the sale already include a 1993 Italdesign Aztec Barchetta (€80,000–€120,000) and our personal favorite, an extraordinary one-of-a-kind 1972 Ferrari 365 GTB/4 Daytona Shooting Brake, estimated at €200,000–€300,000.

Gallery: BMW & More at Bonhams Dubai

1972 Ferrari 365 GTB/4 Daytona Shooting Brake

Tags: auction, BMW, BMW M1, Bonhams, classic cars, Dubai, Ferrari, museum, Shooting Brake, UAE

Dubai Could Scale Back Plane Orders

by Deidre Woollard (RSS feed) —

Filed under: Wings

Dubai-based Emirates Airlines may be buying jets like crazy but the state-controlled Dubai Aerospace Enterprise's (DAE) order for 200 aircraft may be at risk. The Wall Street Journal reports that the $29 billion order, split evenly between Airbus and Boeing could become a casualty of Dubai's struggle to contain its massive debt. The orders could end up going to Emirates Airlines or flyDubai although the WSJ quotes a flyDubai spokeswoman for flyDubai as saying that the airline has no plans to increase its order.

In 2007 before the global recession began, Dubai Aerospace Enterprise's leasing division, DAE Capital ordered the 200 planes planning to rent them out to airlines. So far 10 of the planes have been delivered. But Dubai's picture has changed dramatically in the last few years due to the economy and the change in Dubai's real estate wealth and now DAE is having trouble making the installment payments. These payments can total tens of millions of dollars per plane, and neither Airbus nor Boeing will start assembling an ordered plane if a customer is unable to pay. Shown at right are Airbus Chief Operating Officer John Leahy, Airbus President and Chief Executive Officer Tom Enders, Dubai Aerospace Enterprise Capital CEO Bob Genise and DAE acting CEO George Mushahwar posing with an Airbus model plane at Farnborough Airshow in 2008 after DAE Capital signed an order for 100 Airbus aircraft.

Earlier this year Emirates Airlines announced that it has ordered 32 A380s from Airbus for $11.5 billion in addition to the previously ordered 58 A380s creating the world's largest fleet of the doubledecker aircraft. In the past two years Emirates has put 10 A380s into operation to serve eight destinations.The company had a record profit increase of 248 percent in the last fiscal year and has said it could hit $1 billion in profits this year.

Tags: dubai, emirates, Emirates Airlines

New Gold Coin Features Palm Jumeirah

by Deidre Woollard (RSS feed) —

Capitalizing on the renewed interest in and high price of gold the Dubai Multi Commodities Center (DMCC) and the World Gold Council have launched the latest in the Visions of Dubai gold coin series. The new coin features the image of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on the front and The Palm Jumeirah, one of Dubai's iconic landmarks, on the reverse.

The coin is made of 24-karat (999.9) gold and supported by the World Gold Council. The VoD coins are produced by Emirates Gold Refinery DMCC and the collectibles have been especially designed to represent Dubai to the world, sending the message that the emirate is an important hub for gold in the Middle East region. The coins come in four sizes: 1oz (34 g), ½ oz (17 g), ¼ oz (8.5 g) and 1/10 oz (3.4 g) and are sold through Dubai Duty Free and gold retailers including Siroya Jewellers LLC, Joy Alukkas Group, Mahallati Jewellery and Popley Jewellers. The coins are also being promoted by DMCC through an extensive range of creative marketing activities and promotions.

Tags: dubai, dubai multi commodities center, gold coin, world gold council

First Armani Hotel Opens in Dubai

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

It took a little longer than expected but the first Armani Hotel has opened in the world's tallest building, the Burj Khalifa tower in Dubai. The hotel is the first landmark tenant in the building. The 160-room hotel marks the Italian designer's first foray into the hotel business.

Every bit of the hotel's design was overseen by Armani and is a consistent vision of his neutral, minimalist luxe style. The staff wear Armani suits and dresses. The hotel is designed to be exclusive and only those who have room or restaurant reservations can gain access to the area of the Burj Khalifa that houses the hotel. Your stay comes with the sevices of a "lifestyle consultant," a personal concierge who sees to all your needs. Such fine digs will cost you. Rates start at $750 and night and a suite can run you $2,500 although opening specials in the fast rising heat of late spring will net you a studio for $550 and an Armani Signature Suite for $2,200. Restaurants include Armani/Amal, offering Indian food with modern presentation, Armani/Hashi for sushi and Japanese plates, and Armani/Peck, an Italian style deli. Click through after the jump for a look at the Armani hotel, a space that seems very true to the look of Armani's existing boutiques and restaurant offerings.

Tags: armani hotel, armani hotel dubai, burj khalifa, dubai, dubai hotel

Continue reading “First Armani Hotel Opens in Dubai”

A Complete Guide to the World of Horse Racing

by Jared Paul Stern (RSS feed) —

Filed under: Sports, Books

As the buildup to the Kentucky Derby gains momentum, there's a beautiful new book by one of the world's bestselling equestrian authors to help get you in the right spirit. Racehorse: The Complete Guide to the World of Horse Racing (AA Publishing) by Elwyn Hartley Edwards opens with a foreword by renowned jockey Richard Dunwoody. Featuring four full-color, fold-out photographic spreads in addition to hundreds of arresting images, the oversized tome documents all aspects of the multibillion-dollar horse racing world, of which the Derby is just one facet. Royal Ascot, he English Derby at Epsom, the Dubai World Cup and the racecourse at Saratoga, New York are featured along with sections on flat racing, harness racing and steeple-chasing, the triumphs of great jockeys, and the lineage and records of the world's fastest horses.

Tags: Dubai, equestrian, horse racing, horses, Kentucky Derby, racehorse book, Royal Ascot, Saratoga

Blacker than Black: Brabus Vanish Mercedes SL

by Noah Joseph (RSS feed) —

Filed under: Luxury Cars & Autos

There's an epic history to all-powerful, super-fast Mercedes. Recent highlights have included the SLR McLaren, the new SLS AMG, and this, the SL65 AMG Black Series. With a solid carbon-fiber roof and a 670-horsepower turbocharged V12 engine, the SL Black is one of the fastest cars ever to wear the three-pointed star. But one discerning client in Dubai wasn't satisfied, so he turned to eminent Benz tuner Brabus for an answer.

What they came back with is what you see here: the Brabus Vanish. Upgrading the turbochargers, gearbox, brakes and exhaust has yielded 800 horsepower, looking menacing in its matte black paint scheme. Try not to like it too much, though, as this was a one-of-a-kind creation.

Gallery: Brabus Vanish

Tags: Black Series E-Class Coupe, Black Series E-Series, brabus, brabus vanish, dubai, mercedes, mercedes-benz, Mercedes-Benz SL65 AMG, Mercedes-Benz SL65 AMG Black, mercedes-benz sl65 amg black series, middle east, sl, vanish

Desert Palm Wins Cartier Int'l Dubai Polo Challenge

by Jared Paul Stern (RSS feed) —

Filed under: Events, Sports, Wealth

The home team captured the trophy at the Desert Palm Polo Club the other day during the Cartier International Dubai Polo Challenge. The Desert Palm team, manned by the best polo players money can buy, beat out Swiss bank Julius Baer's team 7 – 4.5. The patron of the event, which got underway with a ball being thrown from the back of a Porsche 911, was HRH Princess Haya Bint Al Hussein, wife of Dubai's ruler Sheikh Mohammed Bin Rashid Al-Maktoum. A secondary prize, the Desert Palm Trophy, was given to the Qatar Airways team after they defeated Cartier's own team 9.5 – 3. Matias Machado of the Bank Julius Baer team was named Most Valuable Player and received prizes from both Cartier and La Martina, the Official Team Kit Supplier.

Source

Tags: Cartier, Desert Palm Polo Club, Dubai, equestrian, polo, Sheikh Mohammed Bin Rashid Al-Maktoum

The United Arab Emirates Welcomes Two Anantara Resorts, Special Deals Welcome You

by Jonathon Ramsey (RSS feed) —

Filed under: Luxury Travel & Hotels, Spas

The Qasr Al Sarab Desert Resort and the Desert Islands Resort and Spa in Abu Dhabi aren't exactly new, but they are Antara establishments and therefore it's probably wise to know about them. The 206-room Qasr Al Sarab was opened in November of last year in the Liwa desert, said to be "designed to leave visitors with a sense of the romance of Arabia." Think, Lawrence of Arabia – the compound is a 90-minute drive from Abu Dhabi proper in an area called the Liwa Empty Quarter, and the Liwa is already a desert to begin with.

The last of that drive is 7 miles of unpaved road, but the reward is a completely self-contained retreat worthy of Zenobia, with poolside villas, three restaurants including a rooftop bar and grill, museum installations of desert and Bedouin artifacts, Desert Excursion Centre to set up camel trekking, desert hiking, and archery, and even a pillow menu with your choice of fluffy things to sleep on. Your failsafe when you need to turn away from the desert is the heated-marble-hammam-equipped Anantara Spa.

The Desert Islands Resort & Spa (pictured) is at the other pole of terrain, built atop one of Abu Dhabi's complex of islands just off the coast. Sir Bani Yas Island is a reserve for endangered Arabian animals, and that was taken as inspiration for Desert Island Resort's safari decor. Outside you'll find hubara birds, oryx and sand gazelles, including the "Dhabi" variety of gazelle that gave the city its name. And again, when the game drives, kayaking among mangrove fields, mountain biking and falconry have got the best of you, there's that rather famous spa with its signature Thai treatments to replenish you.

Tags: abu dhabi, anantara, desert islands resort, dubai, hotel, qasr al sarab desert resort, resort, uae, united arab emirates

Royal Drive Supercar Rally in the UAE

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos, Events, Wealth

As Luxist readers well know the UAE and in particular Dubai and Abu Dhabi are home to some of the most spectacularly ostentatious collections of supercars, often customized within an inch of their lives. Now a new event has been inaugurated in order for the local sheikhs and such to show them off to best advantage. The Royal Drive is a three-day exotic auto orgy featuring an armada of 60 Ferraris, Lamborghinis, Aston Martins, Bentleys, Mercedes-McLaren SLRs, Gemballa Mirage GTs and more, kicking off on March 18. The event will begin at the 5-star Yas Hotel on Yas Island, home to the Abu Dhabi Grand Prix and upcoming Ferrari World theme park. From there the cavalcade will continue to circuit the Abu Dhabi Corniche beach boulevard winding up at the 5-star Intercontinental Hotel at Dubai Creek. That night participants will enjoy VIP treatment at the Elements Music Concert in Dubai Festival City before proceeding on to the Dubai Marina and a wrap party at the Walk at Jumeirah Beach Residences. And yes, you need a gold-plated invitation.

Tags: Abu Dhabi, AbuDhabi, Dubai, rally, supercar, UAE

← Previous Page|Next Page →

dubai

Featured Galleries

HuffPost AOL Social News Most Popular

Also on AOL