Pershing Dubai

Ferretti yachts today launched two luxury waterfront residences, “Ferretti Luxury Beach Residence” and “Pershing Luxury Beach Residence”. The freehold ownership project branded as “Marine Legends” is valued at $1.6 billion US. Unsurprisingly, the development is situated on the Waterfront and offers nearly two million square feet of saleable area.

A.C.I Real estate have been chosen as the selling agents and developer. “This deal has furthered the vision we have at ACI Real Estate, which is to bring world class luxury living to Dubai. The Ferretti Group has been a leading luxury brand for decades now. We at ACI Real Estate want to blend Ferretti’s expertise into our real estate projects and provide our customers with the best of both worlds”, said Robin Lohmann, Managing Director of ACI Real Estate.

Vincenzo Cannatelli, CEO of Ferretti S.p.A., added: “The whole world is coming to Dubai and at ACI Real Estate we have found our match. This strategic venture is a result of mutual professional admiration and recognition of our common values.”

The twin tower Ferretti Luxury Beach Residence and Pershing Luxury Beach Residence will offer landscaped gardens amidst canal and sea views, a pool, fitness center, sauna and Jacuzzi, and a little something else: eight luxury yachts will be permanently based at each property for residents to charter at preferential rates. These yachts will be purchased by ACI Group. The twin tower Ferretti Luxury Beach Residence will have over 44 floors each, while the Pershing Luxury Beach Residence will have over 41 floors, along with individual retail units at the ground floor of each tower. Ferretti Yachts and Pershing Yachts designers are planning to design common areas of the towers.

As far as I recall, this is the first time a yacht maker has ventured ashore in this fashion and I can only hope that their standard sales gimmick of three bikini-clad babes as standard equipment with each new yacht will be applied to the condominiums.

• ACI real estate
• Ferretti Yachts
• Yacht provisioning on the Riviera

By any one’s definition, owning your own castle must be considered the ultimate in luxury real estate. A few attempts have been made to build castles over the last few years, but the prohibitive costs are such that one tends to see over-sized villas or high-rises instead. So, this article deals with what I consider to be genuine castles. Most of them are extremely old and the running costs are such that they could only appeal to a genuinely wealthy individual. By genuinely wealthy, I mean bottomless pockets or you already own a country. (Or an oil company). Most of these are for sale, or available to rent, although some are just fascinating.

Eilean Donan, Scotland

This first one is Eilean Donan castle in Scotland, situated on an island at the point where three great sea lochs meet, and surrounded by some pretty dramatic scenery, particularly in winter.

Eilean Donan Castle, Scotland

Available to rent on a by-the-day basis, although the owners suggest hiring it during the winter if you want to avoid crowds of tourists. Originally built in the 13th century, the castle has been demolished and rebuilt several times over the years and the current incarnation has starred in many films, including Highlander and James Bond - The World is not Enough. Larger versions of the photos here are available for download at the castle’s website.

Dracula’s Castle, Romania

The next castle is often referred to as Dracula’s castle, although the real name is Bran castle.

Bran Castle, Romania

Perched on a cliff near Brasov in central Romania, it is a major tourist attraction, largely because of its ties to Prince Vlad the Impaler, the warlord who inspired Bram Stoker’s 1897 novel, “Dracula.” Legend has it that Vlad spent one night at the castle in the 1400s . The castle was returned to it’s “rightful” owners, the Habsburg family after the fall of communism. Arch Duke Dominic Habsburg immediately offered the castle back to the Romanian government for $80 million but the offer was rejected. It then went on the open market, and I understand it is still available. Baytree Capital, the firm representing the family are of the opinion that the castle will eventually sell for $135 million, although I feel this is a little ambitious - especially with Romanian lawyers still fighting over the the decision to return it to the family in the first place. Time will tell.

Castello di Mazzè, Turin, Italy

This beautiful castle in Turin is available for hire to cater wedding parties at around 2,500-5,500 Euros a day and for sale at around 15 million Euros. (Negotiable). Notable visitors in the past include:  King Vittorio Emanuele II di Savoia, Count of Cavour, Zar Nicola II, Count Brunetta d’Usseaux, Francesco De Sanctis and Benito Mussolini. Originally constructed in the 12th century and rebuilt in the 15th, the founder of the Italian Olympic movement, Count Eugenio Brunetta d’Usseax also lived here.

Castello di Mazze, Torino

Many more castles and photos after the jump More on Luxury Real Estate - Castles

If Luxury Yacht makers can build marinas in Dubai, and movie stars can design hotels there, it makes sense that a fashion designer should be designing houses. Legendary fashion icon, Karl Lagerfeld, has signed an exclusive deal with Dubai Infinity to design limited edition luxury homes on Isla Moda, the world’s first dedicated fashion island, set in the iconic development, The World

Samira Abdulrazzak, CEO of Dubai Infinity Holdings said, “Dubai Infinity Holdings is excited to bring Karl Lagerfeld to the UAE region for the first time as he embarks on laying his footprint on Isla Moda. He is the first of five iconic designers who will shape Isla Moda into an international destination. This is a very important phase in the development and begins a new chapter for fashion in Dubai. Karl Lagerfeld’s exquisite work transcends demographics and is idolized by fashionistas in Dubai.”

Lagerfeld’s collaborations with avant-garde fashion labels such as Chloe, Chanel and Fendi have propelled him to Fashion Icon status, although he is also famous for losing 40 kilos in weight just to be able to wear a particular designers clothes.

His passion for photography took him behind the lens, creating his own campaigns and artistic photography, which are shown in the most famous galleries and museums all over the world. This obsession for photography and books naturally lead him to open his own bookshop on the leftbank of Paris and start a new venture as a publisher of art books with his publication house, 7L. He has implemented his passion for interior design by creating several different designs for his own properties, which reflect his artistic vision.

“The metamorphosis of art and beauty is my passion. The discovery of contemporary mediums of expression has allowed me to pursue my interest in art, beauty, architecture and progressive cultural exchange,” said Karl Lagerfeld. “Dubai is a fashion bud on the verge of blossoming into the next fashion hub of the world. The city is alive with culture and rich in personality, making it a perfect place for aesthetic, fashion and design to flourish. Isla Moda has tremendous potential to be the style icon of the future and I intend on driving the island to high style stardom,” he added.

Karl Lagerfeld is the first of five designers who will contribute to the Isla Moda Development.

At the signing ceremony, Ms Abdulrazzak, wearing a hijab, the traditional Muslim headscarf, said, “We believe that the synergy of cultures will propel Isla Moda into international status making it an iconic landmark on the fashion world map. The most important aspect of this collaboration is the fact that we share a common vision”.

Karl Lagerfeld’s website

Dubai Infinity Holdings

What is up, what is down, and where is the luxury market going? As usual, conflicting reports, a little spin and some frankly bizarre occurrences keep the luxury market as entertaining as ever.

The Independent, a British Newspaper that could best be described in American terms as “left wing libertarian,” reports that “Luxury Yacht makers get that sinking feeling,” after a two-year-old Manhattan 66 yacht failed to sell after being heavily discounted and offered at a special reception in Canary Wharf, London. The yacht would normally sell for around $2.5 million, but remained unsold after the manufacturers offered a substantial discount of $200,000.

A slashed bonus is one thing; a depleted expense account another. But, even in these times of strife and slimmed-down pay packets, what self-respecting City hotshot can be expected to do without a yacht?

The prospect of credit crunch belt-tightening hitting yet another of the staples of the super-rich lifestyle was raised yesterday as luxury yacht makers admitted that discounts are now available. Full story.

Although I get the feeling this is more a case of wishful thinking on behalf of the Independent’s editor who must have lost his shorts in the sub-prime fiasco. One failed-to-sell yacht does not a disaster make. And if anyone is interested, I have a friend in Spain with a three-year-old for sale and I know he would happily take less than this.

On a slightly more bizarre note, Donald Trump appears to think that nothing says luxury quite like watching two 300-lb men beat the crap out of each other in a cage. Mixed Martial Arts Online recently announced a new partnership between “Affliction,” who describe themselves as “the premier fashion label for men who love hard rock and fast living,” and Mr. Trump with their first event, “Affliction Banned,” on pay per view on July 19th.

At a press conference held in Trump tower, Mr. Trump said:

This particular sport resembles my business style of being fast paced, strategic, and aggressive…remembering to never give up. I am particularly excited to partner with Affliction and become a major player in promotion of MMA; the youngest and fastest growing sport to emerge in the last century.

Mr. Trump is rapidly becoming my favorite quotable person and other news to come out of the conference was the return to competition of Fedor “The Last Emperor” Emelianenko, who will be headlining alongside Andrei “The Pitbull” Arlovski, “Big” Ben Rothwell and Tim “The Maine-iac” Sylvia. I am stopping there in case I upset the wrong people. Full story here.

Back across the pond to the UK, the “Environmental Transport Association,” (ETA) announced the “Most Expensive bicycle in Britain,” a $19,000 gold-plated, custom made fixed-wheel that comes with the optional accessory of a security guard to watch over it when it is left in public.

With less than 10 days before the start of Green Transport Week, it is believed the bike may be bought by a ‘cyclist who has everything’.

Director at the ETA, Andrew Davis said: “A personal security guard is not a practical option for most people, but with over half a million bicycles stolen across Britain each year, it’s vital that cyclists are properly insured.” Full story

It might actually be the most expensive bike in Britain, but it pales in comparison with Lance Armstrong, whose charity, The Lance Armstrong foundation, sold a jewel encrusted, gold plated Trek Madone 5.9 SL back in 2005.

Maîtres du Temps, master watchmakers, announced their new Chapter One in Geneva recently. The watch features “a tourbillon with mono-pusher column wheel chronograph, retrograde date, and retrograde GMT, as well as moon phase and day of the week on their own rolling bars.” I don’t even know what that means. 558 components and a price tag of $400,000, I do understand. According to their sales brochure:

The level of technical and design sophistication achieved by Maîtres du Temps has rarely been seen in watchmaking and is the result of the right combination of people sharing a bold vision.

Just in case you missed it, that is four hundred thousand dollars. For a wrist watch. Ouch….

Maîtres du Temps

It would appear that the luxury market for champagne is as robust as ever with a recent announcement from Veuve Clicquot.

Staying in Europe, but coming down the price scale just a tad, French champagne maker, Veuve Clicquot, announced a design collaboration with luxury yacht manufacturer, Riva to produce the “cruise collection,” a craftsmen-produced champagne cooler. Riva, who make possibly the sexiest speedboats on the planet use traditional materials such as mahogany wood, chrome and leather with traditional boat making techniques to produce these beautiful coolers. The “cruise collection,” is made to measure and comes complete with four bottles of Veuve Clicquot :”La Grande Dame ’99, 2 magnums of La Grande Dame ’88, 6 champagne flutes, 6 water tumblers, plates, table mats and cutlery. Price - $80,000. A bargain compared to the watch Veuve Clicquot

It would also appear that the luxury market for champagne is as open to abuse as all other markets as the message received when entering the Veuve Clicquot website is this

Dear websurfer,

A promotional deal is currently on the ‘net regarding a free offer of a case of 6 bottles of Veuve Clicquot champagne.

This is a hoax, totally beyond our control; and of course, we are not the author. We do not gather any e-mail nor build up any database.

We strongly condemn the author of this hoax and hope that it will end.

Yours sincerely,

Veuve Clicquot Ponsardin

This is a very French reaction. Customer service? Pas possible! Caveat Emptor

Heading East, Reuters report that luxury goods makers are shooting themselves in the foot by producing goods with a “Made in Asia,” label, and a Chinese customer in China was incensed to discover that genuine Armani is actually made in China, but the fakes say “Made in Italy.”

The makers are, of course trying desperately hard to persuade consumers that cost-cutting by moving manufacturing plants to countries where child slave labor is readily available is actually a step up.

“At the end of the day, we are talking about perception. There is no reason why you can’t make good things anywhere in the world, as long as you have the artisans and attention to quality,” said John Hooks, deputy managing director at Giorgio Armani.

Good luck with that. Full story.

Time magazine and F. Scott Fitzgerald seem to think that luxury retailers are making another big mistake by not offering more of their products online.

That reticence is a big mistake, Forrester says, because the growth in online sales shows no signs of easing. In Europe alone, total online sales should rocket 63% from an estimated $246 billion this year, to $401 billion in 2011, it predicts. In the U.S., total sales are expected to soar 93% from last year to $335 billion in 2012. Premium brand companies that are selling online expect their total sales to jump 111% within five years, by which point they will account for 22% of total sales.

While at the same time (sic) accusing luxury brands of “jumping on the e-commerce bandwagon.” Make your mind up guys. If Armani can convince people that making T-shirts in obscure far Eastern countries is a step up in the luxury world, you have to give them some credit. Full story.

Over in Australia, luxury car dealers are confused as to whether or not they should start charging a new luxury tax because of conflicting advice coming from the Australian Taxation Office. The Australian reports:

The Government increased the tax on luxury cars worth more than $57,000 from 25 per cent to 33 per cent in its May budget, but last Wednesday the Senate refused to pass legislation implementing the change, instead referring it to a committee that will not report until late August.
The tax office told Federal Chamber of Automotive Industries chief executive Andrew McKellar last Thursday that the tax would be collected retrospectively - backdated to July 1 - after the legislation eventually made it through the Senate. Full story

All in all, an entertaining start to the luxury week.

It would appear the Luxury Yacht market is as robust as ever. Superyacht builder Oceanco are working on two new projects.

Oceanco made headlines recently with the launch of their 75-meter “Y703,” Anastasia. I know I will get accused of gushing, but this yacht is stunning. Australian designer Sam Sorgiovanni is responsible for both the exterior lines and the interior design work. Not only is she stunning, she is big. Her garage holds a 9.5 meter limousine, a similar sized sports runabout, four jet skis and a selection of other toys.

The owner’s accommodation is on two levels and other accommodations include two V.I.P suites, 3 double cabins, a movie theater, massage room and medical room. Crew compliment is 20 and she is powered by twin 3648hp MTU 16V M90 engines producing a top speed of 18 knots. Each Oceanco yacht is unique and completely custom-built to the owner’s own specific preferences, requirements and taste. I think this one is for private use only, but as an example of costs, one of her sisters the Lady Lola, is available for charter – cost - $380,000 per week, in-season. During the recent work in Holland, a temporary shed was built at a cost of 300,000 Euros, so….

Photo Credit
The new projects currently underway:

PA077 is an an 85.50 meter luxury superyacht with a helipad on the aft upper deck facilitating direct access to the spacious aft dining/lounge area and 3.5 x 4.5m pool. The owners’ deck is situated above the upper deck and is totally dedicated to the owners: a full beam master suite with a panoramic view and two wind protected settee areas port and starboard side; a comfortable 2 x 1.50 m central tub in the bathroom; his and hers dressings: a library and office with private access to the aft deck with Jacuzzi.

PA076 version 1, with her nearly vertical bow, is a stunning and unique 91m (298.60ft) concept. The Oceanco in-house design team gave this concept a sophisticated retro look. The upper deck is totally dedicated to her owners and includes a vast mid his & her bathroom and impressive suite with office, library and walk-in wardrobe. More details

Oceanco Although, while their boat designing and building skills might be spectacular, the same cannot be said for their online presence. Auto-play music and not a video in sight? The 1990’s are over and done with.

This year’s Hatteras Yacht Expo is scheduled for May 30 - June 1 in historic New Bern, North Carolina. The Yacht Expo offers a one-of-a-kind experience for a select few who own a Hatteras or are interested in purchasing one.

The show is built around the debut of the new Hatteras 56 Motor Yacht, and offers the opportunity to be one of the first to tour this amazing new offering from Hatteras - and even take a ride. You’ll also be able to schedule rides aboard other vessels in the Hatteras fleet and meet with key team members in a relaxed, festive atmosphere. Team Hatteras and key vendors will be your captive audience as you have your boating questions answered, see the facility at your own pace, and spend some creative time with their product development team to explore your idea of the perfect yacht.

It look as though they will also make sure that you also have lots of fun: great music, side-splitting comedy, excellent food, and a few surprises to keep you entertained during your stay. With boat handling classes, fishing seminars, fitness sessions, book signings, family caricatures and more it sounds like a great weekend

The 56 Motor Yacht features a pair of 705-hp Cummins QSM11s as standard equipment, installed in a V-drive configuration with the gearbox forward. This positions the engine room as far aft as possible and allows for more living space below. Combined with the boat’s 18-foot 2-inch beam, this configuration gives the 56MY as much interior volume as many yachts in the mid-60-foot range.

Powered by its standard engines, the 56 Motor Yacht is expected to achieve a cruising speed of 18 knots and top end of 21 knots. With her 900-gallon fuel capacity, that provides a usable range of approximately 300 nautical miles. Optional 1,000-hp CAT C18s will push the 56 to a cruise of 26 knots and a top end of 29 knots.

The 56MY features a three-stateroom, two-head arrangement that includes a 130-square-foot full-beam master stateroom amidship, a VIP stateroom forward, and guest bunks to port. An optional arrangement provides for a private crew quarters with discreet access, in lieu of the third guest stateroom.

Full details here - Hatteras 56 Motor Yacht

More interesting Yacht information:

Provisioning a luxury yacht on the French Riviera

Oceanco - Luxury Yacht Maker

Just where exactly does one go for 12 dozen bottles of Dom Perignon Vintage champagne, 50 kilos of top notch veal steaks and still make sure there are enough eggs for the crew for breakfast in the morning?

Something rarely talked about in the luxury market is the behind the scenes aspect of provisioning a large yacht. Feeding 200 guests is a major undertaking, especially when a high caliber of food and drinks are required.

Anyone who has ever had the pleasure of shopping on the French Riviera will know just what a chore finding things can be. Particularly if you need them this week, and wish to avoid killing the shop assistant when he shrugs, says the immortal words, “pas possible,” and turns his back on you to continue his very important conversation about how annoying all the tourists are at this time of the year.

So an entire industry has sprung up around the provisioning needs of luxury yachts and villas based along the French Riviera.

Like any other aspect of the luxury market, there is luxury and there is luxury. I was fortunate enough to be recently invited to sample some of the wares of one particular luxury supplier, Shore Solutions.

I am not sure if I should consider sausages a bribe, but it has worked, and persuaded me to write about Shore Solutions. I ate what has to be one of the best sausages I have ever tasted. Chicken and sun dried tomato. Hand made to order in London and flown in as needed. Sausages are one of the more minor items in their catalogue, but to give you an idea of the level of service, they offer bespoke recipes, hand made, with a guarantee that they will not supply that particular recipe to any other customer.

Included in their 200 page catalogue are products from a huge range of luxury market-leading brands, including Moet Hennessy, Maison du Chocolat, Jo Malone, Penhaligons and The White Company.

The catalog lists their basic stock, but their forte is sourcing unusual and difficult-to-find products, and nothing is too much trouble. If you really must have red Hawaiian sea salt dried in the Wednesday afternoon sun, cinnamon rolled on 15-year-old virgin’s thighs from a small village in the Himalayan foothills, or some other outrageous luxury, give these guys a try. I mean, for goodness’ sake, they have 42 different salts in the catalogue and are still not satisfied they have a large enough selection.

And then there is their wine cellar. I am not ashamed to admit I prefer a higher quality beverage, but I am ashamed to admit I didn’t know there were that many premium Vodkas - 200+, including the world’s first luxury vodka made from fine French grapes. Along with more than 400 fine whiskeys and bourbons, plus a massive range of fine vintage champagnes and wines.

Another reason I have chosen to write about this company (apart from the sausage bribe) is the fact that they refuse to be drawn into the usual back-handers-for-orders, the bane of the yacht owner. While others are scrambling about offering kick backs, they stand aloof, offering instead, unparalleled service and quality. Just don’t tell them you are on a tight budget. If you must have it by Friday morning at the latest, the last thing they want to hear is that it was cheaper from the last guy who let you down.

Shore Solutions deliver all over the world, from Antigua to Venice, Sardinia to the Seychelles. They are based in London, but have local offices in Antigua and Nice.

Their operations manager in Nice is Luc Perrone, responsible for all aspects of the operation during the Med season. Luc speaks fluent French, Italian and English and can be reached on:

Tel - +33 (0) 63 17 79 403

Email - Luc Perrone

Company contacts:

Worldwide orders - +44(0)207 403 2552
French orders - +33(0) 49 37 13 649