The Return of Al Lusail: A $35 Million Makeover
The most luxurious yacht in the Persian Gulf has recently resurfaced after several months out of sight. The Emir of Qatar’s superyacht, Al Lusail, had undergone a significant overhaul, although the exact nature of the repairs remained somewhat of a mystery. This striking vessel, renowned for its grandeur and size, was noted to look virtually new upon its return off the coast of Gibraltar.
A Price Tag Fit for Royalty
The costs associated with this transformation are astronomical by most standards, exceeding $35 million for what many would consider a simple “paint job.” Such lavish expenses exemplify why superyacht ownership is often exclusive to the ultra-wealthy. Al Lusail is 123 meters long, capable of accommodating 36 guests and a crew of 56. Designed by renowned manufacturer Lürssen, this yacht was commissioned in 2017, paving the way for its recent necessary refurbishments.
Hidden Away for Maintenance
This majestic yacht disappeared from its usual Spanish ports and spent the last seven months at the Lürssen shipyard in Bremen. The work performed during this time included technical reviews, inspections of the hull, and maintenance of its propellers and rudders, as well as upgrades to the HVAC systems.
The Cost of Care
The hefty price tag does not merely stem from cosmetic changes. According to industry experts, maintaining such a massive vessel weighs nearly 8,500 tons involves extensive preparation. Much of the cost, estimated around $35 million, is attributed to repainting, which necessitates the removal of hardware, railings, and window seals. In fact, preparation work, including sanding and corrosion treatment, accounts for about 70% of the entire repainting process.
The Astonishing Painting Bill
When it comes to the actual paint job, the fees for Al Lusail soar to approximately €13 million (or $15 million). Given the yacht’s unique design—resembling a six-to-seven-story building with numerous decks and expansive glass facades—this cost is not surprising. By contrast, a medium-sized vessel might only incur repainting expenses in the low hundreds of thousands of euros.
Ongoing Maintenance Expenses
Additional costs accompany the repainting efforts, including mechanical checks, inspections of the electrical systems, and the renewal of fabrics and furniture. Such expenditures align with the well-established rule that the maintenance of a yacht typically equals about 10% of its purchase price. With Al Lusail estimated at around $500 million, these maintenance costs are mere pocket change for its owner.
The Owner Behind the Luxury
Owner Tamim bin Hamad Al Thani, the Emir of Qatar, hails from one of the most influential dynasties in the Arab world and oversees one of the largest sovereign wealth funds globally, managing an impressive $475 billion in assets. Notably, he has even provided a Boeing 747 from his personal fleet as a temporary Air Force One in the United States. With the yacht now gleaming and fully operational, Al Lusail is set to enjoy another Mediterranean summer, likely without the Emir even noticing the financial dent left in his wallet.
Now back in the water, the Al Lusail stands as a testament to opulence and a reminder of the staggering costs involved in maintaining such a grand vessel.