The futuristic super yacht with an intentional hole in the middle

Previous offerings include a yacht in the form of a swan and another devised to resemble a shark, but Lazzarini Design Studio's latest superyacht concept may be one of its most daring yet.

The futuristic super yacht with an intentional hole in the middle

Previous offerings include a yacht in the form of a swan and another devised to resemble a shark, but Lazzarini Design Studio's latest superyacht concept may be one of its most daring yet.

The Rome-based design team has just unveiled renderings of a brand new 69-metre yacht design with a "gaping hole" right in the middle.

The aptly named Shape concept, which is to run entirely on clean energy, features a huge empty opening in its superstructure, resulting in a wonderfully distinctive silhouette.

READ MORE:

Referred to as the "hole deck," the space is accessible via an entrance on the bow and has steps leading down to the sea level, making it an ideal sun lounging area, and can be customised to suit the owner's requirements.

Meanwhile, the upper deck of the yacht is fitted with a glass-bottomed infinity pool, offering swimmers a fabulous view of the open space below.

The living area, located at the rear of the superstructure, consists of six suites, with room for up to 12 guests.

READ MORE:

"Because of the stylistic choice of placing a void inside the superstructure, space on The Shape is the real luxury," say the designers.

There's also a beach club with a diving platform onboard, a helipad, a garage full of toys and all of the typical amenities you'd find on a yacht of this stature.

Shape, which has an estimated price around US$80 million, will be equipped with a propulsion system powered by hydrogen, and will run entirely on clean energy, with max speed of around 24 knots, or 12 knots when in full electric mode.

The solar panels on its sundeck are to be used to charge all onboard systems.

READ MORE:

Although it's still just a concept, the team at Lazzarini say the unconventional design has been getting a lot of attention from brokers since it was unveiled.

If Shape were to be picked up, it would take around 20 months to build and execute, according to the designers.

The distinctive concept is one of a number of new innovative superyacht designs to be unveiled over the past few weeks.

In September, German shipyard Lurssen debuted a new emission-free superyacht concept inspired by Lewis Carroll's "Alice's Adventure in Wonderland" at the Monaco Yacht Show, while Italian shipyard Tankoa chose the same event to debut its striking steel and aluminum Apache concept.

Source : 9 News More   

What's Your Reaction?

like
0
dislike
0
love
0
funny
0
angry
0
sad
0
wow
0

Next Article

'Ghost towns': Evergrande crisis shines a light on China's millions of empty homes

Evergrande's unravelling is still commanding global attention, but its troubles are part of a much bigger problem.

'Ghost towns': Evergrande crisis shines a light on China's millions of empty homes

Evergrande's unravelling is still commanding global attention, but its troubles are part of a much bigger problem.

For weeks, the ailing Chinese real estate conglomerate has made headlines as investors wait to see what will happen to its enormous mountain of debt. As the slow-moving crisis unfolds, analysts are pointing to a deeper underlying issue: China's property market is cooling off after years of oversupply.

The warning signs have been flashing for some time. Prior to Evergrande's meltdown, tens of millions of apartments were thought to be sitting empty across the country. In recent years, the problem has only gotten worse.

READ MORE:

Mark Williams, chief Asia economist at Capital Economics, estimates that China still has about 30 million unsold properties, which could house 80 million people. That's nearly the entire population of Germany.

On top of that, about 100 million properties have likely been bought but not occupied, which could accommodate roughly 260 million people, according to Capital Economics estimates. Such projects have attracted scrutiny for years, and even been dubbed China's "ghost towns."

Here's a look at some of those projects, and how the problem first originated.

Real estate and related sectors are a massive part of China's economy, accounting for as much as 30 per cent of GDP. The proportion of economic output related to construction and adjacent activities is "far higher than in other major economies," according to Williams.

For decades, that has helped the country sustain rapid economic growth.

READ MORE:

Shares in troubled real estate developer China Evergrande Group and its property management unit Evergrande Property Services have plummeted.

But for years, critics have questioned whether that engine of growth was creating a ticking time bomb for the world's second largest economy. That's in part because of the massive debt many developers took on to finance their projects.

As China's most indebted developer, Evergrande has become the poster child of unsustainable growth, with more than A$400 billion worth of liabilities.

However, "Evergrande is not the only one struggling," noted Christina Zhu, an economist at Moody's Analytics. Over the last few days, a slew of other developers have disclosed their own cash flow issues, asking lenders for more time to repay them or warning of potential defaults.

In a recent report, Zhu wrote that 12 Chinese real estate firms defaulted on bond payments totalling about 19.2 billion yuan (nearly $4 billion) in the first half of the year.

"This accounted for near 20 per cent of total corporate bond defaults in the first six months of the year, the highest across all sectors" in mainland China, she added.

READ MORE:

The pandemic brought activity to a temporary standstill. But construction later roared back to life as China reopened, and the country's property market enjoyed a brief rebound.

Since then, however, the market has sputtered again. And there's no sign of immediate relief.

Over the last few months, "measures of price growth, housing [construction] starts and sales" have tapered off considerably, Zhu noted. In August, property sales, as measured by floor space sold, dropped 18 per cent compared to the same time the previous year, she added.

That same month, new home prices edged up 3.5 per cent "from a year earlier, the smallest growth since the property market rebounded from the pandemic fallout in June 2020," wrote Zhu.

"Residential property demand in China is entering an era of sustained decline," Williams wrote in a research note. He called this "the root of Evergrande's troubles — and those of other highly-leveraged developers."

Then there is the problem of unfinished projects, even if there is demand. The majority of new properties in China — about 90 per cent — are sold before being completed, meaning that any setbacks for home builders could directly impact buyers, according to economists.

READ MORE:

Evergrande, China's largest property developer, is facing a liquidity crisis with total debts of around A$400 billion.

"[This] gives the authorities a strong incentive to ensure that ongoing projects continue as failing developers are restructured," said Williams.

According to recent analysis from Bank of America, Evergrande has sold 200,000 housing units that have not yet been handed over to buyers. That has exacerbated fears that home buyers may be left empty-handed by the country's second biggest developer.

In recent weeks, the government has turned its focus to limiting fallout from the crisis and protecting ordinary people. In a statement late last month, the People's Bank of China vowed to "maintain the healthy development of the real estate market, and safeguard the legitimate rights and interests of housing consumers."

While it did not refer to Evergrande specifically, the central bank has been pumping cash into the financial system lately to help stabilize the situation and calm nerves.

To be clear, not all companies are in dire straits. While some players are clearly struggling, "most developers are not on the brink of default," according to Julian Evans-Pritchard, a senior China economist at Capital Economics.

Evergrande headquarters in Shenzhen, China.

"With a couple of exceptions, most major developers are in a much stronger financial position than Evergrande and should be able to weather a temporary spike in their borrowing costs amid contagion fears," he said in a note to clients. That should provide some reassurance "amid the current market jitters," at least in the short term, he added.

But in the long run, it may matter little.

"Successfully navigating the structural decline in housing demand over the coming decade will prove more challenging," wrote Evans-Pritchard. "A drawn-out consolidation of the sector over many years seems more likely than an imminent wave of developer failures."

Source : 9 News More   

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.