Bored of 1st class, hyper-rich buy homes on liner
(7)
Updated: 2002-02-20 10:59

Bored by normal first class cruises, the world's hyper-rich get a new liner from Wednesday on which they can circle the globe in sumptuous homes, costing up to $6.8 million.

Shrugging off a global economic slowdown and fears of terrorism after the September 11 attacks in the United States, the owners of 80 out of the 110 apartments sold so far will move on to cruise ship "The World" in coming weeks.

The 43,000 gross ton liner will be blessed on Wednesday in a ceremony in Trondheim, central Norway, where it has been fitted out with everything from four restaurants and a supermarket to a golf driving range and two swimming pools.

"Travel the world without leaving home," private group ResidenSea says in publicity for its vessel, inviting the jet set to buy opulent apartments rather than merely rent a cabin for individual cruises.

But owners will need a Midas touch to stay afloat.

On the globe's first sea-going resort, prices range from about $2 million for a one-bedroom apartment to $6.8 million for a 300-square-metre apartment with three bedrooms and three bathrooms.

"The World", built for $260 million, will make its maiden voyage for some of the richest people on the planet from Oslo on March 6 to Hamburg and then to London before crossing the Atlantic.

Less prosaic destinations in 2002 will include Caribbean islands, Venice, Cannes for the Film Festival, Monaco for the Grand Prix, South America and eventually Hawaii for New Year.

SALES SLUGGISH SINCE ATTACKS

ResidenSea says bookings have been sluggish since the September 11 attacks battered luxury holiday trade on fears travellers parading wealth abroad could be targets of terrorism.

In 1985, the Palestine Liberation Front hijacked the Italian-owned Achille Lauro cruise ship off Egypt They shot dead a wheel-chair bound passenger, 69-year-old Leon Klinghoffer.

Bryn Freberg, spokesman for ResidenSea, said September 11 "didn't help" "But we haven't had any cancellations since then."

Freberg said about half the apartments' owners were from Europe and 40 percent from the United States.

He said ResidenSea, which also offers 88 guest suites for short stays, hoped quickly to sell the remaining 30 apartments.

On top of the basic costs, owners will have to pay an annual charge of five percent of the apartment price for the 320-strong crew and other costs.

That means anyone buying a $2 million apartment will have to pay an additional $100,000 a year And, unlike a villa on land that might keep its value if resold in 50 years' time, "The World" is likely to be scrap.

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