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The son of a Dubai real estate tycoon known as the "Donald Trump of Dubai," who built a multi-billion-dollar fortune in ultra-luxury real estate, purchased the US government-seized superyacht Amadea and turned it into his floating office.

In early June, just two days before the Monaco Grand Prix, 27-year-old Dubai developer Abbas Sajwani was hosting guests on the main deck of his 106-meter superyacht, the Amadea. Dressed in a white linen shirt and gray trousers, the young billionaire with a $1.9 billion net worth looked right at home at the peak of his success. Docked off the coast of the principality, he wasn't discussing vacation plans, but rather massive business deals: shortly before this, his development company, AHS Properties, acquired the Shangri-La Dubai hotel for $300 million, Forbes reports.

A Floating Palace with a Gold Elevator

The superyacht Amadea has a remarkable history. Built in 2017 by the German shipyard Lürssen, US authorities stated it was originally constructed for Russian billionaire Suleiman Kerimov. In May 2022, the FBI and Fijian authorities seized the vessel in the port of Lautoka. Following transport to San Diego and legal battles, the US Department of Justice put the yacht up for a secret auction. Sajwani, who had already eyed the vessel during its brief stint on the market in 2020, won the bidding last September, beating the runner-up's offer by just $1 million. Today, the floating palace is valued at $250 million.

The six-deck Amadea stuns the imagination with its luxury. On board, it features a gold elevator mechanism between decks, teak walls with the finest inlay work, a bar made of Greek marble from the island of Thasos, and a unique handcrafted Pleyel piano.

Additionally, the vessel is equipped with a ten-meter infinity pool on the stern with a swim-up bar, an open-air cinema, and even a helipad temporarily converted into a pickleball court.

"Many people say they are taking the boat on vacation. For me, it's not like that. It's more of a place to live," Sajwani confesses. "My routine on the yacht is the same as in Dubai: Zoom calls and business meetings on weekdays, and relaxation on weekends."

From Stock Trading to Ultra-Luxury

Abbas is the son of billionaire Hussain Sajwani, the founder of the DAMAC giant and a long-time acquaintance of Donald Trump. However, the young entrepreneur is forging his own path in the premium segment. After receiving a starting capital of $100,000 from his father in his teens, Abbas successfully tried his hand at stock trading, earning about $25 million by 2021 from shares of American companies Simon Property Group and Capri Holdings.

Investing his funds into luxury villas in prestigious areas like Emirates Hills and Palm Jumeirah, he soon shifted his focus to acquiring land along the Dubai Water Canal, where the luxury residential complex One Canal was built. In addition to the recent massive purchase of the Shangri-La, the businessman's plans include launching the ambitious AHS City project by 2030, as well as acquiring the London mansion The Holme in Regent's Park for $260 million.

Despite a temporary cooling of the Dubai real estate market, Sajwani remains ironclad in his confidence regarding the prospects of the luxury segment. He successfully continues to balance running his fast-growing business empire with life aboard a superyacht cruising between the French Riviera and the Caribbean.

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