The Legendary Nabila  Yacht

The Nabila yacht was built at Benetti's shipyards in Viareggio and delivered in 1980. Measuring 281 feet and featuring 11 suites, a cinema and helipad, she was one of the world's largest yachts at the time and without doubt the most opulent. In 1983 the Nabila played an important role in the James Bond movie Never Say Never Again; a few years later she was seized by the Sultan of Brunei and sold to Donald Trump.

She was bought by her current owner, Prince Al-Waleed bin Talal, in 1991. The photo below shows her berthed at Antibes, France.

Adnan Khashoggi

The Nabila was commissioned in 1978 by billionaire arms dealer Adnan Khashoggi. Named after Khashoggi's daughter, she was built at Benetti's shipyards in Viareggio and delivered in July 1980. Interior design was managed by Luigi Sturchio; the exterior was designed by English-Australian yacht designer Jon Bannenberg. The yacht was powered by twin Nohap Polar engines, giving her a cruising speed of 17 knots and a top speed of 20 knots.

The Nabila soon became known the world over for her sumptuous interiors, opulent suites and ostentatious luxury. The yacht spanned 5 five decks and featured every conceivable amenity. The 11 suites were paneled with chamois leather and bird's-eye maple; bathrooms were decked out in gold and onyx. Khashoggi's suite not only had its own saloon, office and sauna, it also had an elevator that went up to a private sun lounge.

The main saloon featured a waterfall, bronze bar, and grand piano gifted to Khashoggi's wife by Liberace. Other amenities included a 12-seat cinema, a disco, and a medical clinic with its own operating theatre. No one really knows how much the yacht cost to build, though some estimates give $35 million for the exterior and $50 million for the interiors.

The Nabila had a major impact on the global yachting scene and changed the industry in two significant ways. First, her flamboyant Saudi Arabian owner inspired other Middle Eastern businessmen to commission luxury yachts of their own. The trend began in the early 1980s and continues to this day. Second, her innovative design and extravagant interiors opened eyes to what could truly be achieved if money were no object.

The Nabila yacht had 11 suites, all named after precious stones or metals. The bedroom shown here is the Ruby Suite. The other photo shows part of the main saloon, with the bronze bar visible on the left.

Khashoggi and Benetti: Financial Ruin

Adnan Khashoggi often claimed to be the world's richest man and at times spent up to $250,000 a day to support his lifestyle. He started experiencing cash flow problems in the early 1980s, however, and towards the end of the decade the debt bubble burst. First to go was his private DC-8. The jet was grounded in 1986 when he defaulted on a $15 million loan. Following that, he defaulted on a $50 million loan issued by a Swiss bank and guaranteed by the Sultan of Brunei. The loan had been used to finance the construction of the Nabila.

The Sultan settled the loan himself, seized control of the Nabila and promptly put the yacht on the market. A handful of potential buyers took interest – one of whom was a New York real estate developer named Donald Trump.

The Nabila also took its toll on Benetti. The shipyard had seriously undervalued the costs of constructing the yacht and was hit hard by a series of penalty clauses added to the contract by Khashoggi's negotiators. The contract was overtly biased in Khashoggi's favor, and even allowed him to request changes during the final construction stages. Ultimately the yacht was built at a loss, and by 1985 Benetti was teetering on the verge of bankruptcy.

A young Italian named Paolo Vitelli stepped in. Sixteen years earlier Paolo had founded Azimut Yachts and built the company into a global brand. In a bid to rescue Benetti and take control of their Viagreggio shipyards, he invested every cent he had to bail out the ailing giant. It was a huge risk, but one that paid off. The new company became known as the Azimut Benetti Group and the rest, as they say, is history.

On the subject of history, remember Sean Connery's role in the James Bond movie, Never Say Never again? The Nabila yacht is shown at bottom right.

The Trump Princess

The Sultan of Brunei's broker put the Nabila up for sale in 1987 with an asking price of $50 million. Donald Trump offered $15 million, the broker dropped to 32, Trump countered with 28, they settled on 30. A further million was taken off when Trump agreed not to keep the name Nabila and rename the yacht as he saw fit. Until this deal took place, the highest price paid for a secondhand yacht was $16 million.

Trump had actually had his eyes on the Nabila for quite a while. He'd been expanding his casino empire in Atlantic City and realized the Nabila could function both as a business tool and tourist attraction.

Trump renamed the yacht Trump Princess and spent $8.5 million having her refitted. The hull was repainted, the engines rebuilt and more than 3500 yards of chamois leather stripped out and replaced. As a finishing touch, the letter H on the helipad was swapped for a T. When done, the yacht set sail for America and cruised into New York on July 4 1988.

In April 1990 Trump opened his third gambling resort in Atlantic City, the $1 billion Taj Mahal. It was New Jersey's tallest building and the world's largest casino. But to survive it needed to take more than $1 million per day just to service its loans, and the market simply wasn't there. Trump's lenders intervened. They insisted he restructure his organization and sell the Trump Princess. Once again, Adnan Khashoggi's superyacht was up for sale.

Prince Al-Waleed bin Talal

Prince Al-Waleed bin Talal bought the yacht in 1991 for $19 million. One of the world's richest men, Prince Al-Waleed bin Talal is founder, CEO and majority stock owner of the Kingdom Holding Company, a company with global interests that include financial services, media, agriculture and real estate. After taking possession of the Trump Princess, Prince Al-Waleed bin Talal renamed the yacht Kingdom 5KR, where 5 represents his lucky number and the letters K and R are the initials of his children. Since the acquisition, Kingdom 5KR is almost permanently berthed at Antibes in the south of France, though from time to time she ventures out to nearby Cannes and Monte Carlo.

The Kingdom 5KR is shown below. The exhaust funnels have been a distinctive feature of this yacht ever since she was launched. They are angled outwards to accommodate the helicopter.

Pinnacle Marine New Zealand

Pinnacle Marine has years of practical experience dealing with luxury yachts and is supported by a network of contacts throughout the industry. If you would like more information about the Azimut Benetti Group, or anything else connected with luxury yachts, please get in touch.