A Look at the Transformative History of the H3 Yacht
The H3 yacht, formerly known as Neom and Indian Empress, was constructed by renowned yacht builder Oceanco in 2000. Designed by The A Group, it was initially named Al Mirqab for the prime minister of Qatar. For several years, the yacht was owned by Vijay Mallya, who renamed it Indian Empress.
Revamped and Rebuilt
In 2022, the H3 yacht underwent a significant transformation by Oceanco in collaboration with designer Reymond Langton. The vessel’s length was increased from 95 meters to 105 meters, and the entire yacht was restyled with a fresh interior. Now registered to a company named Freedom 105 LTD and based in Spain, the yacht is known as H3 (ex Hull 1050H).
Impressive Specifications and Interior Features
Powered by MTU engines, the H3 yacht has a maximum speed of 24 knots and a cruising speed of 18 knots, with a range of over 3000 nautical miles. The vessel can accommodate 32 guests and a crew of 42. Boasting luxurious amenities such as an entire deck dedicated to the master suite, the H3 yacht also features a gym, sauna, and steam room.
Ownership History and Current Owner
The current owner of the H3 yacht is Saudi billionaire Waleed bin Ibrahim al Ibrahim, chairman and owner of MBC Group, one of the largest media companies in the Middle East and North Africa. Previously, the yacht was owned by Qatar-based Hamad bin Jassim al Thani and then by Vijay Mallya, who purchased the yacht in 2006 and renamed it Indian Empress.
Estimated Value and Costs
The value of the H3 yacht is estimated at $100 million, with annual running costs of around $10 million. The price of a yacht can vary greatly depending on factors such as size, age, level of luxury, materials, and technology used in its construction.
From Auction to Neom and H3
In 2018, the Indian Empress yacht was sold in an auction ordered by a Maltese Court due to unpaid debts by Mallya. The yacht was subsequently sold for €35 million, briefly owned by a member of the Saudi Royal Family, and renamed NEOM to promote the new city of NEOM. Later, Waleed bin Ibrahim al Ibrahim acquired the yacht and renamed it H3 after his wife Hana.
Acclaimed Yacht Builder: Oceanco
Oceanco is a prestigious luxury yacht builder based in Alblasserdam, Netherlands. Founded in 1987, the company has gained recognition as one of the most respected yacht builders globally. Oceanco specializes in crafting custom-made luxury motor yachts ranging in size from 80 to over 300 feet in length. Known for their exceptional craftsmanship, innovative design, and use of advanced technology, Oceanco yachts are the epitome of luxury and functionality. The company employs a team of experienced designers, engineers, and shipbuilders who collaborate to create awe-inspiring vessels. Notable projects include Jeff Bezos’ yacht KORU, Bravo Eugenia, and Seven Seas.
The Vision of NEOM
NEOM is an ambitious city project proposed for the northwest region of Saudi Arabia. Envisioned as a hub for advanced technology and sustainable living, the city is being developed as part of Saudi Arabia’s Vision 2030 plan, aiming to diversify the country’s economy and reduce its dependence on oil. Linked to Crown Prince Mohammed bin Salman, the term NEOM can be roughly translated as ‘New Future’. Learn more about this groundbreaking project here.
From its inception as Al Mirqab to its current status as the H3 yacht, this luxurious vessel has undergone various transformations and ownership changes. Today, it stands as a testament to the exceptional craftsmanship and design of Oceanco and its collaborators. The H3 yacht, with its impressive specifications and extravagant amenities, showcases the pinnacle of luxury and style, attracting the attention of yacht enthusiasts and billionaires alike. As the H3 yacht sails the seas under the ownership of Saudi billionaire Waleed bin Ibrahim al Ibrahim, it continues to be a symbol of opulence and grandeur.
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