Croatian shipyard Brodosplit has clinched an order for a residential cruise vessel that will tour the world from 2024.
Shipowner Storylines — founded by two Australian property entrepreneurs — said engineering work has begun and the first steel cutting is expected later this year.
The LNG-fuelled vessel, the Narrative, will feature apartments ranging from 237 square feet to 2,411 square feet.
Price tags are similarly wide, starting at $300,000 and progressing to $8m for a two-level penthouse suite.
The cost of the actual ship has not been revealed.
"We're thrilled to finally be able to announce the shipyard for the construction of our new LNG-powered residential ship," said Storylines founders Shannon Lee and Alister Punton.
The idea is for residents to "live a sustainable life of luxury and freedom while at sea", the Florida-based company said.
The Narrative will also use innovative reusable energy technologies and energy storage and recovery systems, Storylines pledged.
The design includes a waterfront marina, a microbrewery, an art studio and hydroponic gardens.
Storylines said it wants to provide "an all-inclusive ocean residence and a way of life that is attracting adventure seekers looking for immersive cultural experiences on a global scale".
The plan is to spend three to five days in each port on its itinerary.
Brodosplit is building three expedition vessels for its parent DIV, TUI Travel and Oceanwide, plus an offshore vessel for Triumph Subsea.
The shipbuilder said its next ambition is to secure a dominant position in the residential vessel market.
In 2019, TradeWinds reported that Storylines had sold hundreds of residential units for a vessel that did not yet exist.
The plan at that time was to build the vessel in China for a 2023 start date.
The co-founders initially aired plans to refurbish a used cruiseship, but scrapped that idea for a scheme to order three LNG-powered newbuildings.
The design at that stage was for a 55,000-gt vessel housing more than 1,000 guests.