Lurssen's Project M Sells at 125m-Plus, Waits Until 2032

How big is Lurssen's new Project M?

Project M runs past 125 metres and over 6,000 gross tons, one of the largest yachts sold anywhere this year, with construction set for Lurssen's Bremen yard and delivery in May 2032.

Project M is the working name for a new Lurssen superyacht confirmed sold in September 2026, with a length beyond 125 metres and a volume over 6,000 gross tons. That places it among a small handful of yachts in build anywhere that clear both marks at once. The exterior comes from Espen Oeino International, the Monaco studio behind most of Lurssen's largest recent hulls, while the interior goes to RWD, the British design house that has spent the last decade moving from smaller custom yachts into the very largest range.

Construction will run at Lurssen's own facilities in Bremen, the yard's historic home on the river Weser and the site of most of its flagship builds. Delivery is set for May 2032, close to six years from the contract date. No name, hull number or launch livery has been released, and Lurssen has not put out its own statement; the sale surfaced through the three brokerage houses that placed it. At this length and volume, an owner is typically buying space for a helicopter operation, a full beach club deck, several tenders and toys carried in dedicated garages, and crew quarters for a complement well into the double figures, though none of those specifics have been confirmed for this particular project.

What does 'sold' mean for a yacht that has not started construction?

A signed contract at this scale starts years of engineering and refinement before a single plate is cut, and it took three brokerage firms working together to place the order.

Royal Yacht International, Italian Yacht Group and Kitson Yachts all announced the sale, a joint placement that is normal at this end of the market, where a single house rarely carries a project this size alone. Brandon Kummer of Kitson Yachts put it plainly: on a project of this magnitude, the sale is only the beginning, and the years that follow are where the real work happens. Tommaso Chiabra of Royal Yacht International called securing a project of this scale an important moment for his firm, and Boomer Jousma of Italian Yacht Group said the team was proud to be part of it and grateful for the client's trust.

That framing is not brokerage courtesy. A contract signed today buys the owner a construction slot and locks in a design team; it does not buy a finished set of drawings. The interior and exterior concepts still have to be developed into full engineering, tested against class and flag requirements, and refined through years of owner meetings before steel is cut with confidence. Six years between contract and delivery is long by most industries' standards, but it is the norm at the top of the yacht-building market, where the queue for a yard like Lurssen is itself a form of scarcity. Three firms sharing credit on the announcement also points to how these deals actually get done: the buyer's own representation, the yard's preferred sales channel and a third house with a pre-existing client relationship can all have a legitimate claim on a single sale, and none of the three said how the commission itself was split.

Why is Lurssen able to take on another project this size right now?

Project M joins nine other superyachts already under development at Lurssen, including the comparably sized 123-metre Project Elusive sold earlier this summer, so the yard is not stretching into unfamiliar territory.

Lurssen already has nine other superyachts in various stages of development, spanning its Bremen and Rendsburg facilities. The most directly comparable is Project Elusive, a 123-metre yacht sold in summer 2026 that sits close to Project M in both length and ambition. Two orders of this size landing within months of each other says as much about current demand at the very top of the market as it does about any single buyer.

The yard has also been investing in its own capacity outside of individual contracts: Lurssen recently put fifty million euros into its Rendsburg site, adding around 130 jobs, a separate move aimed at keeping pace with a build schedule that now regularly includes multiple 100-metre-plus projects running in parallel. A buyer signing for 2032 delivery is, in effect, betting that the yard's expansion keeps up with its order book over the next six years.

What do we actually know about the price?

Neither Lurssen nor the brokers disclosed a figure, and the widely cited estimate of at least 575 million US dollars comes from a single outlet's reporting, not from anyone party to the sale.

Pricing at this tier is almost never confirmed by the parties involved, and Project M is no exception. Lurssen has made no statement on cost, and none of the three brokerage firms that announced the sale put a number to it. A figure of at least 575 million US dollars has circulated in trade coverage citing unnamed sources, but it should be read as a reported estimate rather than a confirmed contract value.

For a prospective buyer sizing up a project in this range, the lesson is less about this specific number and more about the pattern: at 125 metres and 6,000-plus gross tons, published price guidance essentially does not exist until well after delivery, if ever. Anyone budgeting for a build at this scale is working from yard relationships and comparable projects, not a public price list.

Why does one 125-metre sale matter beyond this single yacht?

Two orders above 120 metres landing at the same yard within a few months signals that demand at the very top of the market has not slowed, even as the wider new-build segment has been more selective.

Most of the yacht-building headlines this year have been about 40 to 80-metre projects, where order books are more sensitive to financing conditions and broader economic sentiment. Project M and Project Elusive sit in a different category entirely: buyers placing orders this large are typically insulated from short-term market swings, and their decisions say more about confidence in a specific yard and design team than about the health of the market as a whole.

For an owner or prospective buyer watching from further down the size range, the practical takeaway is about access rather than price. The yards capable of building past 120 metres are few, their order books fill years in advance, and a sale like this one removes a build slot that will not reopen before the early 2030s. Anyone seriously considering a project at this scale is, in effect, competing for a small number of remaining dates on a handful of calendars worldwide.