azzam3A new luxury yacht, built by Lürssen Yachts, is set to take the title of largest motor yacht in the world. Measuring 590 feet long, the Azzam surpasses the 546-foot Eclipse, which is owned by Russian billionaire Roman Abramovich.

‘Azzam’ means “determination” in Arabic.

The owner of the Azzam has yet to be identified, but news sources say the it is probably the royal family of the United Arab Emirates.

The Azzam is powered by jets rather than propeller. It boasts 94,000 horsepower and has an impressive top speed of 30 knots, which is 30% faster than most megayachts.

The vessel is expected to cost more than $500 million.