Newest megayacht is — literally — a floating city

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The super-rich could soon be able to buy the world's most expensive personal yacht - a floating version of Monaco, the billionaire's playground.

The 500-foot Streets of Monaco yacht is expected to cost more than a billion dollars and features scaled-down versions of the state's famous landmarks, including the Monte Carlo Casino and racetrack.

It boasts a Hotel de Paris, Cafe de Paris, La Rascasse, the Loews Hotel and swimming pools, tennis courts and a Monaco Grand Prix-inspired go-kart track.

The super-ship is the brainchild of Derbyshire-based Yacht Island Design and, if built, would transform the boat industry.

Company director Rob McPherson, director of the British firm Yacht Island Design, said the design is intentionally audacious.

"We wanted to show our capabilities and grab people's attention - I hope it's worked," he said.

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