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Boats

Why This Millionaire Bought a Decade-Old Heesen Instead of a Shiny New Superyacht

Entrepreneur Ibrahim Al-Rashid decided to buy the 164-foot “Bijin” instead of building a brand-new one-off. Here’s why.

By Rachel Cormack

2 hours ago
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Photo: Giovanni Malgarini

Ibrahim Al-Rashid’s love for yachts runs deep. The Miami-based businessman grew up cruising the world on his father’s superyacht, the famous Lady Moura, with his mother teaching him how to enjoy life on the sea. It is unsurprising, then, that he wants to recreate that with his own children, aged six, five, and three. What is rather surprising is that he has decided to do it in a pre-owned Heesen. As CEO of commercial real-estate investment company Limestone Asset Management, Al-Rashid has the means to start his own fleet in any which way he pleases. He also has the fortitude for a bespoke build, having recently spent two years designing an Embraer Praetor 600 jet with his wife, Ryann. Still, he decided his first superyacht would be the 164-foot Bijin, exclusively sharing with Robb Report that he closed on the superyacht on January 14. (Bijin was last asking €29.5 million, about $34.8 million at the current exchange rate.) He..

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