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Andreas Panayiotou - Yacht -Yacht Name: Ability - Yacht Length: 41m (135 ft) - Guests: 10 in 5 cabins - Crew: 8 in 4 cabins - Yacht Value: US$ 10 million - Owners Name: Andreas Panayiotou - Panayiotuo Net Worth: US$ 500 m - Owners Company: Ability Group - Owners Country: UK -The Ability Group is on of the UK’s largest property developers. His current yacht was built as RC for fashion designer Roberto Cavalli.
Yacht Ability - Andreas Panayiotou
The yacht Ability is owned by Andreas Costas Panayiotou, founder of The Ability Group.
The Ability Group is active in the UK and European real estate development. The group has developed more than 7,000 properties in the UK. The Ability Group has 800 employees. The UK holding company Ability Developments Ltd has an equity of GBP 63 million (US$ 80 million), but the group’s holding is based in Cyprus and does not disclose figures.
Andreas Panayiotou was the son of Cypriot immigrants and was raised in London. He wanted to become a professional boxer, but his parents asked him to join their dry cleaning business. His first action in real estate was the development of flats above the dry cleaning shop.
The group is now one of the largest real estate developers in the UK. Since Ability was formed in 1996, they built up a significant presence within the UK and European property markets, across Residential, Commercial and Hotel sectors.
Panayiotou has owned many yachts, all named Ability. His current yacht is a 41 meter Baglietto, built in 2004 as RC for Roberto Cavalli. His previous yacht was a Mangusta 130 built in 2005, she is sold and now named Shane. And before that yacht he owned a 54 meter CRN yacht, now known as Alouette II.
Panayiotou owns a Bombardier DB 300 private jet with registration G-MRAP. The jet had a costprice of around GBP 7 million (US$ 10 million) and was built in 2004. The jet bears the logo of the Ability Group.