Inside Aussie Rich Lister Ian Malouf’s Stunning €35 Million Superyacht Rebuild

After selling his Dial-A-Dump empire to Bingo Industries back in 2019, self-made don Ian Malouf is now living out the era where he actually gets to enjoy the fruits of his labour. Aside from collecting coveted slices of Sydney real estate like they were tazos, this entails tending to a fleet of superyachts via his latest venture: Ahoy Club. Take, for instance, the legendary Coral Ocean – which has recently undergone an extensive €35 million / $53.2 million rebuild.

Originally dubbed Coral Island, the gorgeous luxury sea vessel you see today was first delivered back in 1994. Designed by the Aussie “godfather of modern yacht design” Jon Bannenberg, at 73-metres, Coral Ocean was one of Lürssen’s largest projects. Although it remains one of the renowned shipyard’s most iconic to this very day.

In 2019, Ian Malouf acquired Coral Ocean directly from Lürssen at the Monaco Yacht Show, marking the beginning of a new chapter. The year after, of course, was when life as we knew it forever changed. But with the introduction of COVID-19 – and the standstill it instigated across the board – this was the perfect time for an upgrade. After a worldwide search, the Astilleros de Mallorca shipyard was chosen for Coral Ocean’s major rebuild. €35 million / $53.2 million and a few years later, here we are.



Inside Aussie Rich Lister Ian Malouf’s Stunning €35 Million Superyacht Rebuild
Inside Aussie Rich Lister Ian Malouf’s Stunning €35 Million Superyacht Rebuild

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“Coral Ocean has been transformed on similar principles of perfection [to Mischief], oozing luxury and elegance in every way,” notes Malouf’s Ahoy Club.

“The ability to accommodate up to twelve guests across six beautiful staterooms remains unchanged. However, all guestrooms have now been elevated to be of equal quality leaving every guest onboard feeling like the owner.”

The ship’s dining spaces have also been completely re-imagined to provide ample opportunity for both an alfresco feed and decadent formal affairs in the dining room.

Over onto the sundeck, you’ll find a newly created sky lounge, spa pool complete with a glass floor, spacious lounges for sunbaking, as well as an indoor bar with floor-to-ceiling retractable glass windows – “for the ultimate indoor-outdoor experience.”

Coral Ocean Ahoy Club Ian Malouf
Inside Aussie Rich Lister Ian Malouf’s Stunning €35 Million Superyacht Rebuild
Coral Ocean Ahoy Club Ian Malouf

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“The rebuild of the Owner’s Deck was just as significant with the master bedroom space doubling in size,” adds Ahoy Club.



“At the entry, the two-metre skylight looks towards the pool located on the Sundeck. The second skylight is located directly over the master bed and is completely blacked out during the evenings.”

“The windows underwent a significant change by extending the glass to offer panoramic 180-degree views from your super-sized king bed.”

Coral Ocean Ahoy Club Ian Malouf
Inside Aussie Rich Lister Ian Malouf’s Stunning €35 Million Superyacht Rebuild
Coral Ocean Ahoy Club Ian Malouf

The master bedroom has everything one could possibly desire during an escape from the mainland, including his and her ensuites with an infrared sauna, hair salon facilities, ample hanging space, and a private lounge area. Adjoining this is a striking treatment room that serves as a “private sanctuary for all your health and beauty needs.”

Coral Ocean is now available for charter bookings in the Mediterranean and Caribbean.

Now, re-live the 2022 Monaco Grand Prix aboard Coral Ocean with BH’s James Want: