The Porsche Design Group and Singapore's Royal Falcon Fleet have announced they have reached the first stage in the construction of their planned 135 foot (41.2m) superyacht, known simply as RFF135.

The two companies agreed last year to build the radical "spaceship on water" and it is planned to be launched before Christmas next year. Both the hull and the interior design are in keeping with the functional and timeless designs normally associated with Porsche.

The as-yet-unnamed owner, who commissioned the giant cat, specified the radical design and gave the designers a free hand with the functional but luxurious interior. The over-the-top opulence of many modern superyachts has been banished for unadorned design with understated premium and comfortable materials giving flair to the interior.

The vast areas given by the beam of a catamaran hull have been embraced to give new styles in the interior and to capture the dynamic contours of the hull.

The construction of the hull began in Singapore in September last year and when it is complete it will be shipped to Sweden where the interior fit-out and the latest technological aids will be completed.

Royal Falcon Fleet engaged the Australian-based shipbuilding firm Incat Crowther and a Swedish firm, Kockums, to assist with the construction design of the giant catamaran. Incat Crowther have decades of experience in building very large, fast catamarans for both civilian and military use.

The CEO of the Porsche Design Group, Dr Jurgen Gebler, says he hopes the yacht will begin its journey to Sweden on December 15 this year. He says when RFF135 is launched it will be the ultimate luxury experience at sea.