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A Russian billionaire's £360 million superyacht has been spotted in the waters of Ibiza's sister island Formentera

Just a ferry (or superyacht) ride away from the party island of Ibiza, glamorous Formentera is a celebrity and billionaire hotspot.

Instagram user @agent_ibiza spotted the superyacht sailing in Formentera.

The £360 million "Sailing Yacht A," the largest private sailing yacht in the world owned by Russian billionaire Andrey Melnichenko, was spotted sailing in the cristalline waters of Formentera, a tiny island off mainland Ibiza, on Thursday.

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Just a ferry (or superyacht) ride away from the party island, glamorous Formentera is a celebrity and billionaire hotspot. Its white sands and turquoise waters resemble the Caribbean.

Ibizan press reported that the superyacht was seen off the coast of the mainland's popular beach resorts of Figueretes and Playa d’en Bossa earlier in the week.

The 142.8-metre vessel boasts 300 ft masts that are taller than Big Ben, and counts eight decks (connected by a series of lifts), a free-floating spiral staircase, huge swimming pool, and underwater observation pod among its stunning features. France's Philippe Starck is behind the design of the yacht.

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Luxury concierge service Agent Ibiza (@agent_ibiza on Instagram) captured some epic shots of the vessel:

It was last spotted in Gibraltar in May, where it was undergoing final tests a few days before it was due to be handed over to Melnichenko.

Instagram users have also been posting some amazing close up shots of the £360 million vessel, which you can see below:

Formentera is known for its white sand and turquoise waters — the perfect spot for a superyacht.

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