Mini-Monaco on the high seas

Each year, jetsetters and socialites flock to Monaco to watch the Formula 1 grand prix and soak up the Mediterranean sun.

If plans for a new superyacht to be called The Streets of Monaco are brought to fruition, that experience could be recreated on a floating city measuring more than 150 metres long (about half the size of a modern cruise ship).

The plans, released by Yacht Island Design, show an expansive deck featuring replicas of Monaco's most recognisable landmarks, including the grand prix track, Hotel de Paris, and Port Hercule.

Also pictured in the renderings are a helicopter pad, mini submarine, speedboats, and several swimming pools, and miniature hotels that line the port area.

A replica of the grand prix track lets cruisers race around just like the pros, albeit on go-karts instead of fancy Formula 1 racers.

But the deck isn't the only part of the superyacht that mimics the opulence of Monaco. Inside, “the Oasis” is to be modelled after the gardens outside the Monaco Casino.

Lavish staterooms would accommodate 16 guests and 70 crew members.

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The owner's apartment would be especially swanky, with double-high ceilings, a private sundeck, and its own jacuzzi and pool.

According to the London Daily Mail, the extravagant floating city could cost £244 million ($443 million) to complete, though it's difficult to pinpoint an exact price this early in the process.

Still, developers say there's plenty of buzz surrounding their project.

“We have had a significant amount of interest from the general public wanting to take cruises and a number of inquiries for potential commercial applications,” Rob McPherson, one of the founders of the project, told the Daily Mail.

“We are actively looking for clients either private or commercial with the vision to realise this new and interesting design direction.”