The yacht was built in 1980 by the yacht builder Benetti at a cost of $100 million (equivalent to $291 million in 2016). Its original interior was designed by Luigi Sturchio.
It was originally built as Nabila for Saudi billionaire Adnan Khashoggi (named for his daughter). During Khashoggi's ownership, it was one of the largest yachts in the world but is now ranked below 60th and continues to fall down the rankings, due to the trend of larger and larger personal yachts being built. In fact the largest yacht as of 2016 is 180 metres so Kingdom 5KR falls short of even half that size.
During its days as Nabila, it was featured in the James Bond movie Never Say Never Again, in which it was seen as Flying Saucer (translated from Italian Disco Volante in the source novel, Thunderball), the villain's superyacht mobile HQ. It was also the inspiration for a track, "Khashoggi's Ship", on the 1989 album by rock band Queen, The Miracle.
Trump sold it when he ran into financial problems in 1991 to Prince Al-Waleed bin Talal for $20 million.
The yacht's latest name stems from the Prince's investment company, Kingdom Holding Company, his lucky number (5), and his children's initials ('K' and 'R').
When it was delivered it had five decks, a disco, a cinema with seats for 12 and 2 double beds, 11 opulent suites, a helipad on top (its funnels are sloped outward to avoid interference with the helicopters), a pool with a water jet on top in front of the heliport, 2 Riva tenders, a crew of 48, a top speed of 20 knots, and cruising speed of 17.5 knots. Propulsion was supplied by two 3,000 horsepower (2,200 kW) Nohab Polar engines.
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