Pangeos is named after a supercontinent called Pangea that existed from 200 million to 335 million years ago.
The project, which is a terayacht, will be able to accommodate up to 60,000 people.
It is currently under construction, and on completion, it is said to become the largest floating structure ever built, the Arabian Business reported.
The luxury project is designed by the Italian design studio Lazzarini.
Lazzarini told Arabian Business that the length of the floating city would be 1,800 ft. Pangeos would measure 610 meters (2,000 ft) at its widest point--the wings.
Further, the news report stated the floating yacht will have 19 villas and 64 apartments on each turtle wing.
In addition to this, Pangeos' features will also include a rooftop garden, mall, and beach club.
The unique structure will also have a ‘Terashipyard’ infrastructure that is 650 meters wide and 600 meters long, providing direct access to the sea.
According to the news report, Pangeos is designed to sail around the world non-stop. It will be equipped with virtual endless green energy supplies. The engine is likely to draw its power from ocean waves and the solar panels-covered roof.
The giant turtle-shaped yacht is expected to cruise at a maximum speed of 5 knots (5.7 mph/9.2 kph).
The interiors are yet to be revealed by the designing company, Lazzarini has expected $8 billion would be invested in construction with a timeline of 8 years.