$3.4 million W Motors Lykan is the first Arab supercar

The oil-rich Middle East has long been one of the top markets for high-performance, high-priced supercars, and now it has one to call its own: The W Motors Lykan Hypersport. (W Motors)

Penned by a designer from Beirut, the Lykan was engineered with help from renowned European speciality automotive outfits Magna Steyr and Ruf, among others. Production of the carbon fiber two-seat coupe is expected to take place in the UAE and Dubai starting later this year. Among other luxuries, buyers can have the headlights encrusted in a choice of gemstones that includes diamonds and rubies. (W Motors)

The Lykan is powered by a twin-turbocharged flat-6-cylinder engine that puts out 750 hp and should be able to propel it to a top speed of 242 mph, according to W Motors, making it one of the fastest production cars in history. (W Motors)

Although the full interior hasn't been revealed, the company says it will feature a holographic instrument cluster and real gold stitching for its leather upholstery. (W Motors)

Just 7 Lykans will be built, and the company says it already has <a href="http://www.arabianbusiness.com/arab-auto-maker-expects-3-4m-sports-car-sell-fast-487545.html">hundreds of requests</a> for them from around the world. Each very wealthy buyer will also get a special edition Cyrus Klepcys watch worth $200,000. (W Motors)