Take a look at these futuristic floating 'living pods' being built in Panama that cost up to $1.5 million

Ocean Builders, based in Panama, is building floating pod homes.

It says its mission is to develop technology that makes oceans into an "eco-sustainable paradise."

The company claims the pods act as "fish aggregation devices ... anytime you put something in the water that makes shade, it attracts sea life."

The company also says that after several years coral growth can create a "thriving underwater ecosystem."

Ocean Builders uses steel tubes to create the floating homes 3 meters above the water in Panama's Linton Bay Marina.

The 73-square-meter floating homes will be upgradeable with new apps still being developed.

Ocean Builders chief executive Grant Romundt told CNN Travel it had "designed a home that floats on the water that gives you an experience of living on land, but even more."

The pods will cost between $295,000 to $1.5 million.

The design is sleek and minimalist.

The master bedroom affords "unparalleled panoramic views."

Ocean Builders is also developing an incinerator that will turn toilet waste into non-toxic ash, with the heat generated used to make hot water.

Romundt told CNN Travel that people will be able to order groceries using delivery drones. A separate autonomous vessel will collect garbage and make larger deliveries.

Ocean Builders also offers the GreenPod and the EcoPod, which it claims are environmentally friendly.

One buyer of the first 100 pods will be able to move in by the end of 2023, providing everything goes to plan, with production scheduled on a further 1,000 pods in 2024, CNN Travel reported.

Ocean Builders' Seapods are among other floating home concepts set to launch within the next few years. Off the coast of Dubai, Kleindienst Group is developing the Floating Seahorse which features an underwater bedroom and is part of a $5 billion mega-resort.