The landscape of the Principality of Monaco is set to transform in 2018. From the ongoing land reclamation project at Portier Cove to exciting new residential developments, the range of building projects under construction is varied and impressive.
Those looking to invest in Monaco properties – whether purchasing a family home or buying an investment property – stand to benefit from the new constructions, as modern buildings are among the most appealing properties in the Principality. We’ve compiled a concise guide to the most interesting Monaco construction projects which are set to make our glittering Mediterranean city-state even better than before, while presenting some fantastic opportunities for property buyers with an interested in owning a piece of the glamorous Principality.
1) Portier Cove Land Reclamation
Where else to start but with the inspiring land reclamation project at Portier Cove? This incredible development will create a new 6-hectare peninsula of land, which is earmarked for luxury apartment blocks, villas, retail space, a yacht marina, a large public park, an underground car park, and a beautiful seafront promenade that will be backed by the existing Japanese gardens. Buyers are already lining up to invest in the hyper-exclusive residences that will line the newly built land.
2) One Monte Carlo
It’s easy to underestimate the dramatic effect that this project will have on the centre-most area of the Principality; once completed, it will entirely reimagine the space around the famous Place du Casino. Eight residential and commercial pavilions are replacing the iconic Sporting Hiver building, creating a new city quarter that will include spectacular apartments, restaurants, shops, offices, conference facilities, and an art gallery that will be submerged in the Petit Afrique Park.
3) Testimonio II
This vast 25-storey tower development stands to heighten Monaco’s already lofty skyline and will offer a whole new way of living to the most discerning of residents. Built on the last large plot available in Monaco – a staggering 9,755m2 – the Testimonio II development will include 150 state-owned apartments, a private housing project, the International School of Monaco, a crèche, a landscaped park, and a car park.
4) Tour 26 Carre d’Or
Pitched as the ‘ultimate residence’ on the glamorous Carre d’Or, this ultra-luxury apartment block will overlook the Place du Casino, the Rock, and the Mediterranean Sea. The 20-storey tower also houses shops, offices, and car parks, as well as a spa and fitness area, private elevators, and penthouses with rooftop swimming pools.
Other Residential Projects
The principality will continue to be a hive of building activity in 2018, with a vast range of residential and mixed-use developments underway.
The ‘Stella project’ will offer 100 new apartments, a nursery school, and offices across three buildings, while ‘Operation West Superior City Entrance’ will deliver private and commercial residences, a public car park, a park, and an office building.
Other notable residential developments include the Tour Giroflees, Palais de la Plage, Villa Trianon, and the much-talked-about ‘Villa Troglodyte’ – a private house being carved out of the rock.
Developments in Infrastructure and Attractions
It’s not all about housing construction in Monaco in 2018, however, with a range of ongoing projects making Monaco a better place to both live and visit. The New Princess Grace Hospital development is well underway; the large-scale ‘Operation Pasteur’ moves slowly towards completion, creating a college and office buildings; and the construction of a new police station, high school, and college are also underway.
For visitors, there’s an automobile museum going in at Port Hercules, a sea turtle pool and centre is the Oceanographic Museum’s newest project, and the spectacular Hotel de Paris renovation is due to be completed in December 2018.
The landscape of Monaco is ever-changing, creating real estate opportunities for savvy and swift-moving buyers.