The principality of Monaco is set to expand its size by 202 hectares (500 acres) by a further six hectares with a €1 billion platform extending into the ocean by 2025.
Talk of expansion to one of the world's most renowned superyacht hubs began two years ago, with bids for the eco-friendly development accepted in July 2013, in line with the government's target of a 2024 completion of work.
Guidelines for a "sustainable urban design" to be built on newly reclaimed land which will replace an offshore area located nearby the Grimaldi Forum, a concert hall and conference centre were released by Prince Albert II's establishment.
Last week it was plans for the winning bid, submitted by a consortium including Bouygues, real estate mogul J.B Pastor et fils and four architects, were released. Work is expected to start on the development on 2016, with a slightly later finishing date if 2025 also announced.
The development will offer space for businesses, luxury homes, a park, shops and parking, with the southwest area allocated as a harbour with a "Mediterranean ambiance." It is not yet known if the harbour will offer facilities suitable for vessels of 'superyacht' status.
The project will “fit into the landscape and urban identity in the Principality and crucially "will pay particular attention to the environment, particularly in respect of the marine environment." It will be constructed in line with environmental certifications to ensure it is as 'eco-friendly' as possible.
It is expected that the planned work building a new "neighbourhood" of Monaco will increase the world's most densely populated country by 3%.
Monaco continues to expand to accommodate its well-established popularity as a luxury yacht charter destination, with over 40 hectares (100 acres) of space already recovered from sea in previous decades.
For more details about planning a superyacht vacation in Monaco and the French Riviera, please contact your preferred charter broker.
Or simply compare all luxury yachts available for charter in Monaco.
- First look inside brand new M/Y SOLOPhotos of the 72m/236ft charter yacht SOLO have just been released, giving an exclusive insight into the deck spaces an...
- 10 of the best superyachts available for holiday chartersThe 2018 holiday season is fast approaching and if you’re looking to escape to warmer climes this winter, here is a rou...
- Feadship’s 92m M/Y AQUARIUS joins the global charter fleetAfter attending last week’s Monaco Yacht Show, the 92m/301ft motor yacht AQUARIUS is now available for charter.
- Ex-charterer now owns new 111m Lurssen superycht TISThe owner of the brand new 111m/366ft superyacht TIS, which was launched from Lurssen earlier this week, has been confi...
- Amels M/Y LILI undertakes two-year global expeditionThe 55m/180ft superyacht LILI is giving charterers the opportunity to discover some of the most incredible cruising gro...
- Sail and ski in Norway aboard S/Y FIREBIRD The 27m/89ft sailing yacht FIREBIRD from UK-based Oyster Yachts is offering a unique sailing and skiing charter experie...