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.
- Brand new ‘go-anywhere' M/Y ‘Planet Nine’ to open for charterAn incredibly powerful world explorer in a class of its own, the brand new 73m/240ft motor yacht ‘Planet Nine’ from Adm...
- 6 brand new charter yachts entering the market in 2018Want to be amongst the first to experience the features of a brand new superyacht in 2018? We’ve got you covered in our...
- The 5 Largest Charter Yachts Launched In 2017Rounding-up some of the hottest deliveries of the year, we countdown the 5 largest charter yachts which were launched i...
- 10 of the best new superyachts to charter in 2018Be amongst the first to experience the future by chartering one of the best new superyachts in 2018.
- Blue Planet TV series superyacht ALUCIA now available to charterCausing a sensation when she appeared on the second season of the hit BBC series Blue Planet in winter, the 56m/183ft e...
- Inside Below Deck Mediterranean Season 3 M/Y ‘Talisman Maiton’Premiering on Bravo TV on 15th May, Below Deck Mediterranean Season 3 will see Captain Sandy Yawn and a cast of familia...