The Principality of Monaco is the second smallest country in the world after the Vatican and is home to the world’s most expensive property market. However, unlike the Holy See, Monaco has more room to manoeuvre and is currently reclaiming land from the Mediterranean Sea. Anse du Portier Monaco has released the latest video update showing how the land extension project has moved forward over the past twelve months.
Expansion into the Mediterranean Sea
The €2 billion offshore urban expansion project will see Monaco grow by six hectares allowing the Principality to build hundreds of new homes. Five new luxury apartment buildings and 14 villas with unbeatable sea view as well as new commercial space and a new private port will alleviate Monaco’s shortage of space. The Principality has increased its territory by 20 per cent since the early 19th century thanks to offshore extensions.
450,000 cubic metres of sand
The latest update on the project shows how the caisson belt was created and how the first land appeared in the enclosed area. After that, the seawater was pumped out and the gap was filled in with 450,000 cubic metres of sand imported from Italy. The next stage involves building a platform that will create stable foundations for the buildings that will be constructed in this new neighbourhood.
Limiting environmental impacts
The Principality’s sixth offshore extension project is a real challenge when it comes to preserving the coastal ecosystem. Prince Albert II has imposed high environmental standards to limit ecological impacts and preserve the marine ecosystem. A company specialised in marine biology is closely following the development of the project to anticipate and mitigate any damage. However, it will take four to five years to truly judge the success of these preservation efforts.