Fontvieille shopping centre: Government wants to revisit the project
The new shopping centre was planned for 2027
The announcement did not exactly meet with unanimous approval by the National Council.
The high-profile issue was discussed on Monday evening at the new Public Budget Session. The new Fontvieille shopping centre, which was initially planned to boast 70 shops, 12 restaurants, 800 parking spaces, a cinema, two hectares of gardens and – most importantly – 41 state-owned homes, caused a stir in the Chamber when the new Minister for Finance and Economy, Marco Piccinini, announced that a review “is underway at the highest level with a view to bringing the project into line with the State’s requirements, needs and resources, which are not infinite.”
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Marco Piccinini stated that the project will certainly be modified “with a version that is better suited to today’s commercial reality.”
“What’s the panic? Is it being cancelled?”
The announcement came as a surprise to the National Councillors. “This is incomprehensible to Monegasques and their elected representatives. We were not consulted. I’m really shocked and very sad for Monaco,” said Corinne Bertani.
Her incomprehension was shared by the other elected representatives. “Why? Why the U-turn? What’s the panic? Is it being cancelled? What’s going on?” asked Nicolas Croesi. “The shopping centre has had a good innings, but it is clearly not keeping pace with changes in society and the retail industry. It is no longer a reflection of Monaco’s image, and a lick of paint won’t be enough. Between a basic refurbishment and the project that was initially planned, what are we going to do? Can’t we find a compromise?”
“If it is just going to be a renovation, are we to understand that the 40 homes that were planned on the roof of the future Fontvieille shopping centre will also be cancelled? (…) I can understand Ms. Bertani’s huge disappointment, and I can’t imagine what she’s going to say to the shopkeepers when they contact her. I’m puzzled,” said Maryse Battaglia, Chair of the Housing Committee.
“Quite frankly, I find it hard to understand this sudden change of tack in the light of the debates that have taken place so far, and I think it is relatively unfair to the shopkeepers in the Fontvieille shopping centre, who have been told for years: this is the calendar, this is the schedule. What will happen with the company responsible for overseeing the change? I would appreciate an answer to this question: will the Government withdraw its signature or withdraw the contract? Because there will be financial consequences,” said Christophe Brico.
“I am stunned by this announcement, what a waste of time,” said Marine Grisoul. “I can’t even imagine where this leaves the retailers. Just refurbish a building that dates from 1990? I would have liked to hear Mr Genta’s opinion on attractiveness.”
This last point was also raised by Mathilde Le Clerc: “there is a lack of an intermediate range of stores in Monaco. I can’t believe that there are many retailers who aren’t interested in the Principality. We can’t really be proud of our current shopping centre, despite the best efforts of the shopkeepers of course.”
“We have not said anything about abandoning the project. Not at all.”
Franck Julien, Thomas Brezzo, Balthazar Seydoux, Christine Pasquier-Ciulla, Mikaël Palmaro, Nathalie Amoratti-Blanc and Jean-Louis Grinda also expressed their astonishment and even anger.
The Minister of State took the floor: “Contrary to what I have heard, we have not said anything about abandoning the project. Not at all. Quite simply, this is a project that has encountered a number of delays, and now, in light of a number of studies provided by the company responsible for implementing the project, we are assessing a number of proposals that have been submitted to us. That is what has led us to say that we will review, re-assess the project. Again, we have never said, and we will not say, that the project is abandoned.”
Pierre Dartout also added that he wished to discuss the subject with the National Council during a Commission plénière d’études (EPC – plenary study committee) for the 2024 preliminary budget. “There is no question of being any less ambitious for a project that must, unquestionably, contribute to the Principality’s attractiveness. What we need to do now in the EPC is present to you, very objectively, a number of difficulties that may be encountered and share with you the possible options that will enable the project to continue, but perhaps on a different scale. (…) It is premature to say ‘refurbishment’ or ‘redevelopment’. Once again, nothing is set in stone,” said the Minister of State.