Lonely Planet Writer

Monaco ‘extending’ its boundaries by building luxury apartments in the sea

Monaco is to undertake a uniquely creative project by constructing six hectares of luxury apartments in the sea.  The tiny principality is one of the most populated areas in the world with 38,000 people located in its two-square kilometres. This has led to a premium in on-land space, which in turn has forced the authorities to become visionaries by planning apartments in the sea.

The Mediterranean Sea is to house a new €1b luxury apartment development in Monaco
The Mediterranean Sea is to house a new €1b luxury apartment development in Monaco Image by Courtesy of Bouygues Construction

The sovereign state’s building challenge over the water will feature luxury apartment blocks, public facilities, a one-hectare park, as well as a marina and pedestrian wharves.

Monaco is one of the world's most densely populated areas with 38,000 living in its two square kilometres
Monaco is one of the world’s most densely populated areas with 38,000 living in its two square kilometres, which has forced authorities to become creative by planning to build luxury apartments in the sea. Image by Courtesy of Bouygues Construction

The overall cost of the ambitious project is estimated at almost €1 billion. It will be undertaken by Bouygues Construction, whose CEO Philippe Bonnava said his company is delighted to create the extra habitable space. The new land reclamation project will meet the highest standards in terms of environmental protection and sustainable development, the Local reports.

The tiny principality, known as a playground for the rich, has to reach out to the sea to make room for more apartments
The tiny principality, known as a playground for the rich, is building the luxury apartments in the sea with Bouygues Construction taking on the task. Image by Courtesy of Bouygues Construction

According to Travel and Leisure, the development will build 85-foot-tall watertight chambers. These caissons are regularly part of building piers and other seaside projects. Global Construction Review reports that these will be filled with up to 11,000 tons of cement.

There will be plenty of park space in the new development which is expected to cost €1b
There will be plenty of park space in the new development which is expected to cost €1b Image by Courtesy of Bouygues Construction

Monaco is best known as a playground for the rich with its lavish casinos and tax haven status. It mixes 15th century frescoes and ancient chapels with top class restaurants and yachting facilities, making it one of the most sought after areas in Europe for accommodation.