In Monaco, the offshore extension project will be delivered within a year

The small principality of two km2 for 39.000 inhabitants has already gained 40 hectares of extension on the sea since the 1950s, but this project launched in 2015 is without equivalent, even in the Middle East, due to seismic and environmental constraints as well as of its depth.

The future luxurious district which will be reclaimed from the sea, located next to the Grimaldi Forum, the elegant convention center of Monaco, is in fact based on an underwater embankment 50 meters deep.

It includes five buildings - for a total of 130 housing units - and ten villas, in a complex entrusted to the Italian architect Renzo Piano and the Valode et Pistre firm.

Housing is now well advanced, and almost all sold. If the prices remain confidential, the price per square meter can rise up to 120.000 euros in Monaco.

It remains to complete the exterior development, which is intended to be very green, with a seaside promenade, a small port and a park accessible to the public.

“Mareterra is a real achievement for Monaco,” said Guy-Thomas Levy-Soussan, managing director of Anse du Portier, which brings together private investors and Monegasque families, in a press release.

“The sea is thus a new terrain to conquer but we must not damage it,” he added, hoping that the project will be able to demonstrate “that this is possible” and advance “reflections and good practices in this domain".

Located between two underwater nature reserves, the site has, for example, recreated new habitats for fauna and flora on the structure, on the rocks and on artificial reefs.