Monaco, a territory between sky and sea





In terms of urban development, the Principality of Monaco is constantly facing the challenge of its constraining geographical features and the small size of its territory, forcing it to build towards the sky or the sea. In the latter case, two major projects are in progress in the Larvotto and Fontvieille districts, which have changed, and will continue to change, the landscape of Monaco in order to constantly enhance its attractiveness.

Larvotto – Mareterra district

The first terreplein, that of the Portier, was built between 1958 and 1961, under the reign of Prince Rainier III, nicknamed "the builder Prince". Then the Larvotto was built between 1961 and 1963, with its artificial beach. The original urban planning project was finally achieved with the construction of the Grimaldi Forum, from 1992 to 2000.

Today, the Larvotto district is once again undergoing a significant transformation, spearheaded by an exceptional luxury real estate project: Mareterra. This eco-district, located below the Portier roundabout, was designed by the renowned Italian architect Renzo Piano, who is best known for having won the competition for the Pompidou Centre in Paris in the 1970s, then for winning the Pritzker Prize in 1998, the highest distinction in architecture, and more recently for the Shard tower in London, which was inaugurated in 2012.

These additional 6 hectares of land, entirely reclaimed from the sea, will accommodate not only a marina, parks and gardens but also buildings comprising 110 flats as well as 10 villas, 6 of which are located directly on the seafront, and 4 townhouses scheduled for delivery in early 2025.

With Mareterra, a whole district is evolving, since the project has already led to the renovation of the Larvotto beach, still designed by Renzo Piano, the work on which is currently being completed. The new seaside complex, restructured and modernised, now has a shaded esplanade and additional commercial areas.

 

 

In addition, the project also includes the extension of the "Grimaldi Forum" Congress Centre and the transformation of the Ni-Box, a complex formerly dedicated to leisure activities.

This giant of concrete, glass and steel is currently 70,000 square metres in size and has a theatre, three auditoriums (for cultural events), twenty-two conference / lecture rooms and catering facilities, making it possible to host several international events simultaneously.

However, the Monegasque cultural and conference centre intends to develop its activities further, with an emphasis on conferences and professional events, and to position Monaco as an unavoidable place in this sector. In order to achieve this objective, some 10,000 sqm will be created and delivered by 2024, increasing its exhibition capacity by 50%, with the majority of the space gained from the extension being underground.

Twelve years after its opening, the Ni-Box complex is being demolished to make way for a completely different living space called Neuehouse in 2024. The future five-storey building will extend along the front of the Portier roundabout in front of the backbone and will be entirely green in order to harmonise with Mareterra. It will combine spaces for co-working, exchanges, conferences, activities and cultural events and will also include an amphitheatre, a projection room and a restaurant on the roof terrace. However, bowling enthusiasts need not worry: this flagship activity of the Ni-Box will be relocated as soon as possible near the Louis II stadium, in the ZAC (joint development zone) Saint Antoine. 

It is therefore a real new place to live that will emerge and transform the Principality. But it is not the only one...

 

Fontvieille district

The second terreplein, that of Fontvieille, was built between 1966 and 1973. After the urbanisation of its 220,000 sqm, it allowed the construction of the Louis II stadium, social and private housing, industrial areas, administrative and commercial centres. It also increased the Principality's naval reception capacity by creating a 55,000 sqm marina.

And, like the Larvotto district, it continues its metamorphosis since the shopping centre will be completely restructured by 2027 to become a place that will be emblematic of the Riviera.

The aim is to reenchant the area, to revitalise the commercial offer of Fontvieille in particular, and that of Monaco in general, by bringing in major international or exclusive brands and by developing services, in an exceptional urban and green complex.

 

 

To this end, it is planned to double the commercial surface area (70 shops on 30,000 sqm), the car parks (1,200 spaces), the offices, and to create 41 state housing dwellings as well as a 4-screen multiplex cinema. The animal park will be preserved and directly connected to the future shopping centre.

A magnificent park of almost 2 hectares in terraces, with some 2,000 trees, will complete this unique complex, immediately visible from Monaco-Ville or when arriving from the Condamine or the Ilot Pasteur building, a new urban complex that will be built in a few years. The latter includes the construction of the following infrastructures on 5 levels: a 1,500-pupil secondary school with a gymnasium, swimming pool and auditorium (replacing the current Collège Charles III), a postal sorting centre, a recyclable waste transfer centre, the new municipal media library, the new Léo Ferré space, a data centre, state-owned offices with a surface area of approximately 8,700 sqm, Department of Education, Youth and Sport offices and a public car park with more than 900 spaces.

The various structures will be delivered in several stages, with the secondary school, offices and car park scheduled for completion by the end of 2023, barring any unforeseen events, and the Léo Ferré space, postal sorting office and other entities by mid-2024. Once completed, this complex will also benefit from a pedestrian flow in the extension of the Honoré II promenade, where the Hélios and Jardins d'Apolline buildings are located today, thus offering a pleasant place to walk.

The real estate market is still booming, but these large-scale projects underway will significantly transform the Monegasque landscape and offer a new way of life.

 

As a major player in real estate in the Principality, Valeri Agency must be attentive to all these urban changes and the opportunities they offer, not only to Monegasques and residents, but also to commuters. That's why, if you wish to keep up to date, we invite you to follow us on social media and/or to subscribe to our newsletter.

Moreover, if you wish to bet on rapidly changing areas, Valeri Agency is at your disposal to help you find the properties where it will be good to live or invest.

 

© Mareterra Monaco -  © Socri Reim

 

30 may 2022