With some 38,000 residents spread over less than one square-mile, the city-state of Monaco is the most densely populated country in the world. The scarcity of available real estate led the Principality to extend progressively into the sea. To support its development, Monaco is launching a new offshore urban extension project which will create a district of six hectares, with lofty ambitions in terms of sustainable development and environmental protection.
Bouygues Construction is the company in charge with this extraordinary project in the Mediterranean Sea along the coast of the Riviera principality, that’s expected to cost 1 billion EUR.
Luxury complex is set to feature a marina, public parks, a Japanese garden, a seaside promenade, and several blocks of luxury apartments.
“We are very pleased to have the opportunity to take part in the development of the Principality of Monaco by way of this new land reclamation project,”
Bouygues Construction CEO Philippe Bonnave said in a statement, noting that the project would aim for “the highest ambitions with respect to sustainable development and environmental protection.”
Set to begin at the end of 2016, the work should be completed by 2025.