The luxurious Monaco neighborhood built on the sea with a US$2 billion investment

In the Principality of Monaco, there is a landmark urban development project in sustainable and ecological construction, in a world where space scarcity and the need for environmental solutions are increasingly pressing.

And with Mataterra , a new and exclusive eco-district, Monaco has not only expanded its boundaries towards the sea, but has also set a precedent that sustainability and luxury can go hand in hand.

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Its construction cost around 2.1 billion euros (2 billion dollars) , and it is an example of how technological progress and environmentally focused projects can help transform limited spaces.

This project added more than 15 acres (six hectares) to the principality's land area and also aimed to redefine luxury urbanism. Inaugurated by Prince Albert II, Mareterra is a commitment to sustainability and environmental preservation in an area where a lack of space has led to land reclamation projects being carried out on the sea for many years.

With estimated sales prices of 100,000 euros per square meter , this ecological district is presented as an area where exclusivity, avant-garde architecture, and a commitment to the environment converge.

Its design

Its design is fundamental, as it was built on land reclaimed from the Mediterranean Sea. This project, initiated in 2013, was structured around the construction of large concrete chambers known as caissons , which were placed in the water before being drained and filled with 750,000 metric tons of sand.

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The result? A new urban space that extends the borders of the Principality of Monaco by 3%, which is significant considering it's a city known for its population density, with nearly seven out of 10 people being millionaires , according to Knight Frank .

Mareterra is not only an extension of the city, but also a luxury complex that includes private marinas, a seafront promenade, and a variety of exclusive homes. The area will feature more than 100 apartments and 10 palatial villas, designed by some of the world's most renowned architects, including Renzo Piano (known for his work on the Centre Pompidou in Paris).

Its ecological contribution

One of the defining characteristics of the project is its sustainable approach. While offshore expansion has been controversial due to its environmental impacts, this development was designed with an ecological focus to mitigate potential negative effects on marine wildlife.

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According to the developers of Mareterra, several methods have been taken to preserve this ecosystem through consultations with marine biology experts and the creation of artificial habitats to encourage the creation of marine life, such as artificial seagrass beds .

80% of the project's heating and cooling energy will come from renewable sources, including solar installations that will cover more than 1.2 acres (approximately 0.5 hectares) .

Let's talk about prices

These luxurious properties are priced at over €100,000 per square meter , making them a target for a select group of buyers. This price is almost double the average in Monaco, placing this urban development in the elite real estate category. However, despite its high price, the economic impact of the project cannot be overlooked. The sale of these properties will generate a significant source of income for the principality, which will benefit from a 20% tax on real estate sales.

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