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Read the latest news and information in Monaco and  beyond.

Art and Culture in Monaco: Must-Visit Museums and Theaters

Monaco is a hub of art and culture, offering a wide range of exhibitions, museums, galleries, and theaters for both locals and visitors. The Principality dedicates 5% of its state budget into the arts, supporting artists, cultural programs, and heritage projects. With a packed calendar of events, there’s always something to explore, from world-class museums to historic theaters.

In this article, we’ll guide you through Monaco’s top cultural spots you won’t want to miss.

Nouveau Musée National de Monaco

Picture credits: VILLA SAUBER @NMNMONACO (Instagram)

The Nouveau Musée National de Monaco is home to contemporary visual art, featuring two exceptional locations: Villa Paloma and Villa Sauber. Each site offers a unique setting for the museum’s dynamic program of temporary exhibitions, dedicated to celebrating and promoting contemporary visual arts.

Both Villa Paloma, located near the entrance of the Principality with stunning views over Monaco, and Villa Sauber, set in the Larvotto district with its charming Belle Époque architecture and picturesque garden, regularly host a variety of exhibitions throughout the year. The venues showcase works by renowned and emerging artists. For instance, previous exhibitions have included the captivating “Newton, Riviera,” a photography exhibition featuring the iconic works of Helmut Newton or George Condo’s fascinating humanoid paintings.

To learn more about upcoming events and exhibitions, check out the current program.

The Oceanographic Museum of Monaco

Monaco’s Oceanographic Museum is a must-see, renowned for its breathtaking location and diverse marine life. Perched on a cliff overlooking the Mediterranean, this architectural gem offers stunning views of the sea and Monaco’s harbor. Established in 1910 by Prince Albert I, the museum is one of the oldest aquariums in the world and a testament to Monaco’s commitment to marine conservation.

Inside, you’ll find aquariums designed to replicate natural habitats, showcasing over 6,000 species of fish, sharks, and invertebrates. Make sure to not miss “L’Odyssée des Tortues Marines,” an outdoor exhibit dedicated to marine turtles.

Explore the legacy of Monaco’s oceanographic pioneers, from Prince Albert I’s explorations to Prince Albert II’s ongoing conservation efforts. This interactive exhibit uses technology to bring the museum’s history and collections to life.

A visit to the Oceanographic Museum is more than just an exploration of marine life – it’s an experience that celebrates the beauty and importance of our oceans.

Les Grands appartements du Palais Princier

When visiting Monaco, one cultural experience you can’t miss is a tour of Les Grands Appartements du Palais Princier. These opulent state rooms, housed within the Prince’s Palace in Monaco-Ville, offer a glimpse into the royal lifestyle of Monaco’s ruling family, the Grimaldis, who have resided in this palace for centuries, dating back to the 13th century.

The grand apartments are a masterpiece of Renaissance-style luxury, adorned with exquisite frescoes, rich tapestries, and gilded furniture that reflect centuries of history and craftsmanship. Walking through these spaces, you’ll be transported back in time, experiencing the legacy of Monaco’s royal heritage.

While the palace remains the official residence of the current Prince of Monaco, visitors are allowed to explore these remarkable rooms during certain times of the year. It’s a rare opportunity to immerse yourself in the history and splendor of Monaco’s royal life.

Opéra de Monte-Carlo

For those seeking performing arts, the Opéra de Monte-Carlo is an absolute must. This stunning opera house is a venue for world-class performances, including opera, ballet, and concerts. It is a part of the famous Monte Carlo Casino complex and was designed by Charles Garnier, the same architect behind the iconic Palais Garnier in Paris.

Built in the 1870s , the Opéra de Monte-Carlo boasts a stunning blend of Baroque and Belle Époque architecture, with ornate sculptures, lush red and gold interiors, and magnificent frescoes. From the moment you walk in, you’ll be enveloped by an atmosphere of grandeur and elegance that feels like stepping into another era.

Although the Opéra de Monte-Carlo was initially built with the primary purpose of hosting top-tier opera and ballet performances, over time it has also gained recognition as a significant cultural symbol on its own. Over the years, it has hosted many legendary names in music, theater, and dance, contributing to Monaco’s rich artistic heritage.

The Car Collection of HSH The Prince of Monaco

This remarkable exhibition offers car lovers and curious visitors  to admire nearly 100 vehicles, all personally collected by Prince Rainier III. Expanded under the care of Prince Albert II, the collection showcases the royal family’s deep passion for automotive engineering and design.

Spanning over a century of automotive history, showcasing everything from classic models to race cars that have competed in prestigious events like the Monaco Grand Prix, the museum features legendary brands such as Ferrari, Rolls-Royce, Maserati, and Bugatti. 

Even if you’re not a die-hard car enthusiast, The Car Collection of HSH The Prince of Monaco is a captivating journey through time, offering a window into the history of sport and luxury cars. It’s a must-visit for anyone looking to experience another facet of Monaco’s rich cultural landscape.

Grimaldi Forum

Picture credits: @GRIMALDIFORUM (Instagram)

For those looking to immerse themselves in Monaco’s vibrant contemporary culture, the Grimaldi Forum is an essential stop. Situated by the sea, this multi-purpose venue is renowned for hosting a diverse range of events, from world-class art exhibitions and international conferences to concerts and performances.

Over the years, the forum has featured significant exhibitions like The Gold of the Pharaohs and The Grace Kelly years, Princess of Monaco, both drawing international attention. It’s also home to prestigious annual events such as Top Marques Monaco, an annual supercar show called “the world’s most exclusive car show” by the New York Times (here is a short glimpse of the 2023 event).

In addition to these remarkable exhibitions and events, the Grimaldi Forum has hosted incredible performances such as Mamma Mia! the musical and Grease the musical, along with fantastic concerts by legendary artists like Elton John.

Make sure to visit their website to stay updated on upcoming exhibitions and events you won’t want to miss.

Théâtre des Muses

Picture credits: @theatremuses (Instagram)

The Théâtre des Muses in Monaco is an intimate cultural gem, offering a unique space dedicated to performing arts. Its cozy, inviting atmosphere creates a close connection between the audience and performers, ensuring each show is an engaging and memorable experience. The theater not only showcases a diverse range of performances but also offers acting and performing arts classes for both children and adults.

A must-visit for theater enthusiasts and those looking to explore their creative potential in the region.

Check out the 2024/2025 season program here.

Théâtre Princesse Grace

Named in honor of Princess Grace of Monaco, the theater embodies her passion for the arts and commitment to promoting culture in the Principality. It hosts a rich program of performances, ranging from classic plays and contemporary productions. With its elegant architecture and high-caliber performances, the Théâtre Princesse Grace continues to be a beloved destination for both locals and international visitors seeking quality entertainment in a beautiful setting. Check out the program.

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Monaco’s Eco-friendly Mobility Plan

Monaco has long been recognized as an environmentally-friendly nation, especially under the leadership of HSH Prince Albert II. His commitment to the planet is evident through numerous initiatives, particularly the Fondation Prince Albert II de Monaco, which focuses on preserving the environment and fostering sustainable development locally and globally.

A key element of Monaco’s sustainability plan is improving mobility, which supports the principality’s sustainable growth and positively impacts public health by enhancing air quality.

In this article, we will highlight Monaco’s green transportation initiatives, which are part of a strategic plan to diminish greenhouse gas emissions, enhance shared mobility, and elevate the overall quality of life in the Principality.

Buses

Public transportation is essential for sustainable development because fewer cars on the road mean less pollution. Thus, the Monaco Bus Company plays a significant role in Monaco’s green efforts. The company operates 22 hybrid buses, which have been powered by Diester B30 biofuel since 1998, resulting in a reduction of fossil emissions by up to -50%. Additionally, Monaco introduced 10 electric buses in 2022. In addition, the Principality put a lot of effort into making these buses user-friendly. Indeed, they offer various convenience features such as the option to pay directly on the bus using a contactless card reader or through the dedicated app, which enables users to track buses in real-time online. Moreover, the Monaco Bus Company is continuously working on modernizing its services, such as increasing the frequency of public transport which includes night and evening buses. The company has recently added to brand new lines: X3 and X4, which directly and fastly connect the East to West of the Principality. Indeed, since April 2024, these two new bus lines connect East to West with very little stops (from Monday to Friday) from 7am to 7pm.

In addition to the regular bus services, Monaco also offers solar-powered electric water buses allowing passengers to cross Port Hercule efficiently and sustainably.

MonaBike

Monaco’s transportation network has been further enriched with the introduction of Monabike, an automated electric bike assistance service. Complementing the existing extensive network of bus lines, this initiative is a joint effort between the Government of Monaco and the Monaco Bus Company.

With nearly 400 bicycles spread across 49 stations within the 2km² Principality, Monabike ensures convenient access for users throughout their journeys. Wherever they are headed in the Principality, users can find stations near their point of departure and their destination. This service caters to both subscribers and occasional users aged over 14.

This electric bike share program promotes eco-friendly travel practices across the Principality, fostering shared mobility and actively contributing to the reduction of greenhouse gas emissions.

Mobee

As Mobee’s slogan says, “Electric vehicles in just a few clicks,” this initiative makes it easy for people to get around the Principality without worrying about parking charges.

This Car-Sharing System allows users to access electric vehicles within the Principality through their smartphones. The app helps you locate the nearest available vehicle, book it, and drive away.

Vehicle Options:

  • Renault Twizy: Perfect for short city rides, these small and compact two-seaters are ideal for easy parking on the streets of the Principality.
  • Peugeot e208: These cars offer a comfortable experience for longer journeys.
  • Tesla Model 3: With extended battery autonomy, these vehicles also provide access to Tesla’s superchargers within the Principality.
    For more information, visit Mobee’s website.

Promoting Electric Vehicle Adoption in Monaco

In line with its comprehensive eco-friendly transportation initiatives, the Principality actively encourages its citizens and residents to purchase and use electric vehicles. The government provides subsidies to support the acquisition of clean energy vehicles, offering financial assistance to those who choose electric options.

Subsidy details:

  • Applicable to electric or hybrid (electric/petrol) vehicles with at least four wheels and CO2 emissions of 110g/km or less.
  • Includes electric or hybrid two-wheel or three-wheel vehicles and quadricycles with CO2 emissions of 45g/km or less.
  • Covers electric bicycles without lead batteries.

For more information, visit the official page. 

Monaco has also implemented several initiatives to encourage the use of electric vehicles:

  • Charging Stations: The Principality features numerous charging stations conveniently located throughout the area.
  • Incentives: Electric vehicle owners receive various benefits, including a free annual car sticker, regulated on-street parking, and complimentary vehicle charging.
  • Parking: The Monaco Town Hall offers free parking for electric vehicles on public roads.

These measures demonstrate Monaco’s commitment to fostering sustainable transportation and reducing its carbon footprint. For further details, visit the government’s information page.

Revolutionizing Mobility: Monaco’s New Parking Solution

Multimodal transport is gradually gaining more prominence in Monaco. Indeed, park-and-ride schemes now encourage drivers to leave their cars as they enter the Principality.

Prince Albert recently inaugurated Parking Salines, a large parking facility at Monaco’s entrance, aiming to reduce road traffic by up to 4,000 vehicles daily. The 15-level structure offers 1,790 parking spaces and 100 Monaco ON electric charging stations.

Parking Salines is a key part of Monaco’s Mobility Plan, launched in February to transform the city’s transportation by reducing traffic and promoting sustainable travel.  The facility provides affordable parking and two express bus lines for convenient access to key areas within the Principality. Buses operate every 10 minutes between 7 am and 7 pm on weekdays, with increased frequency during rush hours (up to one bus every 5 minutes!).

Additionally, this brand-new parking lot features two electric bicycle stations on levels -1 and -15, with charging spaces for 63 electric bikes.

It is worth mentioning the attractive prices: monthly packages cost €51, which are about half the price of other car parks in Monaco, and include free bus travel. Daily rates are €11 for a full day of parking. 

This facility will benefit not only cross-border workers but will also be very valuable for major events in Monaco, such as the Monaco Grand Prix, which attract thousands of visitors.

To wrap up, Monaco’s comprehensive eco-friendly mobility plan showcases a robust commitment to sustainability, driven by HSH Prince Albert II’s vision for a greener future. Through initiatives like the modernization of the Monaco Bus Company, the introduction of Monabike, and the convenience of Mobee, the Principality is significantly reducing its carbon footprint. The promotion of electric vehicle adoption, bolstered by government subsidies and widespread charging infrastructure, further reinforces Monaco’s dedication to clean energy. The new Parking Salines, with its park-and-ride scheme and multimodal transport options, exemplifies Monaco’s strategic approach to reducing traffic congestion and enhancing public transport usage. Collectively, these efforts underscore Monaco’s proactive stance in fostering sustainable mobility and improving the quality of life for its residents and visitors alike.

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Why Invest in Damac: Emirati’s Top Real Estate Developer in Dubai

We are delighted to announce our partnership with Damac Properties, Emirati’s Top Real Estate development company based in Dubai, United Arab Emirates. Founded by Hussain Sajwani, Damac Properties was listed on the Dubai Financial Market in early 2015. 

Should you have an interest in exploring investment opportunities within Damac’s projects, please feel free to contact us at info@prime-estate.mc or call us at +377 99 90 77 67. We would be more than happy to provide you with further information on the available options.

What is Damac?

DAMAC Properties, a division of the esteemed DAMAC Group, has been a leader in luxury real estate in the Middle East since 1982. Crafting iconic residential, commercial, and leisure properties, Damac’s portfolio extends regionally and globally. With a focus on vitality and innovation, its developments include skyscrapers, residential communities, and branded residences. As of June 2023, Damac had already delivered 46,000 high-quality homes, with 33,000 more in development. The corporation has established a significant presence in Dubai’s key districts including Business Bay, Dubai Marina, Jumeirah Village Circle, Downtown, and Dubai Harbour, with exclusive villa communities like Damac Hills and Damac Lagoons. Renowned for collaborations with brands like Cavalli, Paramount, De Grisogono, Fendi, and Trump, Damac continues to shape prestigious urban landscapes.

©DAMACPROPERTIES

Why invest in Damac?

Damac, renowned as a leading real estate developer in Dubai, proudly boasts over 120 successfully completed projects across the Emirates. Recognized for its unwavering dedication to construction excellence, punctuality, and unparalleled customer satisfaction, Damac provides robust assurances to its clientele. All in all, investors are presented with the chance to partake in the promising trajectory of a prominent luxury real estate developer based in Dubai and the broader Middle Eastern region.

Why Choose Damac for Investment:

  • Internationally recognised brand

Damac has a strong reputation for luxury developments in Dubai (like the award-winning Park Towers and Ocean Heights, as well as the exclusive co-branded properties such as Safa One de Grisogono and Cavalli Tower and DAMAC Bay by Cavalli). With its  strong position and international recognition, Damac strives for increased sales volumes and higher profit margins compared to industry competitors.

  • Leading growth of the premium Dubai property market and beyond

Dubai’s booming economy, expat population, foreign investments, and tourism make it a hotspot for high rental yields and investment. Damac stands ready to benefit from this trend, leading the real estate market’s rebound with increased demand, renowned investor confidence, and improved economic conditions.

  • Proven business model with strong margins and attractive returns

Damac’s strategic planning and decision-making are driven by a firm commitment to maximizing profit margins and returns on equity. The company achieves this through prudent cash management, effective project cost control, strategic land acquisitions, prudent debt management, customer-centric product design, and proactive sales and marketing strategies.

  • Advanced in-house design, sales and project execution as well as service and hospitality capabilities

Critical to Damac’s financial prosperity is its capacity to secure robust sales upon project launch. The company relies on dedicated in-house teams, such as Sales and Marketing, Design, Project Management, Customer Relationship Management, and Acquisitions, playing pivotal roles across the design, construction, and sales phases.

  • Future growth secured by existing development pipeline and ability to source new opportunities

Damac boasts a premium portfolio of ongoing projects strategically positioned for near-term growth in the UAE and abroad. Its venture into branded residences, partnering with esteemed global brands like Cavalli, Versace, De Grisogono, and others, further amplifies the company’s future growth prospects.

  • Conservative financial policy

Funding a significant portion of construction expenses through installment payments garnered from unit sales enables the company to maintain low levels of leverage while also minimizing risk to its project pipeline. The company’s cautious and adaptable capital structure, empowers it to promptly adapt to shifts in the economic landscape.

  • Highly experienced management team and a committed founding shareholder

Damac is led by an experienced team of directors and senior managers skilled in real estate construction, marketing, human resources, administration, finance, IT, law, and accounting. The board benefits from a blend of local and international expertise.

For further information please check out this page.

How to invest in Damac?

Interested in investing in Damac Properties? We’re thrilled to share our collaboration with Damac. On March 14th 2023, we hosted an exclusive event showcasing compelling investment opportunities and unveiling DAMAC’s visionary developments, offering a glimpse into the future of Dubai’s real estate landscape. Check out this short glimpse of the event on our Instagram reel: https://www.instagram.com/p/C4xsxcDIp_R/. 

At the event, Damac’s team presented five of their most prestigious projects, all available for investment through our services.

Below, you’ll find a brief description of each project:

1. Cavalli Couture

©DAMACPROPERTIES

Nestled in Dubai’s vibrant Safe Park area, this building offers an unrivaled location close to iconic landmarks like the Burj Khalifa, Dubai Mall, and the financial center, with Dubai International Airport a mere 15-minute drive away. Designed to transport you from the desert to a lush jungle oasis, the exterior envelops you in lush greenery, while the interior, curated by fashion brand Cavalli, dazzles with vibrant animal prints and natural motifs. 

Indulge in leisure and wellness amidst serene lagoons and outdoor spaces, complemented by luxurious amenities including a spa, gym, and fine dining restaurants. Enjoy panoramic views and relaxation on rooftop terraces and reception areas. 

Choose from 3 to 5-bedroom residences and 6-bedroom penthouses, each featuring a terrace with a private pool, offering breathtaking views of the Dubai canal.

If you are interested in investing in one of Damac’s projects, please reach out to us via info@prime-estate.mc or call +377 99 90 77 67. We will be delighted to get in touch with you to introduce the available opportunities. 

2. ⁠Damac Bay by Cavalli

©DAMACPROPERTIES

Indulge in luxury amidst the waves with exquisite seafront apartments at Dubai Harbour. Discover DAMAC Bay by Cavalli, a breathtaking residential masterpiece spanning three magnificent towers. Harmonizing opulence with maritime serenity, DAMAC Bay by Cavalli presents an unparalleled lifestyle of luxury.

Located in the prestigious Dubai Harbour, DAMAC Bay embodies luxurious waterfront living experience. Each thoughtfully crafted apartment offers unparalleled views of the sea and coastline, promising a lifestyle of absolute luxury by the shore. Not to mention the top-of-the-range amenities that include three infinity pools, a rooftop area, and a private beach. 

If you are interested in investing in one of Damac’s projects, please reach out to us via info@prime-estate.mc or call +377 99 90 77 67. We will be delighted to get in touch with you to introduce the available opportunities. 

3. ⁠Amali Island

©DAMACPROPERTIES

Amali Properties, a subsidiary of Damac Properties, introduces an island where every arrival promises an escape from the ordinary. 

With 24 uniquely designed luxury villas, this private island offers exclusivity at its finest. Residents will enjoy access to resort-style amenities, ensuring a lifestyle of unparalleled comfort and leisure.

Only six minutes away from Dubai mainland, this enclave redefines luxury living in the heart of the bustling city. These bespoke island villas, nestled within the World Islands in Dubai, epitomize opulence and sophistication, offering a truly distinctive living experience.

If you are interested in investing in one of Damac’s projects, please reach out to us via info@prime-estate.mc or call +377 99 90 77 67. We will be delighted to get in touch with you to introduce the available opportunities.

4. ⁠ALTITUDE by De Grisogono

©DAMACPROPERTIES

Overlooking the impressive Dubai Canal, ALTITUDE is just minutes away from iconic landmarks such as the Burj Khalifa, Dubai Mall and DIFC, as well as Dubai International Airport just a short drive away.

Developed by de GRISOGONO, these designer apartments in Business Bay seamlessly blend soft color palettes, abundant natural light, modern design, and opulent materials, crafting a refined living space that embodies both tranquility and sophistication.

Beyond luxurious living spaces, Altitude offers a comprehensive range of wellness amenities, including a spa, salon, beauty bar, hydrotherapy, and state-of-the-art temperature-controlled flotation pods.

Delivery date: 31st March 2028.

If you are interested in investing in one of Damac’s projects, please reach out to us via info@prime-estate.mc or call +377 99 90 77 67. We will be delighted to get in touch with you to introduce the available opportunities.

5. SAFA ONE by de Grisogono

©DAMACPROPERTIES

SAFA ONE by de Grisogono redefines the very essence of luxury living. Blurring the lines between natural splendor and refined home elegance, it’s a sanctuary where life unfolds amidst lush greenery, vibrant tropical blooms, and the allure of the world’s most exquisite jewels.

Exclusively branded by de Grisogono of Switzerland, SAFA ONE draws inspiration from the opulent beauty of emeralds and diamonds, reflecting their magnificence in every facet of the building. From lush greens to sparkling facades, you’re enveloped in a world of flawless splendor.

Nestled in the heart of the city, SAFA ONE offers unrivaled views of Safa Park, World Islands, Bulgari Island, as well as iconic landmarks like the Burj Al Arab, Palm Jumeirah, and Atlantis.

If you are interested in investing in one of Damac’s projects, please reach out to us via info@prime-estate.mc or call +377 99 90 77 67. We will be delighted to get in touch with you to introduce the available opportunities.

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Bay House: Monaco’s Top Luxury Real Estate Project

Introducing Bay House, a new standard of sophisticated living in Monaco’s prestigious Larvotto neighbourhood. This exceptional development comprises 5 exclusive villas and more than 50 apartments, redefining the standards of luxury.

All the residences in Bay House will include three to six bedrooms, spacious entertaining areas, and south-facing wraparound balconies with breathtaking panoramic views. 

Each of the five villas will provide an exceptionally rare waterfront living experience in the Principality: private roof terraces and pools overlooking the Mediterranean sea.

After 7 years of construction, full delivery of the properties is expected for 2024.

The epitome of luxurious living

©DBOX , ©ARTEFACTORY LAB

Each Bay House residence embodies luxurious living, featuring meticulously crafted multi-level properties that effortlessly blend spacious interiors with tranquil private outdoor spaces, defining the true essence of luxury. The exclusive villas, limited to just five, promise an unparalleled living experience.

This lavish living experience includes cutting-edge home automation controlling lighting, shades, air-conditioning, and videophones. Additionally, the all-inclusive concierge services elevate the lifestyle as residents will be able to enjoy a daily shuttle, housekeeping, dry-cleaning, and valet amenities.

Moreover, Bay House introduces 500m2 of amenities, where residents will be able to enjoy its luxurious spa consisting of massage rooms, steam room, sauna, hair and beauty salon, and more. A dedicated fitness area with advanced technology will also be available.

Residents will also enjoy the added convenience of direct access to secure parking at three road levels – Boulevard d’Italie, Boulevard du Larvotto, and Avenue Princesse Grace – interconnected by dedicated elevators. This unique setup will ensure seamless accessibility across all three residence levels. Additionally, most of the 5 houses are expected to have a direct entrance to their private parking bay, a rare luxury in the Principality.

Bay House, Part of a Larger Project: Testimonio II 

Bay House stands at the heart of the expansive Testimonio II development, encompassing two residential towers, housing units for local citizens, a nursery, and a spacious new site for the esteemed International School of Monaco. This new International School that will be able to welcome up to 700 students, spans over 10,000 square meters. It will cover the entire length of the project, across four levels, between Avenue Princesse Grace and Boulevard du Larvotto. The school will include a gymnasium and conference hall. 

The nursery, located on the ground floor of the tallest tower in Boulevard d’Italie, houses age-specific sections, areas for play and discovery, sleeping zones, care facilities, and terraces.

Moreover, this project is adding new parking spaces in Monaco, a rare gem in the Principality (link the article about investing in parking). More than 1,000 new parking spaces across 13 levels, including spots for public use. 

The Visionaries Behind the Project 

Everyone remembers the spectacular Tour Odéon, Monaco’s towering landmark that houses the world’s most expensive penthouse. Today, the developer behind this iconic structure, Groupe Marzocco, has unveiled its latest endeavour: Bay House. Representing one of Monaco’s most luxurious residential developments to date, Bay House marks an impressive milestone in the principality’s architectural history.

Embarking on real estate projects in Monaco invariably presents a variety of challenges, and the Testimonio II undertaking is no different. Located in the final large-scale plot available for construction in the Principality, the site posed considerable obstacles: narrow, steep terrain, restricted spaces, and geotechnical complexities. Groupe Marzocco tackled this rigorous project by collaborating with various partners. Among them were the Vinci Group, Arquitectonica designers who designed the distinctive wave-like facade, Alexandre Giraldi, and interior designers such as Laura Sessa.

Located in the lively Larvotto Neighbourhood  

©DBOX , ©ARTEFACTORY LAB

The Bay House development nestles within Monaco’s Larvotto Beach area, a highly sought-after location due to its luxurious apartments, breathtaking sea views, beach lifestyle, and its vibrant local scene thriving with trendiest restaurants and clubs. 

Within this area, the esteemed Grimaldi Forum hosts a diverse array of year-round shows, exhibitions and conferences. Among its offerings are the renowned Ballets of Monte-Carlo, prestigious artistic shows led by Jean-Christophe Maillot, making it a nighttime gem in the Principality.

The Larvotto also boasts luxurious five-star resorts such as the Monte-Carlo Beach and the Monte-Carlo Bay and Resort, alongside the most famous nightclubs, namely Jimmy’z and Sass Café. Finally, this district is distinctly defined by the iconic Avenue Princesse Grace, which runs parallel to the coastline and stands as one of the most exclusive streets in the world. Who wouldn’t want to live here?

Delve deeper into Bay House’s website and uncover an entirely elevated benchmark for refined living.

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Mareterra: Monaco’s Seafront Expansion and Unstoppable Growth

The number of people settling in or wanting to move to Monaco has increased over the last decades. Yet, Monaco, covering barely more than 2 km², remains smaller than the size of New York’s Central Park. 

Running out of space, the world’s second smallest country first tackled the issue with its pioneer offshore project back in 1907. This was the first land expansion into the Mediterranean Sea which birthed the Fontvieille district. Today, under Prince Albert II’s guidance, the most recent expansion is in process, slated for completion by the end of 2024.

A Fusion of Sea and Land

A brand-new district is taking shape along Monaco’s existing coastline, seamlessly extending from the Grimaldi Forum to the Formula One Grand Prix tunnel. Mareterra introduces a vibrant new district that will blend residential, cultural, and recreational spaces while embodying the Mediterranean’s charm and natural habitat. 

This transformative venture marks a significant shift for Monaco: an innovative addition to the Mediterranean shoreline that harmonises both land and sea ecosystems. Indeed, the name ‘Mareterra’ beautifully symbolises the project’s fusion of sea (“mare”) and land (“terra”), honouring its dual aspects. 

In collaboration with the SAM Anse du Portier developer, Mareterra utilises innovative and sustainable building techniques, embodying Monaco’s vision for expansion and advancement. Esteemed architects, such as Valode & Pistre Architectes, Renzo Piano, and Michel Desvigne, lend their expertise to this transformative project, initiated in 2013 and set for completion by late 2024.

A New Place of Tranquillity for All in Monaco

Introducing a groundbreaking real estate venture that goes beyond conventional living spaces. The project encapsulates a seamless integration of community and lifestyle. 

Here’s a list of the meticulously curated public spaces designed for communal enjoyment:

  • Place Princesse Gabriella – an essential gathering spot at the heart of this district, adorned with captivating reflecting pools. 
  • Le Petit Portier, a charming small marina composed of 15 berths that will be surrounded by shops and restaurants. It’s set to become Monaco’s newest vibrant focal point, perfect for community gatherings.
  • Mareterra’s La Pinède & La Vallée, drawing inspiration from the Mediterranean’s natural terrain and native plant life, will invite residents and visitors to embark on a serene journey amidst clusters of trees, shrubs, and flora.
  • Lastly, both locals and visitors will be able to enjoy the Promenade Prince Jacques, stretching along the coastline from the new port to the Grimaldi Forum. This scenic route will offer a stunning sea-view, leading gracefully to the one and only Larvotto beach.

Monaco’s eco-friendly and sustainable district 

The development team behind Mareterra is committed to implementing several measures focused on the ecosystem, sustainability, and responsible site development. 

Here are some of the key figures:

  • 800 trees plantes 
  • 27 000 sqm areas planted 
  • 19 000 sqm pedestrian area 
  • 9 000 sqm of solar panels 
  • 50% of rainwater reused 
  • 600m of cycle path 

Mareterra has implemented various sustainability measures. For example, the project includes setting up around 200 charging systems for electric vehicles, with 20% allocated for public car park. It will also create two bike stations with one that is specifically designed for electric bikes only.

Additionally, to preserve the ecosystem, Mareterra is actively working to minimise its construction site’s impact and to enhance biodiversity within the area. For instance, it is planned to install shelters like bird nests and insect hotels. Mareterra is also dedicated to preserving protective sea grass and fostering the growth of the new coastal area by constructing artificial reefs.

Deep dive into Mareterra’s Exclusive Residences 

Mareterra will offer a variety of distinctive residential spaces, each with its own charm. 

At the district’s edge will stand Le Renzo, offering residences overlooking the vibrant port and retail area (see picture above). Then, Les Jardins d’Eau residences will embrace the Riviera elegance, featuring plenty of amenities, spacious balconies, and modern designs that seamlessly blend indoor and outdoor living. Just a short distance away, positioned by the sea, will be located the exclusive villas. Each villa will offer incredible breathtaking views and features its own unique and distinctive design. Finally, the Townhouses perfectly reflect the vision of integrating natural beauty: they will be enveloped by lush greenery – effortlessly blending into nature. These homes will feature interior patios where residents will be able to immerse themselves in nature. 

We currently have two properties available (for rent and for sale). Please do not hesitate to contact us should you be interested in a property in this newly developed district. 

For more information about this ongoing (and soon to be) project, please explore Mareterra’s website.

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Parking Investment in Monaco: All You Need to Know

A highly Lucrative Business 

While most of us are aware of the exorbitant per square meter prices for apartments in the principality, the underground business of private parking spaces is an equally lucrative domain. Indeed, parking spaces are significantly escalating the already staggering costs associated with real estate in Monaco. According to La Chambre Immobilière de Monaco, the price for a parking space or a private box in Monaco ranges from 150,000 to 600,000 euros – an astronomical spectrum indeed.

Over the past decade, there has been significant inflation in these prices, surpassing the per square meter price escalation. A decade ago, prices fluctuated between 150,000 and 200,000 euros, but today, they span a much wider range from 150,000 to 600,000 euros. Prices are particularly high in some neighbourhoods. Take Monaco-ville, for example – there’s such scarcity that a closed garage effortlessly fetches a million euros. As a result, negotiations are consistently in favour of sellers, who encounter no difficulty in reselling their parking spot.

A Supply that doesn’t meet the Soaring Demand

While Monaco stands as one of the safest places in the world, the preference for parking in a monitored and sheltered facility persists. Underground parking spaces, often the norm in Monaco, come equipped with round-the-clock surveillance, adding to the allure of secured parking options. The scarcity of available street parking amplifies the necessity for a secure spot, further elevating the value of such sought-after parking spaces. The quest for this prized possession – a secure and covered parking space – is the ultimate challenge within the principality. 

Another challenge highlighted by L’Observateur de Monaco: owners of luxurious cars now struggle with the outdated size standards of parking spaces in the principality. Indeed, many parking spaces here are notably small. This mismatch propels prices upward for larger parking spaces. Desperate for more sizable spots, this clientele is willing to pay astronomical sums, creating a fervent demand. The current average cost for securing a ‘large’ spot ranges between 500,000 and 600,000 euros. 

Finally, the soaring demand can also be explained by the increasing trend of multiple car ownership per household. As more people accumulate vehicles, the supply fails to match this surge, resulting in a continuous rise in prices. 

As a result, investors, recognizing this demand, have entered the market, heightening the difficulty of acquiring parking spaces in Monaco. It’s undeniably a secure investment, demanding minimal maintenance, easy to manage, and promising optimal profitability.

Why Parking Investment is Your Next Big Move

All things considered, investing in parking spaces in Monaco can be attractive for several reasons:

  • High Demand: Monaco is a small city-state with limited space. The demand for parking is consistently high due to its dense population and limited land availability.
  • Limited Supply: There’s a scarcity of parking spaces in Monaco, leading to a situation where the supply doesn’t meet the demand. This imbalance can drive up the value of parking spaces over time.
  • Stability and Prestige: Monaco is known for its stability, luxurious lifestyle, and as a tax haven. Investing in property, including parking spaces, in such a prestigious and stable location can offer long-term benefits.
  • Potential for Rental Income: With the high demand for parking, you can potentially generate steady rental income by leasing out your parking space to residents, businesses, or tourists. Plus, it’s a profitable investment that requires minimal maintenance.
  • Capital Appreciation: Due to limited space and high demand, property prices, including parking spaces, in Monaco have historically shown strong appreciation.

However, before investing, it’s crucial to consider factors like initial investment costs, ongoing maintenance expenses, regulations around property ownership and rental, as well as the potential risks. Consulting with a local real estate expert (hyperlink to contact info) or financial advisor (hyperlink to contact info) familiar with the Monaco market can provide valuable insights tailored to your specific situation and investment goals. Don’t hesitate to contact us for guidance. 

Sources: 

 


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Le 26 carré or
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98000 Monao
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26 CARRÉ D’OR,
26 AVENUE DE LA COSTA,
98000 MONACO

Tel: +377 99 90 77 67 
Email: contact@prime-estate.mc