Monaco Unveils Mareterra: A New Luxury District on the Sea
Monaco has officially inaugurated its new luxury district, Mareterra, a monumental project that expands the principality's territory by 3% through land reclamation from the Mediterranean Sea. Launched in 2015 and completed in December 2024, this six-hectare development features 120 high-end apartments and ten exclusive villas, with prices reaching up to 120,000 euros per square meter, making it one of the most expensive neighborhoods in the world. The inauguration ceremony was attended by Prince Albert II and other members of the royal family, who have lent their names to various public spaces within the district, including the Place Princesse Gabriella and the Promenade Prince Jacques.
The Mareterra project, which cost over 2 billion euros, was designed with sustainability in mind. The construction involved the careful relocation of 500 square meters of Posidonia seagrass beds, essential for marine biodiversity, to mitigate the environmental impact of the development. Minister of Equipment, Environment and Urban Planning, Céline Caron-Diagioni, emphasized the commitment to sustainable practices throughout the project's execution, despite the challenges posed by expanding into the sea.
Architectural Marvels and Environmental Considerations
The architectural highlight of Mareterra is the striking building named
which was designed by renowned Italian architect Renzo Piano. This 62-meter high structure is built on stilts and features a modern aesthetic with a white metal facade, surrounded by pools and a marina. The development also includes a one-hectare park with approximately 1,100 trees, some of which were specially acclimatized before being planted.
Despite the luxurious appeal of Mareterra, concerns have been raised about the environmental implications of such a large-scale construction project. Critics argue that the reclamation of land has had detrimental effects on marine ecosystems, with some researchers noting that the loss of shallow waters cannot be easily compensated. However, the developers assert that extensive measures were taken to protect marine biodiversity, including the creation of habitats for fish and the monitoring of environmental impacts.
As Monaco continues to innovate and expand, Mareterra stands as a testament to the principality's ambition and commitment to luxury living, while also highlighting the delicate balance between development and environmental stewardship.
