On Wednesday, July 27, the National Council voted in favour of a bill that would remove a plot of land to enable the construction of a real estate project.

The local government will decommission a piece of land that was formerly part of the State's public domain, on Esplanade des Pêcheurs, Quai Rainier I Grand Admiral de France and part of Quai Antoine I.

With the planned development, a surface area of 5,800 m2 would be released, ensuring the Grand Prix's long-term viability and allowing it to be used for other events throughout the year. Furthermore, with this new configuration, access by emergency services will be assured.

Museum

The rest of the space will be occupied by the museum, which will have a 5,000+ m2 collection. Thousands of items will be on exhibit; new scientific and instructional initiatives will also be promoted.

Housing and parks

A new development will be constructed on the site of the former Yacht Club, including several enterprises and 23 state housing units. Public parks, a pedestrian connection between the esplanade and Monaco-Ville, port professionals' facilities, offices, as well as private housing are planned.

CGI plans from Group Caroli

Plot summary (in yellow) from National Council for Explanade des Pêcheurs

If you are interested in purchasing or selling Monaco real estate, contact one of our team today. You can call our agency on: +377 97 70 42 00 or email the team directly via: monaco@savills.com.