Monaco Island Rises Again
- Author George Lucasfield
- Published June 11, 2010
- Word count 537
Grand plans were in place for Monaco a couple of years ago - a new island reclaimed from the sea was to be built, and would house apartment buildings to add to the overall availability of property for sale in Monaco, offices and a new museum.
But it all came to a crashing halt as the global recession hit, and it had to be announced that the project - affectionally dubbed Princess Grace Island by locals - was to be put on the backburner with no dates announced for when the project would get underway.
The original project was open to competition, and for it to stand a chance to be chosen the enviromental impact on the Mediterranean had to be taken into account.
Two of the world's best architects were in the running to win the contract before the project was cancelled. Sir Norman Foster, whose successes include the German Parliament building, and Daniel Liebeskind. Included in the plans were thought to be some new Monaco hotels.
The brief to the bidders for Princess Grace Island was that it had to be environmentally friendly, and it is thought that this would have added considerable costs. Sustainable perhaps during the good times, but economically out of the question when Western Europe and the US were looking financial catastrophe in the eye.
Prince Albert is well known for his interest in protecting the environment, not just in Monaco but globally, and one campaign he is currently supporting actively for example is the banning of bluefin tuna fishing.
Monaco Hotels
But as the world's economy has stepped back from the brink and a fragile recovery has taken place, new plans for an island off Monaco are in the pipeline, which will give the Principality more space, including a financial area and more property for sale in Monaco via new apartment buildings.
The initial proposals are for it to be off Fontvieille, one of the five districts that make up Monaco, and Fontvieille itself is built on land reclaimed from the sea, so Monaco does have a history of success with this kind of project.
The financial area would hopefully attract more of the Hedge Fund business leaving London, and often relocating to Switzerland, while some of the existing banks in Monaco would move office there, creating a finance and commerce district.
With just a square mile to its name, property has always been an issue for Monaco, with demand pushing prices up to the extent that Princess Grace Avenue was the most expensive residential road in the world last year - Monaco's tax haven status ensures demand is pretty continuous with many people looking at real estate and property for sale in Monaco.
Property prices range in value, but typically a one bedroom apartment would start at around 2 million Euros, and two bedroom two bathroom ones with good views would be around 4 million, while a really good one with Monaco Grand Prix and harbour views are sometimes over ten million Euros - a new district would help perhaps keep prices from rising a lot more, depending upon demand.
Although it might be in a different area, locals will be hoping that the Princess Grace Island name will be retained.
Monacoproperty.net is a resource that has details of Monte Carlo hotels information and has property and Monte Carlo real estate
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- The Transformative Power of Yamaigel’s Certified Gel Eye Masks
- Checking account with cell phone protection!
- Keeping Cool This Summer: Air Conditioning Installation Services in Milwaukee
- A DIY Guide to Fixing Your Garage Door (with a Call to Garage Door Magnolia When All Else Fails!)
- Can a Bent Garage Door Be Bent Back into Shape? Don't Panic, Call Kiki Garage Door!
- How Can I Tell If My Garage Door Opener Sensor Is Bad?
- Maximizing Profitability: The Economics Behind Customizable Design Assets
- Exploring the Hidden Gems of Si Racha, Thailand
- DIY vs. Professional Movers: Pros and Cons in 2024
- MK Web Celebrates Top Position in Bourne's Premier Web Design Rankings
- The Road to Sobriety: Understanding Substance Use Disorders
- MotorKote Ultimate 40/60 Synthetic Hyper Mix 5W-30
- Exploring Denver on a Dime: A Frugal Travel Guide
- Top 10 Ways Production Scheduling in Business Central Transforms Manufacturing
- Strength Training and it's Incredible Benefits for Fat Burning
- Enhancing Home Security with Aluminum Shutters: A Focus on Weatherwell Elite
- 5 Easy Ways to Make Oral Hygiene Fun for the Whole Family
- Transforming Plastic Extrusion Machines into Recycling Powerhouses
- Unraveling the Potential of Plastic Extrusion Machines
- The Rise of Plastic Recycling Machines: A Step Towards Sustainability
- Strawberry Cheesecake Ice Cream: OMG! Unreal!
- The Advantages of Using Professional Home Cleaners in Ilford
- 8 Compelling Reasons to Hire Professional Home Cleaners
- The 12 Steps Narcotics Anonymous Program To Recovery
- Send Money to Tanzania: Effortless Transfers with SafariRemit
- Stylish Savings: 10 Frugal Ways to Stay Fashionable in 2024
- Fly Cheap With FlightPapa To Any City
- How Collaborating with a Software Development Company Can Propel Your Business Forward
- A Comprehensive Guide to Choosing the Best Hair Transplant Method
- 15 Frugal Tips for a Memorable Wedding Day