A project of unprecedented scale and ambition is transforming the residential landscape of the small principality of Monaco. Portier Cove is not only Europe’s most ambitious construction project but also Monaco’s most cutting edge and innovative one. As far as Monaco new developments go, Portier Cove is one of a kind. The $2.4 billion land reclamation will create over six hectares of new residential and public space, on what is currently the Mediterranean Sea, next to Larvotto beach. It will be the Principality's first eco-district.
Villas, houses and apartments designed by Valode & Pistre and the Pritzker Prize-winning architect Renzo Piano, will be built to address the demand for luxury Monaco property. The values of these homes and the large footprint of each unit, promise to eclipse what were previously considered the finest homes in Monaco.
Standing on the Larvotto seafront, one can see the huge construction cranes dredging millions of tonnes of seabed. The shallow harbour will then be built up to create the new residential quarter, using six million tonnes of imported Sicilian sand.
Since conversation and marine life are at the heart of Monaco’s and H.S.H Prince Albert II’s sustainability ethos, there is a genuine commitment to preserving marine life and the delicate eco-system of the area where construction is taking place. As such, marine scientists are integral to the project and ensuring that all possible species of sea life are preserved. New seabeds are being created to relocate delicate species and to ensure their protection.
Unlike other new developments in Monaco, Portier Cove will also boast sophisticated sustainability credentials. Rain recovery systems, e-bike stations, solar energy panels and thermal pumps will all ensure that energy consumption is in line with the Principality’s goal to be completely carbon-neutral by 2050. Furthermore, the Portier Cove neighbourhood will be pedestrianised, to encourage walking and promote the green ethos underlying the development.
The expected completion date for the development is 2025. However, there is already a lot of interest from the market and buyers looking to acquire units off-plan prior to completion. If this is something that you are interested in, please contact Ageprim today to discuss potential availability.