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Monaco's Mediterranean Expansion | The B1M

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04:53   |   Apr 04, 2018

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Monaco's Mediterranean Expansion | The B1M
Monaco's Mediterranean Expansion | The B1M thumb Monaco's Mediterranean Expansion | The B1M thumb Monaco's Mediterranean Expansion | The B1M thumb

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  • The small European nation of Monaco is facing a housing crisis.
  • While it’s one of the wealthiest countries in the world, and a playground for the rich
  • and famous, there simply isn't enough land to cater for the growing number of millionaires
  • now looking to call Monaco their home.
  • With a population of 38,000 living in an area not much bigger than London’s Regent's Park
  • - and with an estimated 2,700 people expected to move to Monaco by 2026 - the issue of space
  • has become critical.
  • With resistance to the construction of skyscrapers - partly because they could block existing
  • sea views and partly because of a clear preference for villas amongst residents - a USD $2BN,
  • 15 acre expansion out into the Mediterranean Sea is now underway.
  • When completed in 2025, the expansion will provide enough land for 1,000 new residents,
  • alongside a marina and extensive public spaces.
  • Land reclamation is nothing new for Monaco. Bordered by France to the North, East and
  • West, the only option that the state has for expansion is Southwards, out into the sea.
  • Since the first land reclamation in the late 19th century, the country has grown in area
  • by over 20% through various expansions; the largest of these being the Fontvieille Ward.
  • The new expansion, called Portier Cove, will be entirely financed by the private sector.
  • Developers will profit from new residential projects on the reclaimed land which are expected
  • to sell at prices of over USD $100,000 per square metre - more expensive than property
  • in London, Paris or New York.
  • Located near the famous Monte Carlo Casino, Monaco’s Government will own over USD$ 610M
  • worth of new assets and civic space on the reclaimed land; including the seafront promenade,
  • parks and gardens, and the expanded Grimaldi Forum.
  • The project was awarded to the French arm of Bouygues Construction in 2015 after their
  • successful delivery large scale projects in Morocco, South Korea and France.
  • With environmental considerations being given particular focus, and with developers looking
  • to set a new benchmark in environmental design, extensive protection works were undertaken
  • before construction commenced.
  • Numerous plant and animal species were relocated from areas around the project site to a nearby
  • marine reserve where they will be remain until the project is completed, and a series of
  • man made reefs have been established to replace lost habitats.
  • Submerged screens have been installed around the site to minimise the impact that dredging
  • will have on the surrounding ecosystem, and the new coastline has been designed to conform
  • to the natural flow of sea water so as not to disrupt the current once complete.
  • To construct such a vast area of new land, contractors are spending 40 months dredging
  • silt from the seafloor to expose the bedrock.
  • From there, 18 concrete caissons, each weighing
  • 10,000 tonnes and standing 26m (or 85 ft) tall, will form a protective underwater belt
  • that prevents the new land being washed away in large swells.
  • The area within the caissons will then be filled with over 1.5M tonnes of rock from
  • a nearby quarry in France and with marine sand shipped from Northern Sicily.
  • The land reclamation phase of the project is expected to be completed by 2020, when construction
  • of the civil and residential developments will begin.
  • Set to contain 120 luxury residences in a new “eco-neighbourhood” the expansion
  • will emulate Monaco's natural topography with structures gradually increasing in height from low-lying
  • villas along the promenade to larger apartment towers inland.
  • When complete in 2025, the Portier Cove expansion will serve the growing number of people seeking
  • to move to Monaco and stand as an impressive benchmark for future land reclamation projects
  • around the world.
  • If you enjoyed this video and would like to get more from the definitive video channel
  • for construction, subscribe to The B1M.

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Description

The small European nation of Monaco is facing a housing crisis. As a result, a $2BN, 15-acre expansion into the Mediterranean Sea is now underway. For more by The B1M subscribe now: http://ow.ly/GxW7y

Read the full story on this video, including images and useful links, here: http://www.theb1m.com/video/monacos-mediterranean-expansion

Images courtesy of CREVISIO, Andreas Einaudi, Hampus Cullin, Valode + Pistre Architects, Google, Dan Cortese, Jan De Nul Group and Bouygues Construction.

This video was originally published on 04 April 2018 with an incorrect image credit at #. The correct credit for this image is CREVISIO. This was amended on 04 September 2018. Learn more about CREVISIO here: http://crevisio.com

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