Mareterra, Monaco’s maritime extension, fascinates and divides international press
The new Mareterra district increased the Principality's surface area by 3% © Mareterra
Given its geographical constraints, the city of Monaco carried out one of the most ambitious urban development projects in its history: Mareterra.
The new Mareterra district was built out over the Mediterranean, extending Monaco’s footprint by 6 hectares. The mammoth €2 billion project, officially inaugurated on 4 December by the Princely Family, has attracted extensive media coverage. We have put together an international press review of the extraordinary urban extension.
The world’s most expensive neighbourhood
Le Parisien describes Mareterra as a technical and aesthetic feat, but also as “the most expensive neighbourhood in the world,” with a price per square metre in excess of 100,000 euros. The newspaper mentions the wonder that Renzo Piano’s architecture inspires, the 1,100 trees that have been planted and the prestigious facilities, but also stresses the ecological criticisms. It quotes a researcher who claims that “marine biodiversity has been massacred,” despite the measures announced by the Prince’s Government.
The Financial Times also points out that Mareterra is ‘the most expensive real estate in the world,’ with prices of up to €120,000 per square metre, well above Hong Kong’s already high levels. The UK daily emphasises the exclusivity of the new Monegasque district, where speculation is rife and all the properties were reportedly already sold before the official inauguration. The project comprises 110 flats, 4 townhouses and 10 villas, all designed by an international architectural elite that includes Renzo Piano, Tadao Ando and Lord Norman Foster.
Mareterra is exceptional not only for the scale of the real estate, but also for its sustainable design. The Financial Times highlights the project’s many green initiatives, including solar panels, rainwater collection systems and significant efforts to protect the surrounding marine ecosystems during its construction. The article also stresses the project’s ambition to combine luxury, architecture and environmental commitment.
An architectural feat
The Daily Mail focuses on the spectacular and glamorous side of the extension. The article mentions the villas, costing more than 100 million euros, the private marina and the breathtaking views of the Mediterranean. In a more sensationalist tone it claims Mareterra is “the most expensive property development ever seen,” a crossover between dream and excess, intended for an elite.
Le Point also highlights the environmental prowess and technological exemplarity of the project. It stresses that Mareterra is not just a luxury neighbourhood, but a “model of sustainable construction in a marine environment,” and mentions the engineering processes and solar energy management. The weekly magazine highlights the way in which Monaco “has risen to an unprecedented environmental challenge” while maintaining its economic attractiveness.
Unparalleled anywhere in the world
CNN also recognises the engineering feat represented by the neighbourhood, and highlights its energy credentials: the use of green technologies, in particular solar panels capable of covering 80% of heating and cooling needs. The article draws attention to the efforts made to contain the environmental impact of the project, particularly on marine biodiversity. La Tribune describes Mareterra as “Monaco’s latest folly.” It underlines the uniqueness of the project, which it describes as “unparalleled anywhere in the world,” even mentioning the lack of comparisons, including in the Middle East.
La Tribune also emphasises the project’s complexity, highlighting the depth of the structure, some 50 metres, and the many technical and particularly seismic constraints that the engineers had to contend with. These challenges make Mareterra an exceptional project of unprecedented proportions.
Finally, it mentions that this extension may well be “the last” given the Principality’s geographical constraints and the environmental considerations that limit such ventures.
A controversial extension
Libération, on the other hand, takes a critical view, referring to “a new real estate development in Monaco” that furthers “the Dubaisation of the Mediterranean.” The article describes a reckless urban development strategy that harms the marine ecosystem, resulting in biodiversity being ‘irretrievably lost.’ It questions the Monegasque model, a combination of luxury, concrete and ecological marketing. Our Italian neighbours in Corriere della Sera describe it as an “eco island for the super-rich” and question the apparent contradiction between the project’s ecological rhetoric and its social reality.
The Good Life paints a picture of a project that is as ambitious as it is strategic. For the magazine, Mareterra is the embodiment of Monaco’s clear desire to attract the world’s wealthiest individuals through its strong image as a green destination. The Principality, it says, is “investing massively in its image as a green destination, dreaming of becoming a laboratory for sustainable innovation, to better redefine ultra-luxury.”
The article describes the tangible efforts that were made to combine real estate prestige with environmental awareness. One of the most striking measures was the delicate relocation of 500 m² of Posidonia meadows, carried out under the guidance of marine biologist Laurent Ballesta. A feat which, according to The Good Life, “obviously serves the Principality’s communication strategy”. Its eco-responsible stance goes far beyond marketing, however, according to the magazine. It is part of a long-term strategy, carefully designed to catch the attention of an international clientele that is increasingly sensitive to sustainable commitments. As The Good Life explains: “To attract the wealthy, Monaco is investing heavily in its image as a green destination.”
Mareterra embodies all the Principality’s aspirations: strengthening its international reputation, overcoming the constraints of a small territory and combining its luxury image with ecological demands. To summarise, while the media appear unanimous in their praise for the project’s technical and architectural prowess, there is still a degree of scepticism about the real extent of its environmental commitments.