Luxury Travel
Monaco’s $2.4 Billion Plan to Stay Relevant? Expand The Coastline
The principality is taking a page from Dubai’s playbook with a lavish land expansion over the sea.
First-time visitors to the Monte Carlo Casino for next weekend’s Grand Prix may not find the view they’re expecting. In the place of sea vistas are screens shielding the coast; in the water, dredgers are strategically placed, like warships. “Monaco’s yachts don’t look as glamorous these days,” one visitor jokes.
The construction is the first step toward creating new, ritzy Riviera housing on land that is currently underwater. Since 2016, the principality’s government has been pouring thousands of tons of Sicilian sand into the shallow harbor at a cost of $2.4 billion.