Monaco’s plan for land extension forges ahead
Sixteen candidates have made the application deadline to undertake the massive land extension in the Principality. No further applications will be accepted, as Halloween was the deadline. The difficult job ahead for Prince Albert II, whose brainchild this is and his government is to study each candidature submitted, seven of which are Monegasque companies. A final decision on the selection of the finalists is expected before the end of this year. Then dialogue will get underway to discuss the competition for the project, which will see a new quarter of 12 hectares, comprising 300,000m2 added to Monaco in the port area. The high level negotiations will take place throughout 2007 and the nomination of the winner will be announced by summer 2008. The sea reclamation and the extension of a landmass will significantly add to the Principality’s surface and is due for completion by 2014. The reasons for justifying the land extension are numerous among which feature a new lighthouse, new luxurious residential properties as well as accommodation for permanent workers in the Principality. New attractions to boost tourism are also high on the list as well as new moorings for pleasure yachts in the port. There are also plans for a commercial shopping centre, a public parking, a national museum, a school, a crèche, a public beach and at least one hotel. The project has not yet got a price tag, but is expected to cost in the billions and will be financed by a public and private consortium. However, apparently Prince Albert II, who launched the idea back in July, is convinced of the importance of the extension for the economic growth of his Principality. The extension will be undertaken with the utmost consideration to the environment. The project will not interfere with the Larvotto Reserve, declared protected Wetland of International Importance under the 1976 Ramsar Convention; it covers 50 hectares and represents 5 per cent of the total Principality.