Breaking News: Monaco Built a $2.3 Billion District on the Sea — and…. Read More

Monaco Built a $2.3 Billion District on the Sea — and….

Monaco has long been one of the favourite homes of Formula 1 stars, but the tiny Mediterranean principality has found a remarkable way to create more space: building new land directly on the sea.

The result is Mareterra, a spectacular new neighbourhood created on reclaimed land in the Mediterranean. The development, which cost roughly €2 billion ($2.3 billion), has added around 3% to Monaco’s territory and has quickly become one of the world’s most exclusive residential addresses.

Among the high-profile residents associated with the development is four-time Formula 1 world champion Max Verstappen. According to recent reports, the Red Bull driver moved into Mareterra’s Le Renzo development in 2026.

During the 2026 Monaco Grand Prix weekend, Verstappen reportedly pointed out his building while speaking with fellow drivers Kimi Antonelli, Sergio Pérez and Isack Hadjar during the drivers’ parade. The moment was captured by Formula 1 cameras and subsequently attracted attention because of the unusual way the location of his new home became publicly known.

Mareterra: Monaco’s New Neighbourhood on the Mediterranean

Mareterra was created because Monaco has an unusual problem: there is very little land left for the principality to develop.

Measuring only around two square kilometres, Monaco is one of the world’s smallest countries. Rather than expanding into neighbouring France, the country has repeatedly looked toward the Mediterranean for additional space.

Mareterra is the latest and most ambitious example of that strategy.

The project covers approximately six hectares, equivalent to about 15 acres, and has extended Monaco’s territory by approximately three per cent. It includes luxury residences, villas, public spaces, restaurants, shops, a marina and a seafront promenade.

The neighbourhood was officially inaugurated by Prince Albert II of Monaco and the princely family on December 4, 2024, marking the completion of one of the country’s biggest construction projects in decades.

A Luxury Development Built on Reclaimed Land

Mareterra was not simply constructed beside the sea. Much of the new district was created through a complex land-reclamation project that effectively pushed Monaco’s coastline farther into the Mediterranean.

The project was conceived under Prince Albert II and developed through private investment. Construction involved hundreds of companies and thousands of workers.

According to Monaco Tribune, more than 300 companies and around 6,000 people worked on the development. The district was completed about six months ahead of its original schedule.

The development contains around 130 residential properties, including apartments, villas and townhouses. Recent Forbes reporting says all of the apartments and villas had sold before the neighbourhood was completed.

Designed for the Super-Rich

Mareterra was created with Monaco’s ultra-luxury property market firmly in mind.

The neighbourhood includes the striking Le Renzo residential tower, designed by renowned architect Renzo Piano. The architecture is intended to blend modern luxury with the surrounding Mediterranean environment.

The district also features waterfront homes, landscaped public areas, restaurants, shops and a marina.

Recent Forbes reporting describes Mareterra as one of the world’s most expensive neighbourhoods, with some properties selling for extraordinary sums. The publication reported that apartments have reached prices of around $12,900 per square foot, while some of the most expensive residences have been valued at hundreds of millions of dollars.

That makes Mareterra a natural fit for Monaco’s billionaire residents and internationally famous personalities.

Why F1 Stars Love Monaco

Fo Verstappen, living in Monaco means being just minutes from the circuit where he competes during the annual Monaco Grand Prix.

He is far from the only Formula 1 star attracted to the principality. Monaco has historically been home to several famous drivers, including current Ferrari driver Charles Leclerc and seven-time world champion Lewis Hamilton.

The combination of luxury, privacy, Mediterranean scenery and Monaco’s favourable tax environment has made the principality particularly attractive to wealthy international residents.

Verstappen previously lived in Monaco’s Fontvieille district before moving to his newer residence in the Mareterra area, according to reports.

Built With the Future in Mind

Despite its extraordinary luxury, Mareterra was designed with environmental and climate considerations in mind.

The development incorporates measures intended to protect marine biodiversity during construction and includes public spaces, landscaped areas and features designed to interact with the surrounding marine environment.

The project was also designed to account for a potential one-metre rise in sea level over the next century, while meeting strict seismic standards.

An underwater observation feature known as the Blue Grotto was also incorporated into the project, reflecting the developers’ emphasis on marine life and environmental monitoring.

Monaco’s Most Ambitious Expansion Yet

Mareterra is more than another luxury property development. It represents Monaco’s continuing attempt to solve its biggest geographical problem — how to create more space without having anywhere on land to expand.

The principality has previously reclaimed land to create areas such as Fontvieille and Larvotto. Mareterra continues that tradition on a much larger and more technologically ambitious scale.

Prince Albert II officially inaugurated the district in December 2024, describing the extension into the sea as a symbol of Monaco’s ambition and ability to shape its future.

And now, less than two years after its inauguration, Mareterra has become home to one of Formula 1’s biggest stars.

For Max Verstappen, who spends one weekend every year racing through the streets of Monaco, the setting is about as convenient — and luxurious — as it gets.

• Monaco didn’t just build another neighbourhood. It built one on the Mediterranean, and Verstappen is now one of the famous names calling it home.