Today we dive into Monaco’s newest living area. Located just behind the Casino and the Fairmont Hotel, we find a brand-new apartment complex. The Mareterra complex presents a novelty, as it is built into the sea, expanding the Monegasque territory. The focus of Mareterra is sustainability.
Check out the video to see Mareterra for yourself and get acquainted with the area.
Monaco at a glance
The Principality of Monaco is a microstate, located on the Côte d’Azur between France and Italy. It is the second smallest sovereign state of the world after Vatican City. Monaco is known to be one of the wealthiest countries in the world. It is the home of the legendary Monaco Grand Prix, it has one of the most prestigious yacht ports, the most famous casino in the world, and an infamous tax system as there is no income tax, except for French people.
As said before, Monaco is a principality. The Head of State is Prince Albert II of house Grimaldi. While Monaco is a constitutional monarchy, the prince has an above average level of influence in the governance of Monaco.
While Monaco is formally a sovereign country, the city-state has a special relationship with France. The Monegasque Minister of State is usually a French person, to oversee and allow French influence in the governance of Monaco. there is a special economic union between France and Monaco, which allows Monaco to reap the benefits of for example the European Union. To summarize, Monaco exercises its sovereignty in alignment with French interests.
The construction of Mareterra
With a population of 36.297, and a landmass of roughly 2.1 square kilometers, Monaco is the second most densely populated state in the world, being surpassed only by Macau. It is therefore no surprise that a large part of Monaco is currently being constructed on. As part of this expansion drift, Prince Albert II opened the Mareterra apartment complex in December of 2024.
Mareterra derives its name from the Italian mar e terra meaning sea and land. But that is underselling it. The complex is built entirely in the sea. Construction started in 2016 with the first stage: creating land. A large concrete belt had to be made to serve as foundation. The result was a 6-hectare piece of land coming out of the sea. This addition meant that Monaco had expanded its territory by nearly 3%. The belt was completed in 2019, kicking off the second stage: the construction of the different apartment buildings and villas.
Sustainable living
In both the construction and the formulation of what Mareterra was going to be, the focus was sustainability. When the creation of the belt started, specialised teams were brought in to assist in the preserving of Posidonia. Posidonia, or Neptune grass, is a seaweed that is essential for the marine ecosystem of the Mediterranean. Neptune grass produces oxygen, serves as food and shelter for marine life, and plays an active role in stopping coastal erosion. The 510 square meters of these grasses were removed and replanted.
The foundation was also constructed with marine life in mind. The special caissons were built with empty spaces. This gives space to the marine life, while still protecting the coast from the sometimes-rowdy Mediterranean Sea.
Monaco aims to be carbon neutral by 2050. Mareterra proves essential in achieving this as well. 800 trees were planted, 9000 square meters of solar panels were installed, and 80% of heating and cooling is done using renewable energy. There are also facilities that collect and reuse rainwater, and the complex promotes sustainable means of transportation. There are bike stations, and all parking facilities can be equipped with charging stations for EV’s.
Rich people only?
While many applaud the efforts behind the Mareterra project, some also criticise the building. There are two main concerns. First: the visual aspect. Mareterra is built right behind the Monte Carlo Casino and the Fairmont hotel. Both are iconic spots in Monaco. With its new style of architecture, Mareterra jumps at you visually. Some people complain that the skyline is now ruined. This is of course personal taste.
The average price is also the subject of critique. On average, Mareterra prices are set at 100.000 euros per square meter, making it one of the most expensive living areas in the world. For reference, the average in the EU is 6000. Monaco’s average was 51.760. Important to note is that these figures come from before the opening of Mareterra.
The fact of the matter is that the Mareterra complex is incredibly high-end, and unaffordable to the average person. Is this sending the message that sustainable living is only for the rich? No. A lot of money needs to be spent in order to realize a normalization of access to knowledge and supply. this is the case with all innovations. Take for example cars. The technology behind the hybrid car was first developed within Formula One. Massive amounts of money are needed to propel an innovation like this. The innovations of Mareterra can help in creating a more sustainable housing market in the future.
