New Real Estate Projects in Monaco by 2030

Monaco, with just 2.08 km² of land, continually reinvents itself in terms of urban planning. As we recently saw with the delivery of the offshore extension Mareterra, bold works regularly appear, reflecting a Monegasque real estate market in constant effervescence. Whether it's projects whispered behind the scenes or officially announced constructions, each novelty helps shape the Principality of tomorrow. Staying informed about new developments has thus become essential, both for residents and investors, to anticipate the continuous transformation of Monaco's urban landscape by 2030.

In this article, we offer a structured overview in two parts: first the projects that are still unofficial or confidential, then the programs already announced, under construction, or recently unveiled. You will discover how Monaco continues to exploit every square meter to build its future, between state-owned housing for Monegasques and luxury residences defying the limits of architecture.

Behind-the-Scenes Projects: Between Rumors and Early Stages

Before they are confirmed, many real estate projects in Monaco circulate as mere hearsay. These initiatives, sometimes contingent on sensitive land agreements or regulatory changes, demonstrate the ingenuity deployed to carve out space in an already saturated territory.

A Pastor Project near SMEAUX (Larvotto)

The J.B. Pastor & Fils group is said to have its sights on a strategically located plot near the headquarters of the Société Monégasque des Eaux (SMEAUX), along Boulevard du Larvotto. Recently decommissioned by the State, this approximately 305 m² site, previously a public garden, was transferred to the developer for €80 million. The goal? Build an 11-story private residence in this corner of Larvotto, slightly encroaching on the neighboring property (Villa Larvotto No. 1) to expand the project's footprint. Although the precise plan remains confidential, the main outlines are clear: a high-end building close to the sea, with plans below for a ~242 m² vegetated pedestrian forecourt and the requalification of the adjacent small public garden for enhancement. This project highlights the current trend to optimize every available parcel. It is part of a broader negotiation with the State – to which we return below – and confirms the dynamism of the local private sector, always ready to invest in creating new prestigious addresses in the Principality.

Larvotto – Exotic Garden Exchange: Public Housing for Private Land

Parallel to the private project at Larvotto, Monaco has been working on a large-scale land operation: an exchange between the government and the developer. The State indeed swapped this piece of Larvotto garden for a plot owned by J.B. Pastor & Fils on the heights of the Exotic Garden. The stated aim is clear: to build state-owned housing for Monegasques. Thanks to this exchange, the Monegasque government recovers the site of the former “Le Prestige” building at 25, Chemin des Révoires, allowing the construction of 76 to 90 state-owned apartments in the Exotic Garden neighborhood. In return, the private developer gains rights over the Larvotto plot where it will build its luxury building. Enshrined by a decommissioning law passed in early April 2025, this maneuver represents an original public-private balance: on one hand, a developer carries out a private project on the waterfront; on the other, the State will house dozens of Monegasque families on the heights. According to Mikaël Palmaro, the elected rapporteur of the bill, the operation will additionally provide new publicly accessible green spaces in Larvotto, while aligning with the National Housing Plan. Although the architectural details of the two future buildings remain to be confirmed, the agreement underscores Monaco's creativity in creating housing in an ultra-constrained land context.

The Mystery of “41G” on Rue Grimaldi

In the Condamine district, another project draws attention under the code name 41G. It reportedly involves an operation led by a Monegasque developer around 41, Rue Grimaldi, a well-known address just steps from Rue Caroline. Rumors were partially confirmed in 2024 when authorities considered adjusting urban planning rules to allow for taller construction on this site. Concretely, two small villas located at No. 39 and No. 43 Rue Grimaldi would be demolished to free up land. A decommissioning law adopted in April 2025 reclassified a 144 m² state-owned plot adjacent to 41 Rue Grimaldi as private, enabling its transfer to a private operator. The stated objective: to allow the erection of a contemporary 18-story building on this site. In exchange, the developer must hand over three new apartments (two two-bedroom units and one one-bedroom unit) plus parking spaces and cellars, valued at €11.84 million (based on €40,000/m²). This arrangement, still in the study phase, illustrates Monaco's willingness to adapt its urban plan to unlock projects previously limited by height or aesthetic regulations. The “41G” could soon see the light of day if the Municipal Council gives its final approval. Monegasques might then witness the disappearance of old structures in favor of a modern tower in the heart of Condamine, reshaping the skyline of this historic district.

In Front of the Rose de France: Construction in the Golden Square?

Even the luxurious Monte-Carlo district is not immune to speculation. A potential project in front of the Rose de France building, on Boulevard de Suisse, fuels discussions. The Rose de France is a beautiful low-rise bourgeois building overlooking Port Hercule. There is said to be a space or small garden in front of this building that could be used for construction. No official announcement has been made, but the idea of building “in front” of the Rose de France illustrates the extreme rarity of land in the Principality. Monaco no longer hesitates to study the valorization of the smallest infill sites or enclaved parcels. In this context, even a private garden or a vacant lot near the Port could become the site of a future real estate program. Recent decommissioning laws show that the government is prepared, under strict conditions, to convert portions of its public domain to private operators. The case of the Rose de France could follow this trend, although no plans have emerged so far. If the project comes to fruition, it will be essential to preserve the area's heritage character while adding a modern structure – a typical balancing act in Monaco. For now, the project remains a rumor, symbolizing the real estate frenzy reaching the most unexpected locations in the Principality.

At Gastaud Square: Architectural Rumor

On the side of Square Théodore Gastaud – a charming little square in the heart of Condamine – a mysterious project sparks curiosity. Square Gastaud has already seen recent transformations, with the demolition of old buildings in 2020 and the completion of the luxury residence Villa Portofino in 2022 nearby. Now all eyes turn to an adjacent parcel where a new private building could emerge. Some see it as an opportunity to restructure the block bordering the square, while others mention a possible project led by a foreign investor. The code name suggests a prestigious development, possibly a mixed-use building with high-end features. Another project in the square is the reconstruction of the historic CFM Indosuez bank branch overlooking Square Gastaud. The bank has launched an architect competition to modernize its local headquarters, with the hypothesis of adding extra floors to its current building to better integrate it into the neighborhood's style. At this stage, no official information is available about this program. It remains an urban whisper, feeding the fever of a market where every player seeks to sign the exceptional work that will mark Monaco.

Villa du Pont (Sainte-Dévote): Imminent Demolition and Reconstruction

Villa du Pont, a building near the Sainte-Dévote bridge (not far from the train station), is probably living its last months in its current form. This bourgeois building, which until now housed offices and a commercial space over three levels, is scheduled for short-term demolition and reconstruction. Groupe Marzocco, its current owner, has leased the premises until the end of 2025, suggesting that from 2026 the site will be freed to begin work on the new project. Although precise details are not public, one can imagine a new, larger building replacing Villa du Pont, maximizing this central plot just steps from the Casino. Perhaps a mixed-use building with ground-floor shops and high-end apartments above, benefiting from generous openings onto Boulevard Princesse Charlotte. The transformation of this part of Monaco is part of a broader movement: in recent years, old buildings have fallen to the ground in days, reduced to rubble, making way for new constructions springing up like mushrooms. This renewal frenzy spares no district, not even the historic fringes of Sainte-Dévote. The reconstruction of Villa du Pont will help modernize the welcome for visitors arriving by train – they will see a resolutely new Principality as soon as they exit the station. It is another stone added to the Monaco 2030 edifice, where past and future succeed each other at a steady pace.

In summary of this first part, despite the secrecy surrounding these projects, a common theme emerges: Monaco anticipates its urban future by cleverly negotiating its land and adapting its regulations. Public gardens exchanged for social housing, villas sacrificed for slender towers, building elevations – all testify to an unyielding will to push the boundaries of the possible. For the attentive observer, these clues reveal what the Principality will look like in a few years. Let us now move on to the projects already official, which are rising from the ground or about to do so, and which will reshape Monaco by the end of the decade.

Announced, Under Construction, or Unveiled Projects: Monaco Is Transforming

Several real estate programs have been publicly announced in recent years, with works underway or imminent. They cover both the public housing essential for Monegasque residents and ultra-luxurious private constructions. Here is an overview of the main sites that will shape Monaco by 2025–2030.

The Lierres – Nathalie: A New Tower Facing the Tour Odéon

Overlooking Avenue de l’Annonciade, directly opposite the famous Tour Odéon, the project The Lierres – Nathalie embodies the ambition of the National Housing Plan. Led by the Princely Government, this program involves demolishing two aging buildings (Les Lierres and Nathalie) to replace them with a 17 to 19-story tower (R+17/R+19) with 3 to 5 basement levels. The site work is complex: it must be phased to maintain the stability of the surroundings and even transfer seismic loads from the adjacent Tour Odéon during construction. Beyond engineering feats (top-and-down foundations, 3D geotechnical modeling), the project also plans a new underground road connection between lower Avenue de l’Annonciade and a future infrastructure under the upper avenue, improving traffic flow in the district. With a budget of around €150 million, the operation is overseen by Monaco’s Public Works Department. In the long term, The Lierres – Nathalie will provide additional state-owned housing in a contemporary building, integrating into the cityscape beside the Odéon. This government-led real estate arm demonstrates that Monaco is investing heavily to house its population while modernizing the city’s eastern entrance. The silhouette of this future tower, rising near the Odéon, will mark the neighborhood’s renewal upon its expected completion around 2027.

Bel Air (Exotic Garden): Three Green Towers for 197 State-Owned Apartments

At Monaco’s western extremity, the Bel Air project is a flagship public development advancing rapidly despite some delays. Overlooking Boulevard du Jardin Exotique, the former 11-story Bel Air building (constructed in 1966) has been completely demolished to make way for a brand-new state-owned complex of 197 apartments. Rather than a single slab, three interconnected towers designed by architect Patrick Raymond will emerge. These towers will adopt a decidedly ecological aesthetic, with vegetated facades blending into the rock. In terms of housing, mixity is prioritized: from cozy two-room units to family-sized five-room apartments, including numerous three- and four-room units (48 two-room, 81 three-room, 61 four-room, and 7 five-room planned) to accommodate a wide range of households. The program also includes a nursery with about fifty crèche places, an 84 m² convenience shop, around ten offices, and a 301-space parking garage – enough to create a true small community center for Bel Air residents and the neighborhood. Initially hoped for 2026 delivery, the site is now expected to be completed in 2027. Once finished, Bel Air will significantly increase the supply of state-owned housing and requalify the city’s western entrance, which has been transformed in recent years by the renovation of Jardin Exotique and the opening of the new intermodal station. This “vertiginous” project illustrates Monaco’s commitment to sustainable and socially inclusive urbanization.

Villa Maria (Moulins District): Renaissance of a Townhouse

Near Place des Moulins, an elegant bourgeois building is being reborn as Villa Maria. This private upscale project involves the demolition and reconstruction of a historic villa at 6 Boulevard d’Italie, while preserving its listed façade. Launched in 2021 and managed by FPMC, the works are in progress. The challenge was to modernize the entire interior (digging basements, redistributing floors) while protecting the Belle Époque exterior. According to Engeco, the contractor, Villa Maria benefits from a “façade to preserve” status, requiring specialized techniques to shore up and safeguard the frontage during the demolition behind it. Today, Villa Maria is being reborn as a luxury private residence akin to a contemporary mansion, offering high-end apartments.

Villa Lucia (Pont Sainte-Dévote): 14 Floors of Luxury above the Station

In the Moneghetti district, a new edifice is rising: Villa Lucia, a luxury residence under construction at 35 Pont Sainte-Dévote, just next to Monaco’s train station. Designed by Monegasque architect Alexandre Giraldi, the building aims to symbolize sophisticated modernity in this renewing area. Fourteen floors are planned, with the first nine levels each housing a single unique apartment, giving each owner a private floor. The top levels will form an exceptional quadruplex with a private rooftop pool – a rarity in the city. Catering to a discerning clientele, Villa Lucia will offer services worthy of a palace: 24/7 concierge, valet parking, a wellness area with spa and premium fitness room, etc. The construction involves demolishing two existing structures (the old Villa Lucia and Villa Sainte-Cécile) to free up space for this slender tower. Embracing an environmental approach, the residence will likely integrate landscaping and sustainable materials, in line with current Monaco trends. Delivery is scheduled for 2026. Once completed, Villa Lucia will tower over Monte-Carlo’s eastern entrance, offering its residents breathtaking views of the Principality and the sea. This ambitious project demonstrates Monaco’s desire to combine architectural boldness and prestige to entice an international clientele while transforming the station district into a new residential hub.

Maison Valentina (Condamine): Contemporary Elegance at the Heart of the City

In the lively Condamine district, steps from the Major Slope and the Place d’Armes market, Maison Valentina is about to rise. This new building, unveiled in 2024, promises to be much more than a simple residential address: it is a development that will reshape an entire urban block at the foot of the Rock. Located on Avenue Prince-Pierre, the project required demolishing three existing buildings, marking a significant step in Condamine’s architectural renewal. In their place will stand a modern seven-story building blending housing and retail, with a style that respects the district’s bourgeois spirit while adding a touch of high-end modernity. A notable feature: a large portion of Maison Valentina is likely reserved for a well-known Monegasque bank – rumors suggest a private bank will establish its offices or house its employees there. The development thus straddles luxury residential and commercial real estate. Thanks to its exceptional location (immediate proximity to the underground station, Port Hercule, and shopping streets), future occupants will enjoy a practical and dynamic living environment. The ground floor will likely host shops to animate the sidewalk, complementing the nearby municipal market. Maison Valentina also symbolizes quality: refined architecture, integration into the existing fabric, and contemporary amenities. Not yet officially marketed (sales have not started), this program already attracts connoisseurs’ interest. Its completion in the coming years will reinforce Condamine’s appeal, confirming that Monaco knows how to renew its city center without betraying its historic authenticity.

Upper Larvotto Project: 35 State-Owned Apartments and a Data Center

Back on the heights of Larvotto, another major public project is about to start: the “Upper Larvotto” program. Approved in early 2024 by the Municipal Council, it plans the construction at 19 Boulevard du Larvotto of a state-owned building with 35 apartments that will include a data center for Monaco Telecom. The site is currently a modest 1,083 m² green slope, located behind the “L’Estoril” residence and surrounded by existing towers (La Radieuse, Le Floridian, etc.). To exploit this last available space in the district, an architectural competition was held. Monegasque architect Benjamin Boisson won with an innovative design: the building will feature a central opening and a vegetated façade made possible by a green lattice, plus terrace landscaping that follows the terrain. Construction should begin in 2025 with delivery expected by 2027. Functionally, the building will have about 10 above-ground levels housing 25 two-room units, 7 three-room units, and 3 four-room units for Monegasque families. The underground levels will reserve 1,550 m² for Monaco Telecom’s future data center, addressing a strategic need for digital sovereignty. The budget is around €45 million. This Upper Larvotto project fully aligns with the State’s housing policy: it uses one of the district’s last available lots to create additional state-owned apartments while providing the Principality with modern technological infrastructure. In a few years, a new eco-designed silhouette will overlook the sea at this location, illustrating the convergence of urban innovation and environmental requirements.

Tour CMB “Red” (Avenue de la Costa): A New Skyscraper for Monaco

The Monte-Carlo/Golden Square skyline is about to welcome a new bold tower: Tour CMB Red. This 23-story skyscraper will be erected at 23 Avenue de la Costa, on the site of two century-old villas – La Palmeraie and Le Colibri – which belonged to CMB Bank and the Monegasque Red Cross respectively (Two more villas (will very soon) bite the dust – NEWS.MC – Monaco News). Their demolition, already underway since late 2023, will last about 11 months. On the cleared site, the plan is to build a high-rise structure on stilts, with ground-level greenery to preserve a corner of nature. The tower will host the new headquarters of the Compagnie Monégasque de Banque (CMB) and the Monaco Red Cross, likely occupying the lower levels. The upper floors will be dedicated to high-end residences (25 apartments) for sale or rent. The current plan specifies 22 four-room apartments and 3 luxury six-room-plus apartments, suggesting generous living spaces by Monaco standards. An eight-level underground parking garage will offer 111 spaces – a valuable capacity in this central area. The works, including demolition, are expected to last about 36 months, leading to delivery around 2026–2027. Tour CMB Red, with its dual role as a banking headquarters and luxury residences, will deeply mark the Monte-Carlo/Golden Square horizon. It embodies Monaco’s orientation toward vertical constructions combining economic and residential functions. In a few years, looking up from the Casino gardens, one will see this new red-and-glass edifice, a symbol of the Principality’s triumphant modernity.

Villa Ninetta (Exotic Garden): Belle Époque Tradition and Innovation

Not far from the Bel Air site, another residence is beginning to make headlines: Villa Ninetta, located at 3 Rue Malbousquet in the quiet Exotic Garden district. This private project, almost completed and soon to be delivered, combines historic architectural charm with modern comfort. Rising ten stories, the building is designed to blend into the surrounding Belle Époque style while offering high-end contemporary amenities. Villa Ninetta will offer 27 luxury apartments, from studios to three-bedroom units, with sizes ranging from ~50 m² to over 300 m² for the penthouses. The top floors will feature spacious duplexes with panoramic terraces offering breathtaking sea and Rock views. Residents will enjoy 24/7 concierge service and a private fitness room, meeting the expectations of a demanding clientele. The interior design is sumptuous and refined, while the exterior facades boast ornate balconies and cornices reminiscent of early 20th-century Monegasque tradition. Tradition and innovation summarize the spirit of the project. Delivery of Villa Ninetta is scheduled for 2026, but some apartments are already offered “off-market” by agencies, a sign of the excitement it generates among wealthy buyers. With Villa Ninetta, Monaco proves it is possible to build anew with historic charm, preserving a district’s allure while raising its overall standard. This residence will join the list of prestigious buildings dotting Monaco’s heights and will contribute to diversifying the luxury housing supply, offering an alternative to the ultra-modern skyscrapers on the waterfront.

An Evolving Horizon by 2030

From the confidentiality of the first sketches to the undeniable buzz of ongoing construction sites, the real estate panorama we have just surveyed demonstrates one thing: Monaco is in perpetual transformation. Each project – small or large, public or private – fits into an overall vision aimed at adapting the city to tomorrow’s needs. By 2030, the Principality will have changed its face: new residential and mixed-use towers will stand where modest buildings once were, cutting-edge structures will fill the last available plots, and hundreds of new homes, both state-owned and prestigious, will welcome residents and investors.

This constant dynamism of the Monegasque real estate market is driven by demographic pressure, Monaco’s international appeal, and the political will to preserve the Principality’s unique social model. The result is a subtle balance between housing for nationals (ensuring the sustainability of the Monegasque community) and high-end developments (which contribute to the city’s prestige and funding). Projects like The Lierres – Nathalie or Upper Larvotto illustrate Monaco’s commitment to its population, while developments such as Tour CMB Red or Villa Lucia attest to its appeal among the global elite.

To stay on top of this rapid evolution, it is crucial to keep informed of real estate news. Local press, official announcements, architect and developer sites – all are valuable sources to follow work progress and new program launches. Each year brings its share of surprises and innovations, whether it be an eco-skyscraper, a heritage renovation, or an ingenious land swap. Monaco teaches us that in urban planning, ambition has no limits, even on 2 km².

In 2030, as we walk the Principality’s streets, we will see the results of all the projects currently in gestation or underway. Monaco’s skyline, redrawn, will blend even more vertical greenery, audacious structures, and Mediterranean elegance. And no doubt other projects, today mere ideas, will have come to life in the meantime. Monaco remains a permanent construction site where the future is written faster than anywhere else – that is the urban magic of this exceptional rock.

In short, from backstages to center stage, from plans to completed buildings, Monaco continues to build its future relentlessly. For those interested in new real estate projects in Monaco and upcoming constructions scheduled by 2025–2030, the message is clear: keep your eyes open and stay connected, because the Principality’s metamorphosis is underway and nothing seems able to stop it. Every new crane on the horizon is a promise of a renewed Monaco, ready to meet the 21st century’s challenges in superlative style.