A new property development in Jardin Exotique, Monaco’s most elevated district will provide much-needed new luxury residences in a country where space is limited. With a surface area of just 2.02 square kilometres and close to 40,000 residents (including just over 9,300 Monegasque nationals), the Principality is the most densely populated country in the world. Its favourable tax system, extremely low crime rate, climate and geographical location continue to attract affluent foreigners.
A private and public project
L’Exotique, is one of several ambitious Monaco property developments underway. It will rise from rock at the upper western entrance to the city-state. The greenhouses of the Jardin Exotique – Monaco’s famous botanical garden – once occupied this space but were moved to make way for it. L’Exotique will comprise a luxury residential complex of 66 apartments, 2000 square metres of commercial premises and a separate building reserved for offices. A 15-storey underground car park will be able to accommodate 1,819 vehicles, including coaches, to encourage people to use public transport in Monaco. The estimated cost of this neighbourhood’s facelift is 150 million euros.
The private part of the project is headed by FPMC (Fine Properties Monte Carlo). The complex was designed by the architect Rudy Ricciotti, whose work includes numerous museums, such as the Mucem (Museum of European and Mediterranean Civilisations) in Marseille. His architecture has earned him the Legion of Honor, the Order of Arts and Letters, and the National Order of Merit. Ricciotti was entrusted with the design of the new greenhouses, vast stone, glass and steel structures, built on a steep terrain opposite the national museum in Jardin Exotique. Monaco’s Botanical Centre is the only such institution in the world to have undertaken the complex transportation of 10,500 succulents to a new location.
The building
The design of L’Exotique, the south-facing residential complex, features a very contemporary terraced facade. The generous use of wood, stone and luxuriant vegetation emphasises the 21st century Mediterranean aesthetic, which is further highlighted by the lush landscaped area surrounding the building. This outdoor area is partly supported by a stilts, with the commercial premises and road below it.
Residents will have a spectacular unobstructed view over the Mediterranean Sea and the Rock, the promontory where the Old Town and Prince’s palace stand. They will also have use of an indoor swimming pool, a hammam and a sauna.
Apartments in L’Exotique are already up for sale, although the project is not expected to be completed until the first quarter of 2022. The asking price for the smallest is 6,000,000 euros.
The building is crowned by three penthouses with terraces. The indoor area is composed of a kitchen, a dining room opening onto a terrace, three en suite bathrooms, two guest toilets and two cellars. A vast roof terrace with a swimming pool stands above it.
The Principality’s diminutive size, swelling population and rocky terrain have forced it to constantly challenge the creativity of architects and urban planners. With the emergence of developments such as Tour Odéon in the northeast of the country, the future eco-district, Portier Cove (which will stand on a land extension), and this stunning new development in Jardin Exotique, Monaco is pursuing its eternal metamorphosis.