Construction in Monaco: the year 2020

21/07/2021

The construction sector is and always has been one of the important sectors in the Principality. The construction companies in Monaco had the possibility of continuing the sites during the confinement unlike the French companies. Indeed, the construction sector in France was hit hard by the crisis and the year 2020 was marked by a significant drop in activity with a fall of -15%. In Monaco, on the other hand, construction is doing well and is experiencing a rebound in activity of + 5.3% of turnover (source IMSEE). Construction is placed in 3rd position (turnover data) behind the sector of “scientific and technical activities, administrative and support services, real estate activities”.

Several projects are currently underway such as
Mareterra - the offshore extension project scheduled for delivery in 2025. The new district will house buildings, shops and the marina while keeping ecological considerations in mind.
Testimonio II - the housing plan that will combine landscaped areas, private and public luxury apartments. This complex will host the International School of Monaco.
L’Exotique - the project that will offer 66 apartments over 8 floors.
Mona Résidence - a project that once again meets the criteria of sustainable development.

This article is part of our Real Estate newsletter. If you want to receive it please subscribe here.

Sources
https://www.imsee.mc/Publications/Monaco-en-Chiffres-2021
https://rosemont-int.com/fr/article/gestion-de-fortune/gestion-de-fonds
https://yourmonaco.mc/carte/0
https://mareterra.com/en/news/
https://www.balkinestates.com/new-construction-projects-changing-the-face-of-monaco
https://mona.mc/