All Press Releases for January 21, 2013

Monaco's Skyline to be Dominated by New Landmark Property in 2014

The Tour Odeon, Monaco's tallest and grandest building project in decades, is set to take luxury living to new heights in the Principality.

    NICE, FRANCE, January 21, 2013 /24-7PressRelease/ -- The Tour Odeon, due to be completed in 2014, is a 170 meter, 49-floor double skyscraper billed to be the tallest and most lavish development in Monaco since Le Millefiori and L'Annonciade, residential towers built in 1969.

The project is being overseen by architect Alexandre Girald and interior designer Alberto Pinto.

Girald, who is currently collaborating with Lord Norman Foster on the new yacht club in Monte Carlo, is regarded as the most important and influential architect working in Monaco today. Pinto is lauded as a master of modern European architecture and with the collective vision of the pair it is believed that a new, gold standard in residential lifestyle and architecture will be unveiled with this build.

The build, built to house both residential and commercial premises, will rise 558 feet into the skyline and comprise of some of the most sought after properties for sale in Monaco. The first 3 levels will be dedicated to retail including a luxury supermarket. Whilst apartments up to the 19th floor will be designated for the use of the Monaco government and privately owned residences will be assigned from the 20th floor to the roof.

Of the 259 available properties, only 24 have been given initial pricings starting at 5.35 million, or $7 million, for a one-bedroom apartment on the 20th floor. Amenities will include a wellness centre with a swimming pool, gym, a spa with private suites and services like housekeeping, dry cleaning, valet and vehicle washing.

The star attraction of the build is the approximately 3300-square-meter penthouse that will cover five levels and have a private elevator accessing its foyer. The living area will consist of five main bedrooms and three staff bedrooms, a dining room with a 5.7-meter ceiling, a wine cellar, a spa, gym and outdoor infinity swimming pool. Some agents have been suggesting that it will be one of the most opulent and unique properties for sale in Monaco.

The Monaco government has publicly backed the project stating the economic benefits and the many job opportunities that will arise from the development however, local opinion appears split with some quarters labeling the construction the 'Odious Tower' and neighbours in the initial construction phases complaining about the disruption as well as the effect on traffic congestion once built.

According to the Global Property Guide Monaco properties current average price per square meter is 38,774, double that of Britain at 19,100 and France third at 14,696 with this gulf predicted to widen on completion of the Tour Odeon, cementing Monaco's reputation as the luxury property capital of the world.

La Costa Properties Monaco represents the finest Monaco properties throughout the Principality in the neighbouring French Riviera. Whether you are seeking to buy or rent Monaco apartments, offices, villas, penthouses, or other real-estate investments, our website is regularly updated with listings of properties for sale in Monaco that will be of interest to the serious and discerning buyer or tenant.


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