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Kazakh investors are sponsoring the construction of a district in Monaco for €2 billion?

Submitted by Вера Александрова on

On the YouTube channel MegaBuilds, information has emerged that one of the sponsors of a prestigious district in Monaco is a Kazakhstani investor.

The identity of the investor has not been disclosed. However, given the cost of the project, estimated at several billion euros, a private investor would need to have capital of hundreds of millions, and possibly billions, of euros. 

This means that the mysterious shareholder most likely has not only significant funds but also the necessary reputation that allowed them to become a participant in an international consortium. 

In 2015, Monaco began implementing a project to build the district Mareterra, or "Sea Land", which involves expanding the land territory into the sea. The reason for this decision was the constant shortage of land in the principality. 

The Mareterra district is set to include luxury residential buildings, office spaces, parks, yacht marinas, and even beaches. An important part of the project is the creation of green areas and parks, which should help improve the environmental situation. 

In short, the project focuses on luxury and comfort, which is characteristic of the entire Principality of Monaco. 

According to experts, the economic effect of the project will last for decades, providing the state with stable income and additional resources for further development. 

Construction is expected to be completed in 2025. To date, it is known that the construction of the new district has already cost €2 billion

The price per square metre in a residential building in the elite district has not yet been disclosed. According to some estimates, it reaches €120,000 per sq m

Financing such large-scale projects usually attracts major international developers and institutional investors, such as private equity funds, sovereign wealth funds, or family offices of ultra-high net worth individuals (Ultra High Net Worth Individuals), whose assets exceed $30 million

It is known that the developer of the project was the state-owned company Anse du Portier. In addition, the project was financed by nine investors from European countries and Kazakhstan

One wonders who, back in 2015, in Kazakhstan could have had the necessary funds, reputation and influence to become part of this elite consortium?