Monaco has long been a magnet for Formula 1 royalty, drawing some of the sport’s biggest names to its sun-soaked streets and luxury lifestyle.
Red Bull star Max Verstappen is among those who have chosen to base themselves in the principality, racing around the same roads he calls home once a year at the Monaco Grand Prix.
Verstappen recently pointed out his exact residence to fellow F1 drivers Kimi Antonelli, Sergio Perez and Isack Hadjar, revealing he lives in the Mareterra district.
Mareterra is Monaco’s newest neighbourhood, a remarkable feat of engineering built directly on the Mediterranean Sea to overcome the principality’s severe lack of available land.
The development expanded Monaco’s total landmass by three per cent and includes luxury apartments, penthouses, waterfront villas, townhouses, shops, restaurants, public spaces and a new marina.
Commissioned by Prince Albert II and the Government of Monaco in 2013, construction officially began in 2017 following preparatory seabed work in 2016, with the project completing in 2024.
The architects behind Mareterra were Renzo Piano Building Workshop and Valode and Pistre, with landscape design handled by Michel Desvigne.
Prince Albert II spoke enthusiastically about the project, stating: “I wanted this new area to embody the excellence and conviviality which distinguish the Principality of Monaco so well.”
He added: “Mareterra will integrate perfectly with our shoreline, and in a few years will be seen as a natural extension of our territory.”
While official costs have not been confirmed, estimates reported by outlets including Forbes place the total development cost at a staggering $2.3 billion.
Property prices within Mareterra are equally eye-watering, with the cheapest available apartment currently listed at $75.3 million via Chambre Immobiliere Monegasque.
That entry-level apartment in the La Renzo building offers three bedrooms, four bathrooms and a total area of 532 square metres for prospective buyers.
Another three-bedroom property in the development carries a listing price of $89 million, further illustrating just how exclusive the neighbourhood really is.
The most significant sale on record belongs to Ukrainian billionaire Rinat Akhmetov, whose purchase in the development was reported to stand at an extraordinary $546 million.
Verstappen is far from alone among F1 drivers in choosing Monaco as his base, with 13 of the current 22 full-time grid members believed to be residents of the principality.
Lewis Hamilton, Lando Norris and Charles Leclerc are among the many high-profile drivers sharing the same postcode as the four-time world champion.