Short of space, Monaco wants to expand into sea
PARIS, July 25 (Reuters) - Running out of living space, the tiny principality of Monaco has decided to enlarge itself by expanding into the sea.
The world's second-smallest state after the Vatican has invited firms to bid to build an artificial peninsula jutting into the Mediterranean from near the Monte Carlo district's landmark casino.
The new land would support residential buildings as well as shops, a school, "an exceptional building capable of housing a large museum", a beach and mooring space for yachts. It should be completed within 10 years.
"The stakes are very high. It is about preparing our principality's future by solving the current shortage of real-estate space and spaces devoted to the public," the country's ruler, Prince Albert, said in the text of a speech delivered last week.
The successful bidder for the 275,000 square metre (3 million square foot) project would have to meet strict environmental standards to limit damage to flora and wildlife.
A government presentation on the project said the site's architecture should be "resolutely contemporary and aesthetically compatible with the existing urban tissue".
The presentation also listed "respecting the organisation of the Formula One Grand Prix" as a requirement for builders.
A shortlist is due to be drawn up at the end of the year.>
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