New 18-Storey Tower Gets Green Light on Rue Grimaldi
Planning approval granted for 66-metre residential and office tower to replace two small houses between Rue Grimaldi and Boulevard du Larvotto.
A significant vertical development has received planning permission in the heart of Monaco, marking another step in the Principality's ongoing urban evolution. The approved project will see two existing houses at 39-43 Rue Grimaldi demolished to make way for an ambitious 18-storey tower.
The new structure will rise over 66 metres on a compact 847 square metre site, strategically positioned between Rue Grimaldi and Boulevard du Larvotto. The mixed-use development will combine residential apartments with office space, maximising the potential of this valuable urban plot.
This latest approval reflects Monaco's continued commitment to vertical expansion as the only viable solution to address space constraints. With land at an absolute premium, such tower developments represent the Principality's pragmatic approach to meeting growing demand for both residential and commercial property while preserving its compact footprint.