Terrasses du Casino Real Estate Project:
Monaco Prepares a New Transformation of the Carré d'Or

Monaco's real estate market has never stopped reinventing itself, with each generation contributing to the evolution of this constantly expanding territory. The Carré d'Or, the vibrant heart of Monte-Carlo, is about to undergo another major transformation: the Société des Bains de Mer (SBM) is preparing a large-scale real estate development on the Terrasses du Casino, set to redefine one of the Principality's most iconic locations.

Terrasses du Casino: A New Real Estate Development in the Heart of Monaco

On the current site occupied by the Thermes Marins, Edmond de Rothschild Bank, and the adjacent parking facility, SBM is planning a mixed-use real estate development combining ultra-luxury serviced residences with high-end retail boutiques. In terms of its ambition, the project echoes the success of One Monte-Carlo, located in the same district. This new development once again reinforces the Carré d'Or's position as Monaco's leading showcase for luxury real estate.

The project timeline remains subject to a key prerequisite: the relocation of Edmond de Rothschild Bank, expected by the end of 2026. This milestone will determine the actual start of construction, currently planned for 2027, with an estimated building period of four to four and a half years. If this schedule is maintained, the development is expected to be completed between 2031 and 2032.

A Luxury Development by SBM

The project has been entrusted to the architectural firm Herzog & de Meuron, in collaboration with the Monaco-based practice Patrick Raymond. It follows in the footsteps of the landmark developments that have shaped Monaco's contemporary real estate landscape in recent years. A luxury shopping promenade along Avenue de Monte-Carlo is also under consideration on the upper level of the complex, subject to approval from the Department of Public Works.

Below, the Thermes Marins would be completely rebuilt, with the ambition of offering significantly expanded facilities, including a large swimming pool, extensive fitness and wellness areas, and redesigned treatment rooms. This new generation of Thermes Marins would form part of a broader strategy to develop Monaco as a leading wellness tourism destination, helping to maintain hotel occupancy during the traditionally quieter autumn and winter seasons.

Serviced Residences in Monaco's Carré d'Or

Between the planned luxury shopping promenade and the future Thermes Marins, the project includes prestigious serviced residences offering exceptional views over Monaco's harbour. If brought to fruition, this development would further enhance the already limited supply of prime properties in the Carré d'Or, where luxury real estate commands some of the highest values in the Principality.

What Impact Will This Have on Monaco's Real Estate Market?

Although this announcement is still subject to several administrative approvals and a cautious development timeline, it deserves close attention from anyone interested in investing in Monaco real estate. Historically, every major project undertaken by SBM in the Carré d'Or has helped strengthen both the value and the appeal of Monaco's property market in the surrounding area, benefiting existing residences as well as creating new investment opportunities.

It should be noted that, at this stage, the project remains a proposal. The start of construction is still subject to the relocation schedule announced by SBM's management, and the final scope of the development may yet evolve. We will continue to monitor this project closely, as it perfectly illustrates the long-term momentum driving Monaco's real estate market.

As a real estate agency based in Monaco, we remain at your disposal to discuss the impact that projects of this scale may have on the value of prestigious properties in the Carré d'Or and the surrounding districts. Would you like to explore current opportunities in this highly sought-after area or anticipate future market trends and property values? We would be delighted to welcome you to our offices at Château Périgord in Monaco.