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Principality acquires strategic site

Monaco will soon be signing a document to purchase a strategic site in the commune of Éze, which will open opportunities for both the Principality and local residents near the area.

After an expansion to the east, what about the west? Last December, the Monegasque state signed an agreement worth 86 million euros to acquire and transform the Port de Plaisance of Vintimille. Within a few weeks, the Principality will this time be able to sign an agreement of sale to become the owner of the land at la Brasca, in the municipality of Éze. The 12th of January last year, the Municipal Council of the commune had given their initial agreement to cede the land located below the exit of the A 500 motorway tunnel. This means nearly 200,000 square meters leased by the Automobile Club of Monaco to stock their logistical equipment for the Grand Prix and Rallies.

Strategic Site

After nearly four years of negotiations, the Monegasque state is set to acquire this land and its underground area. The total amount of the transaction is 20 million euro, a significant amount demonstrating the importance of this piece of land. Not only is it strategically placed near the motorway, but it is also close to the Moyenne Corniche road, which could allow for development of building projects and facilities. Contacted on this subject, the government recently announced that “there is not, at this stage, any specific project planned.”

At the other end of the sale agreement signing are the benefits for the commune of Èze. “This represents more than 100 years of rental payments,” explained the Mayor, Stéphane Cherki, during a public meeting, where he said this presents opportunities “for the future of the commune and future generations here.” With this unexpected sum, the commune of Èze should be able to completely reduce its debt. It will be able to construct public facilities such as a new reception hall, a school in Èze by the coast, and an underground car park.

In the upcoming completion of the transaction, this purchase of the strategic site will allow both for Monaco to expand and imagine new projects and for the local community in Èze to develop useful new facilities.

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