Monaco built a new $2.3bn district in the sea and F1 star Max Verstappen moved in

The glitz and glamour of Monaco have proved a strong pull for many F1 stars over the years, with some of the biggest names in the sport, past and present, having opted to live in the principality.

Red Bull star Max Verstappen is among the stars to call the streets he races around once a year home, and at this year's event, he even pointed out the exact development where he lives to fellow F1 stars Kimi Antonelli, Sergio Perez and Isack Hadjar.

As it turns out, Verstappen has an apartment situated in Mareterra - a newly created $2.3 billion district in Monaco built directly on the sea.

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Welcome to Mareterra

Mareterra is Monaco's newest neighbourhood, getting around the fact that there is little land for development in the principality by expanding into the Mediterranean.

The development has increased the size of Monaco by 3 per cent, with the development containing luxury apartments, penthouses, waterfront villas and townhouses, as well as shops, restaurants, public spaces and a new marina.

Commissioned by Prince Albert II and the Government of Monaco in 2013, construction on Mareterra eventually got underway in 2017 after preparatory work on the seabed the year prior, with the project officially being completed in 2024.

The development's architects were Renzo Piano Building Workshop and Valode & Pistre, with landscape design by Michel Desvigne.

“I wanted this new area to embody the excellence and conviviality which distinguish the Principality of Monaco so well. Mareterra will integrate perfectly with our shoreline, and in a few years will be seen as a natural extension of our territory," Prince Albert II said of Mareterra.

How much did it cost to build, and how much are properties worth?

Official costs of the Mareterra development have not been confirmed, but reports from multiple outlets, such as Forbes, estimate that the development cost a staggering $2.3 billion.

While that is a huge sum, the exact same can be said for the prices of property in the development.

According to current listings via Chambre Immobiliere Monegasque, the cheapest apartment you can currently get your hands on would set you back $75.3 million.

For that money, you're getting three bedrooms, four bathrooms, and a total area of 532 square metres in the La Renzo apartment building. Another three-bedroom property in the development is also listed at $89 million.

Another sale blows those prices out of the water, though. The most expensive property that we know about was sold to Ukrainian billionaire Rinat Akhmetov earlier this year, with his purchase having been reported to stand at $546 million.

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Which F1 drivers live in Monaco?

Of course, while Verstappen is apparently a resident in the Mareterra district, he has a lot of his F1 colleagues as nearby neighbours in the principality.

13 of the current 22 full-time drivers on the F1 grid are believed to be residents of Monaco, including Lewis Hamilton, Lando Norris and Charles Leclerc.

You can find the full residencies of all of the current F1 grid below.

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Written by

Simmey Hannifin Donaldson - F1 Editor

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