Billionaire Rinat Akhmetov, who is Ukraine's richest man, has purchased a massive five-level luxury apartment in Monaco's most prestigious new residential complex for 471 million euros ($554 million), in what is arguably one of the largest real estate deals in history.
Points of attention
- The purchase underscores the sustained demand for luxury properties in Monaco, where prices per square meter can surpass those in any other country.
- Akhmetov's investment in this opulent apartment represents one of his largest real estate ventures outside of Ukraine, showcasing his penchant for high-end property acquisitions.
What is known about Akhmetov's new purchase?
As journalists managed to find out, it is a 21-room property on the seashore — it was purchased by the businessman's holding company.
The residence is located in the Mareterra area, an exclusive new ecological district in Monaco, created by reclaiming 6 hectares of land from the sea, which increased the principality's territory by 3%.
The media immediately drew attention to the fact that the apartments are part of an ultra-luxury complex that includes private residences, a marina, a park, and commercial premises.
According to anonymous sources, the apartment has several levels, large terraces with sea views, a private pool and access to the exclusive infrastructure of the complex.
The deal highlights the sustained demand for premium real estate in Monaco, one of the most expensive housing markets in the world, where prices per square meter can exceed those of any other country.
It's no secret that Monaco has long attracted billionaires thanks to its low taxes, political stability, and high level of privacy.
For Akhmetov, this purchase became one of the largest real estate investments outside of Ukraine.
