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Monday, May 19, 2025

Prince Albert II Discusses Monaco's Future and Key Projects in Local Media Interview

Prince Albert II Discusses Monaco's Future and Key Projects in Local Media Interview

The Prince addresses critical issues including the FATF gray list exit, urban development, and national housing plans during interviews with six local media outlets.
On May 12, Prince Albert II of Monaco participated in interviews with six local media outlets discussing significant challenges and future developments for the Principality.

Key topics included Monaco's ongoing efforts to exit the Financial Action Task Force (FATF) gray list, large-scale real estate projects, the renovation of the Fontvieille shopping center, a national housing plan for Monégasques, and the upcoming appointment of a new Minister of State.

Since being placed on the FATF gray list in June 2024, Monaco's economic repercussions and attractiveness have been closely monitored.

Prince Albert acknowledged the initial concerns were valid but stated that the current impact has been relatively limited.

He emphasized that the fundamentals of Monaco's economy, including finance, real estate, and tourism, remain stable.

Positive interim reports suggest that progress is being made towards the goal of exiting the gray list by June 2026.

The Annonciade II real estate project, under study since 2009, has met delays that have led to frustrations among officials, including National Council President Thomas Brezzo.

The project is poised to undergo a significant restructuring following the relocation of the Charles III College.

Prince Albert indicated that the project is substantial, covering nearly 100,000 square meters of usable space, and a detailed proposal is expected within two to three months.

Regarding the Fontvieille shopping center renovation, plans are advancing, although complexities remain.

Prince Albert mentioned that input from various stakeholders is being integrated to finalize the project, which emphasizes not just commercial spaces but also leisure and dining areas.

A preliminary internal presentation is anticipated before summer.

A new national housing plan for Monégasques is set to launch this spring, revising the previous plan implemented in 2019 that had already yielded numerous housing units.

The updated initiative aims to address future population needs, with new properties announced and efforts to streamline the process for accessing public housing.

Prince Albert also discussed French President Emmanuel Macron’s upcoming state visit in early June, describing the strong bilateral relations and noting that no specific agenda items are prioritized.

The visit is intended to celebrate the alliance and will likely encompass discussions on mutual interests, including Monaco's expected exit from the FATF gray list and various global challenges.

The search for a new Minister of State is progressing, with Prince Albert stating that several candidates have been interviewed.

The announcement could be made prior to President Macron's visit.

With the Monaco Grand Prix approaching, the continuation of this iconic event has been assured through a new agreement with Liberty Media, extending the contract until at least 2031. Discussions focused on logistical improvements rather than financial terms, highlighting the sponsors' and guests' evolving needs.

On July 19, marking his 20th year of reign, Prince Albert expressed anticipation for a celebratory gathering with Monégasques, emphasizing the importance of community connection available through events of this nature.

Reflecting on his reign, he highlighted accomplishments in modernization, sustainability, and overall enhancement of Monaco's attractiveness.

Additionally, a public engagement by Princess Charlène included discussions on the priorities of her foundation, particularly in promoting water safety and first aid training, showcasing community involvement through educational initiatives.

The foundation's projects align with broader educational goals in sports and safety awareness within the Principality.
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