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Day: 23 June 2020

Monaco continues to intrigue and captivate

by: Cassandra Tanti
23/06/2020

The television series ‘Inside Monaco: Playground of the Rich’ has been a ratings hit for BBC Two, attracting more than 4.2 million viewers on Monday night alone – the highest rating series of the week for the British channel.
Episode three on Monday night took viewers on a real estate tour of the Principality, including a rare look at the extraordinary Villa Trogodyte carved out of rock which has just hit the market for €25 million.
The producers also showcased Monaco’s new land extension project and interviewed Prince Albert about why this section of the Principality was chosen to host the €2 billion development.
Unsurprisingly, the Daily Mail picked up and ran with a comment by director of public works in Monaco Jean Luc Nguyen that the largest sea view villas on the extension will only be within reach of “10 buyers in the entire world” at an estimated €100 million for one of the properties.
Amid the usual negativity that comes with social media, there was also praise for Prince Albert and his commitment to Monaco, a country declared by some on Twitter to be a “utopia”. Others had issue with the fact the Red Cross Gala “only” raised €500,000 for charity.


Monday’s episode was the final in the three-part series ‘Inside Monaco: Playground of the Rich’, which managed to not only get the backing of the Prince, but also feature some of the Principality’s most well-known personalities.
With 4,275,575 viewers, it was easily placed at the top of the ratings list for BBC Two, indicating that people are still captivated and intrigued by the legendary Principality of Monaco.
 
Related stories:

New BBC series gives rare glimpse into life in Monaco

 
 

ASM “deeply affected” by death of worker

by: Stephanie Horsman
23/06/2020

An accident at the AS Monaco training centre in La Turbie on Monday has resulted in the death of a construction worker, prompting widespread condolence from the football community.
The victim, who had been working to shore up a cliff face, was struck by a rock that broke free from the cliff and struck him as it fell. Another person present at the scene has been hospitalised for shock.
“AS Monaco has the pain of announcing that an accident has occurred at the La Turbie training centre site on Monday at around 2pm, causing the death of a person working for a construction company,” the club said in a statement.
AS Monaco has not provided further details on the victim, however L’Equipe reports that it was a man aged in his 50’s who was using a mechanical digger on the site. The incident occurred in an area that is not readily accessible by the public, players or staff.
The training centre is undergoing a major transformation with the enlargement of two sections. The €55 million project will see a new seven story building erected on one end, and an additional training ground at the opposite end of the centre. It was on this future new training ground that the accident occurred as the workers were embedding safety nets into the rock face of the mountain.
The gendarmerie were called to the scene to launch a formal investigation, as it would in any industrial accident, and the prosecutor’s office in Nice was alerted.
The club expressed its condolences following the accident, saying: “Deeply affected, AS Monaco wishes to give its full support to the family of the victim.”
Players including Cesc Fabregas took to social media to express their sadness and several other Ligue 1 teams reached out to Monaco on Twitter to send condolences and thoughts for the victim’s family.
 


 
No training sessions had been planned this week but there were players present who were being tested for Covid-19 after having contact with a person outside the club who had contracted the virus.
 
 

Photos: Landmark Benetti superyacht hits the charter market

by: Cassandra Tanti
23/06/2020

Italian shipyard Benetti has delivered its first-ever 100+ metre superyacht, ‘Lana’, and she could be all yours to charter for a cool €2 million a week.
Monaco-based Imperial proudly announced the delivery of Lana on Tuesday and is launching the 107-metre superyacht exclusively for chartered journeys around the Mediterranean this summer and beyond.
Lana is undeniably eye-catching. Entirely designed by the Benetti in-house design teams and PierLuigi Ausonio Naval Architecture, her bold and elegant lines are distinctly balanced with her interior, which is of a soft colour pallet to create a sense of tranquility throughout the decks.

Foyer rendering

She can sleep up to 12 guests and is also capable of carrying up to 34 crew on board to ensure a relaxed and luxury experience at sea.
“Being linked to one of the first 100m+ superyacht ever delivered in Italy is a pride we share with Benetti,” said Imperial Director Julia Stewart. “Lana is bold, unique, sleek and aggressive, boasting high ceilings up to 2.7m height and mixing perfect experience at sea and unforgettable charter moments.”
Sun deck dining rendering

Lana’s top features include a luxurious spa with treatment rooms and hammam, gym, a generously proportioned heated pool located on the sun deck, a cinema room, and all the state-of-the-art toys one needs for adventures at sea.
Hammam rendering

Sun deck pool rendering

“Lana is an example of excellence: outstanding quality, unique style, and an icon of Made in Italy,” added Paolo Vitelli, Benetti’s President.
Lana has a listed charter rate from €1,700,000 per week (excluding VAT and APA).
 
Photos: Copyright Imperial and Benetti
 
 
 

Tuesday screenings are underway

by: Cassandra Tanti
23/06/2020

The government has begun phase three of its free Covid screening campaign at the Espace Léo Ferré, welcoming all those who missed out during the first two rounds of testing.
The new Tuesday screenings kicked off this week under the watchful eye of Health Minister Didier Gamerdinger and Health Department General Secretary Ludmilla Raconnat Le Goff.
Residents of Monaco, school students and employees who missed out on the opportunity to be tested during the first month of the campaign are welcome to visit the Espace Léo Ferré every Tuesday for the next month, from 8am to 6pm. The wearing of a mask is obligatory.
Future testing will be available on 30th June, 7th July and 14th July.
Meanwhile, Monaco recorded its second consecutive positive case of Covid-19 on Monday 22nd June, bringing the total number of confirmed cases in the Principality to 101. Tennis star and Monaco resident Grigor Dimitrov tested positive on Sunday and is under the care of the Home Patient Monitoring Centre.
The government confirmed on Monday that all other patients are fully recovered and that no one is currently being treated in hospital.
 
Related stories:

Tennis star at centre of tournament Covid outbreak

Almost a third of Monaco employees tested for Covid
2.7% test positive for Covid-19
 
 
 
 

Disappointing – but unsurprising – first quarter of 2020

by: Stephanie Horsman
23/06/2020

The latest statistics show that the overall economic performance across Monaco was down significantly in the first quarter of this year as the Principality grappled with the effects of the Covid-19 crisis. The only sectors to buck the trend were finance, real estate and construction.

IMSEE, the company used by the government to track statistics in the Principality, has released its trimestral report on the economy and this edition holds few big surprises.

Due to the Covid epidemic, the entire globe has faced not only a health crisis but also an economic one. Even Monaco has suffered some setbacks in this first trimester, with only the finance and real estate/construction sectors holding their own in these extraordinary times.

The writing was on the wall as far back as February, though things accelerated with the lockdown that began on 16th March. When the crisis struck, it should be noted that the economy had been humming along at quite a good clip for the two previous years. It should also be noted that the statistics presented by IMSEE are comparisons for the same trimester in 2019, and not every indicator was downturned, though most were.

Foreign trade considers all trade done with every country except for France. The figures are what one would expect, with a massive 50.8% drop in the volume of imports and a 40.9% decrease in exports. Turnover was less disappointing, with a tiny 2.6% fall, but the hit to this aspect will become clear in the second trimester, when lockdown was in full swing.

The biggest downturns were seen in accommodation and food service, transportation and industry. Real estate and construction grew in this time period, though with modest gains. Meanwhile, resales during this time frame were up 13.5% over 2019, despite sales of new flats being down by two-thirds.  

The banking sector made it relatively unscathed as well in the first quarter. Deposits were up by 5.4% and the number of loans wass also up by 8.2%. There was a small dip in assets over the past year, -1.3%, but that is not a huge concern, according to IMSEE. 

Ending 31st March 2020, the number of private sector jobs in Monaco numbered 53,454, a 3% decrease on the year before. Hotels and restaurants were the most affected with a 10% drop in employees. Total working hours fell by 5%, though those who telecommuted or were on CTTR during this period are not taken into account.

This could have been much more severe, but the government acted quickly at the start of the crisis and passed a law disallowing employers to perform “unfair dismissals” whilst the epidemic had the world at a standstill.

Company creation was down as well, with -31.3% new businesses created compared to last year. There were 123 definitive closures this trimester as opposed to 148 in 2019, but the balance is still positive with 37 more openings than closures.  

People were buying fewer cars, and the number of new car registrations was down by 11.7%. Equally, public parking facilities were used less, showing a 13.4% drop in usage. 

 
 

Back to a St Tropez summer

by: Isabella Marino
23/06/2020

Just a few weeks ago, a weekend trip in St Tropez felt so far away. I was dreaming about tanning on the beach, enjoying a nice lunch at the beach club with a glass of rosé, and dressing up for dinner at one of the glamorous restaurants in town.
We were all on lockdown at home, and I am sure I was not the only one realising how often I underrated these moments in life and promised myself that from now on, I will be more grateful!
Summer arrived, and here I am again, sitting on the terrace of the historical café Le Sénéquier, eating the traditional Tarte Tropézienne and drinking a Café Granité. I could sit here for hours watching people and enjoying the view over the port and the yachts. I escaped to St Tropez for the weekend, curious to see how restaurants and boutiques are coping in trying to keep clients and staff safe, preventing the transmission of the Covid-19 virus.

Plage de l’Escalet, Ramatuelle

Summer holidays will be different for most this year, meaning that many of us will plan our trips differently. As a real estate professional, I have seen a high demand in rentals of big villas and a high percentage of these clients are Monegasque residents. Many families might opt for quality time spent in a prestige villa, with a swimming pool and surrounded by nature, rather than sleeping in hotels or flying abroad to one of the Greek or Spanish islands.
My favorite transportation to get around St Tropez, respecting the environment – E.MOKE, the electric Mini Moke

I personally have a positive feeling for this summer season in St Tropez, that will attract high-end tourism and European families
Hotels were still closed when I was visiting but opening again by the end of June. Byblos for example, is officially opening on June 18th.
All boutiques were open but at the entrance of each store, a mask and gel were available and obligatory. While strolling around I paid a visit to the Parisian brand L.D.B.. I like this brand because they use organic garments such as soy fibre and yarn from eucalyptus wood. The apparel is comfortable and the price is very accessible. I actually bought myself a boho-chic outfit, very Tropezienne style!
L.D.B. design by… 70 rue Gambetta

I must admit, I was positively impressed by the improvements made in the restaurants and the efforts of owners, considering the difficulties they have been through due to Covid-19. In all the restaurants I dined, the menus had changed and the quality had improved significantly, and I was happy to feel the positive vibes around. Waiters in restaurants were all wearing masks but guests were not obliged to wear one.
Menus are mostly digital, to be read directly from the phone.
The beach clubs in St Tropez here are my favourite part of the day. The legendary Club 55 and the trendy Verde Beach are on my top list favourites.
Verde beach by Yeels, 1149 Route de l’Épi, Ramatuelle

Verde beach by Yeels

Club 55, 43 Boulevard Patch, Ramatuelle

On 11th June, ​The Strand​ opened their doors, welcomed by the legend DJ Jack.E. This restaurant is one of the oldest restaurants in town, originally called Palmyre.
Isabella with DJ Jack.E at The Strand

DJ Jack.E – resident DJ of Les Caves du Roy and part owner of The Strand – told me the secret behind the romantic and mysterious atmosphere of the place: back in the days it was a so-called “bordel” …!
My review: delicious meat, warm and romantic atmosphere.
 The Strand

Salama, 1 Chemin des Conquettes

Dessert at The Strand