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Day: 21 July 2023

Why is Beausoleil’s mayor blocking new real estate projects?

by: Stephanie Horsman
21/07/2023
beausoleil real estate

Mayor Gérard Spinelli has refused two building permits for housing development projects in the heights of Beausoleil. Here’s why… 

In the heights of Beausoleil, near the Route des Serres and the Chemin des Rainettes, plans for a big housing project were being cooked up by local developers. The scheme, according to Monaco Matin, was to build 296 dwellings on 1.5 hectares of land in a part of town that currently houses more olive and fruit trees than people.  

Outcries from the local community regarding environmental damage and a lack of infrastructure in place as well as concerns over traffic and loss of tranquillity were vocally made, but Mayor Gérard Spinelli initially remained quiet.  

MAYOR TAKES A STAND 

Now, according to a report from Monaco Matin, Mayor Spinelli has made his thoughts clear, officially refusing to sign off on the two building permits required to realise the project.  

The developers, Ogic and Munegu Real Estate, had at first been granted permission by the municipality in February 2021 for 109 housing units, which has not been contested. It was two further permits for 187 units that came under fire and have now subsequently been blocked, according to the local press.  

“These are points of non-compliance with the PLU (Local Urban Planning rules) linked to the location in relation to the road network, the height rules, the consideration of the presence of the Vallon de la Rousse located near the project [and] also to public domain,” explained Spinelli to the paper. 

Beausoleil’s Director General of Services, Jean-Luc Dalcher, delved a bit further into the complexity of the situation, stating, “We cannot build on the public domain, except with the prior agreement of the community, and such agreement has not been requested or obtained.”  

RESIDENTS REACTIONS 

The residents who opposed the project are reportedly ecstatic.  

“It is with a certain jubilation and relief that we welcomed the news from the mayor himself on the refusal of a building permit,” the collective of the Route des Serres, the organisation who bucked against the project, told Monaco Matin. “This is a victory for ecological balance and rationality. We thank all the stakeholders mobilised, their insights and arguments, in having participated in this decision.” 

As for the mayor, he stated he will not be drawn into a debate and that his focus is, and has been, for the betterment of the town.  

 

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Photo source: Ville de Beausoleil

Formula 1: Scuderia Ferrari the most valuable team at almost $4 billion

by: Luke Entwistle
21/07/2023
Ferrari Forbes billion

Scuderia Ferrari may be languishing in the midfield on track, but the Italian manufacturer leads the way in terms of valuation, according to Forbes. 

After bouts of revival last summer, Ferrari’s 2023 challenger is yet to live up to expectations, with Charles Leclerc and Carlos Sainz struggling to reclaim ground from the frontrunners. The manufacturer are currently fourth in the Formula 1 constructors standings, behind Aston Martin, Mercedes and Red Bull. The latter has a mammoth 254-point lead over the Italian team.

However, the team continues to enjoy great financial success off the track. Based on 2023 revenue estimates, Forbes have ranked Ferrari as the most valuable team on the grid. The team, led by Team Principal Frédéric Vasseur, is valued at $3.9 billion or €3.5 billion, a 189% jump from 2019.

Ferrari Team Principal Frédéric Vasseur. Photo source: Scuderia Ferrari Media Centre

However, Mercedes is hot on Ferrari’s tail. The Toto Wolff-led team had fallen back in the last two seasons, following years of dominance, but is now valued at $3.8 billion, a 274% jump.

Values explode across the grid

The increases in value experienced at Ferrari and Mercedes aren’t isolated cases.

All teams have witnessed stratospheric growth in recent years. According to Forbes’ report, the average valuation across all of Formula 1’s 10 teams is $1.88 billion, a 276% increase from the $500 million average when the publication last valued the teams back in 20219.

The introduction of a cost cap is a large factor in this financial growth felt by the entire grid, as is the increase in popularity of the sport. The arrival of Liberty Media in 2017 signalled a change in strategy. The product has significantly changed. The Netflix series ‘Drive to Survive’ has brought in new audiences, as has the increased focus on the American market. This season, there will be three races in the United States, including the inaugural Las Vegas Grand Prix.

There are no signs of Formula 1’s exponential growth slowing in the coming years, and with the expanding calendar and more lucrative sponsorship deals in the pipeline, representing the new realities of the sport, team values are destined to increase further. Mercedes and Red Bull will certainly be aiming to knock Ferrari, Formula 1’s most iconic brand, off its perch in the coming months and years.

Formula 1 team valuations in full:

1. Ferrari – $3.89 billion

2. Mercedes – $3.8 billion

3. Red Bull – $2.6 billion

4. McLaren – $2.2 billion

5. Alpine – $1.4 billion

6. Aston Martin – $1.375 billion

7. Alpha Tauri – $1.125 billion

8. Alfa Romeo – $900 million

9. Haas – $780 million

10. Williams – $725 million

 

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Photo source: Scuderia Ferrari Media Centre

Monaco to safeguard homes against gas leaks, mandates carbon monoxide detectors

by: Cassandra Tanti
21/07/2023

Homes connected to gas in Monaco must now be fitted with carbon monoxide detectors, by order of a new law which comes into force this weekend.

According to a statement released by the government on Friday 21st July, the law will take effect on 22nd July 2023, by Ministerial order 2023-416, which lays down regulations relating to the general principles of safety against the risk of fire and panic in buildings.

This new law requires that detection devices be installed in homes that are connected to a gas service. The devices must be able to broadcast an audible alarm that can warn the occupants of an abnormal rise in the level of carbon monoxide. Often, the alarm is supplemented by an alert on either a smartphone or tablet. They are available for as little as €30 from services like Amazon.

“This measure aims to allow early detection of this toxic, odourless and colourless gas that can cause serious poisoning,” said the government.

In order to be effective, detectors must be placed in the same room as the source of gas, at a distance of one to three metres from the fuel-burning appliance. It can be fixed on the wall or on the ceiling.

In general, the manufacturer’s recommendations for installation and use should be followed and if in doubt, the services of a professional are recommended.

“Simple gestures contribute to reducing the risks, such as the daily ventilation of the accommodation, and good annual maintenance of boilers, heaters and equipment connected to the combustible gas distribution network,” said the government.

Signs of carbon monoxide poising include a feeling of faintness, muscle weakness, anxiety and impaired vision.

Anyone who suspects they may be exposed to carbon monoxide should ventilate and exit the home, and call 112 or 18.

For more information, visit the factsheet by clicking here.

 

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Photo source: Pixabay

 

 

Antiquorum to host major watch auction at Yacht Club de Monaco

by: Stephanie Horsman
21/07/2023
antiquorum yacht club monaco

Everything you need to know about the highly-anticipated Antiquorum horological auction this coming Tuesday at the Yacht Club de Monaco.  

On the back of a pre-sale presentation earlier this month at the Meridien Beach Plaza, the waterfront Yacht Club de Monaco (YCM) will be the scene of a major sale being staged by auction house Antiquorum on Tuesday 25th July.  

The event will bring together 232 “rare and exceptional” watches, many of which are considered collector’s items. 

SPECIAL EDITION

Amongst the rollcall of top-end items going under the gavel is a Rolex John Player Special Edition Daytona watch in 18k yellow gold with a “Paul Newman” dial, riveted links and a folding clasp. It dates from 1968.  

This model of watch was primarily made from stainless steel, but about 300 of the 14,000 created were crafted in gold, making them particularly rare and coveted. The John Player Special, a subset of the Daytona line, was named after the cigar brand, whose colours were later adopted by the Lotus Formula 1 team.   

The organisers estimate the sale price of this richly elegant watch to be between €500,000 and €800,000.  

Rolex John Player Special Edition Daytona watch in 18k yellow gold with a “Paul Newman” dial. Photo supplied by Antiquorum

CRASH 

Another standout is a 1991 Cartier “Crash” watch, unique for its Dali-esque shape and intriguing backstories.  

This model was launched at Cartier’s Bond Street shop in the midst of the Swinging Sixties scene in London. One legend has it that the Crash came about following a car accident and subsequent fire, which left a Baignoire Elongée transformed into a piece of surrealist art in the vein of Dali’s The Persistence of Memory.  

Another tale says that Cartier’s founder was looking for something utterly new and reshaped a traditional oval design by pinching it in the middle, thus creating the shape.  

Whatever the real story, the watch is a modern classic and this version has an estimated value of €150,000 to €200,000.  

PAUL NEWMAN DAYTONA 

For something reaching mythical status, there is also a Rolex/Tiffany & Co. Paul Newman Daytona up for grabs. This stainless-steel beauty has a gorgeous dial and is signed by the world-renowned jewellery firm.  

This 1968 model has a three-colour dial of white, black and red with the Paul Newman face, so-called because of the late actor’s penchant for this particular look. The partnership between Rolex and Tiffany ended in the 1990s, but the beautiful piece they inspired lives on.  

For a cool €300,000 to €500,000, this watch will find its new home.  

The Antiquorum auction will start at 5pm sharp on Tuesday 25th July, so be there on time so as not to miss a single thing!  

 

 

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Photos supplied by Antiquorum

Football: AS Monaco joins the digital revolution

by: Luke Entwistle
21/07/2023
AS Monaco CEO Ben Lambrecht with Frédéric Genta

AS Monaco are joining the digital revolution within the Principality through their inscription to the Extended Monaco scheme, piloted by the government. 

Since 2019, Monaco has been undergoing a revolution. The Interministerial Delegation in charge of the Digital Transition (DITN), through the Extended Monaco scheme, have brought the Principality into the 21st century, moving many facets of life into the digital sphere. The move is as practical as it is economical and eco-friendly.

The emblematic Monégasques are now joining the efforts, and through their collaboration with the DITN, hoping to encourage supporters of the Principality’s football club to use the digital tools.

A revolutionised ticket office

AS Monaco’s ticketing office will soon be integrated into the MONAPASS application, whilst fans already have the option of opting for a 100% digital season ticket for the upcoming 2023/24 season.

The club will launch further initiatives. ‘Attractivity Challenges,’ a competition open to young businesses developing applications in the sport domain will be launched. Club news will now also be diffused in the ‘Your Monaco’ app, which relays practical information around the Principality. Finally, the DITN will make the self-service ticket machines available in order to promote home matches and numerous activities involving the Principality club.

The mutually beneficial collaboration will further the government’s goal to go digital, whilst also simplifying and modernising the club’s ticketing process, hopefully to the benefit of attendances at the Stade Louis II.

 

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Photo credit: Manuel Vitali / Direction de la Communication