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Day: 26 December 2024

LVMH expands events and property portfolio with acquisition of historic Cannes villa

by: Niki Borisova
26/12/2024

LVMH, the French luxury conglomerate headed by Bernard Arnault, has completed its latest major acquisition, but instead of an exclusive fashion brand or jewellery marque, the multinational company has purchased a €46.5 million villa in Cannes. The stunning property is set to become a hub for high-end events and experiential branding.

French luxury conglomerate LVMH has acquired Villa Bagatelle, a historic Art Deco property in Cannes, for approximately €46.5 million, according to Bloomberg. The sale is believed to have been finalised in April and was reportedly brokered by Magrey & Sons.

Built in 1928, the villa boasts 12 bedrooms, three swimming pools—two outdoor and one indoor—and expansive terraced gardens overlooking the Mediterranean. LVMH, which owns brands such as Louis Vuitton, Christian Dior, and Moët & Chandon, is expected to use Villa Bagatelle to host exclusive events during Cannes’ flagship festivals, from Cannes Lions to the world-famous Film Festival. The villa will also be rented out during the summer months, when the French Riviera becomes a magnet for affluent tourists.

Cannes, located around an hour from Monaco, is a prime location for high-profile marketing opportunities, given its reputation for hosting large-scale, sophisticated events. The city and its glamorous neighbourhoods, such as La Californie and Super Cannes, are also home to an incredible mix of modern and Belle-Époque properties, making Cannes a key destination for high-end real estate.

LVMH’s acquisition reflects a growing trend among luxury and fashion companies of investing in real estate for experiential marketing. In 2023, LVMH spent €2.45 billion globally on real estate acquisitions, primarily for retail spaces, but also including premium residential and hospitality properties.

The move aligns with LVMH’s broader push into entertainment, announced earlier this year, which aims to enhance brand visibility through premium film, television, and audio productions.

Read related:

Palatial Cannes property hits the market for €120 million

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.

 

Photo source: Magrey & Sons

New mandatory brush clearing rules for properties exposed to fire risk

by: Stephanie Horsman
26/12/2024

Starting in January, property owners in wildfire-prone areas must inform buyers and tenants about their legal obligations to clear brush. This rule strengthens fire prevention by raising awareness of safety measures.

Brush clearing – removing vegetation such as branches and leaves around properties, roads, and infrastructure – is a proven method to prevent the spread of wildfires, especially in the hot, dry summer months. Statistics reveal that 90% of homes destroyed during forest fires were located on properties with inadequate or non-existent brush clearance.

Under a new decree established by an Order in Council published on 2nd May in the Official Journal, provisions from a law enacted in July of 2023 which focuses on mitigating the escalating risks of brush fires are further enforced. This legislation refines the procedure for preparing fire risk reports and mandates that property sellers provide detailed information to potential buyers or rental tenants regarding statutory clearing obligations. 

Sellers and landlords in areas subject to these obligations must disclose the information when the property is first advertised. The details must also be included in the risk and pollution statement. 

ALERTED ON FIRST VISITS

For tenants, the brush-clearing obligation must be disclosed during the first property visit and be part of the lease agreement, whilst for buyers, this information must be provided during the initial visit and attached to the promise of sale, deed of sale, or preliminary contract in cases of properties under construction.

The rule applies to properties located within or up to 200 metres from forests, heathlands, or scrublands classified as fire-risk areas. Even if the property is not situated in a designated clearing zone, it is highly recommended to clear brush if your land borders wooded areas to minimize fire hazards.

For further guidance on obligations, contact the local city council or the prefecture, or alternatively, click here.

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

Photo credit: Ross Stone on Unsplash

 

75 years of Monaco’s UNESCO engagement commemorated in new book

by: Niki Borisova
26/12/2024

2024 marked 75 years of Monaco’s engagement with UNESCO, the United Nations agency that promotes peace and development through international education, science, culture, and communication projects. After a year of events and celebrations, the Principality recently co-published a commemorative book paying tribute to the achievements and landmark moments of the past three-quarters of a century.

On 11th December, Monaco’s Permanent Delegate to UNESCO, Anne-Marie Boisbouvier, hosted a reception at her official residence to conclude the Principality’s year-long celebrations of its 75th anniversary as a member and supporter of UNESCO. The event also served as the platform for the presentation of a new commemorative book that honours Monaco’s historic milestones and cultural achievements over the past 75 years.

The publication, a collaborative effort between Monaco and UNESCO, was published by La Martinière. Following its initial unveiling to Prince Albert II of Monaco in November, it has now been made available to the public.

During the December showcase, Boisbouvier expressed gratitude to UNESCO’s Archives Service for their contributions and acknowledged photographer Cyril Bailleul, whose work enriches the book, and artist Damien Mac Donald, who provided its educational illustrations.

The event also featured remarks from the book’s authors, Jean-Philippe Vinci, Director of Monaco’s National Education, Youth, and Sports Department, and historian Stéphane Lamotte. The project was overseen by Princess Caroline of Hanover, who presided over the editorial committee.

The reception brought together more than 70 attendees, including high-ranking Monaco officials and UNESCO representatives.

Monaco and UNESCO: a 75-year relationship

Monaco officially joined UNESCO on 6th July 1949 after signing the organisation’s accession convention.

Throughout 2024, Monaco’s Permanent Delegation to UNESCO organised a series of events both within the Principality and beyond, focusing on UNESCO’s core themes of education, culture, and science.

Read related:

Prince Albert II celebrates Monaco’s 75 years of UNESCO membership

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok.

 

Anne-Marie Boisbouvier is pictured centre

Photo credit: Cyril Bailleul

Em Sherif’s Yasmina Hayek wins MENA’s 2025 Best Female Chef Award

by: Stephanie Horsman
26/12/2024

Yasmina Hayek, Executive Chef of the acclaimed Lebanese restaurant group Em Sherif, has been named the Middle East & North Africa’s (MENA) Best Female Chef 2025. Hayek, who runs the local branch of Em Sherif at the Hôtel de Paris Monte-Carlo, will receive the award at a ceremony in Abu Dhabi on 28th January.

Yasmina Hayek, the daughter of Mireille Hayek, who founded the global sensation Em Sherif, grew up in a household where cooking was revered as an art form.

She went on to graduate from the prestigious Institut Paul Bocuse in Lyon before honing her culinary skills under renowned chefs across Europe. Since taking the reins at Em Sherif, she has overseen its expansion to 24 locations across the Middle East and Europe, including the adored Monaco branch at the Hôtel de Paris, as well as other popular locations in the UK, Qatar, Egypt and the UAE.

Diners at Em Sherif’s Monaco address can expect a Lebanese-Mediterranean menu that features fresh and tasty starter dishes like fattoush, a traditional Lebanese salad with radish, cucumber, tomatoes, croutons, and pomegranate molasses, and adas, a warming lentil soup with coriander and pomegranate molasses. Main courses include a scrumptious lobster moghrabiyeh with semolina in a tomato-basil bisque and riz sharki, a lamb shoulder served with rice and grilled nuts. Those with a sweet tooth can enjoy desserts like classic baklava or Em Ali, a raisin, pistachio, and almond feuilleté infused with vanilla.

William Drew, Director of Content for MENA’s 50 Best Restaurants, has praised Hayek’s achievements, saying, “Yasmina Hayek’s leadership at Em Sherif is a beacon of Lebanese hospitality. Her dedication to refined dining has inspired chefs and captivated diners globally. We are proud to honour her achievements this January in Abu Dhabi.”

Reflecting on the award, Hayek said, “I am incredibly grateful to receive this year’s MENA’s Best Female Chef Award. This recognition is not just for me, but for everyone at Em Sherif who shares the same commitment to our roots and passion for our craft.”

She continued, “For me, cooking is about more than just the food we prepare – it’s about creating a space where people feel welcomed, valued, and at home, no matter where they come from or where they are. In a world that can feel divided, I believe that food is a bridge and not a wedge. It’s a privilege to have the opportunity to share the flavours of my heritage with the world.”

The MENA’s 50 Best Restaurants awards ceremony, which will be held in collaboration with Abu Dhabi’s Department of Culture and Tourism on 28th January, will celebrate the wider region’s vibrant culinary talent.

Additional honours include the Art of Hospitality Award, set to be announced on 7th January, and the American Express One-To-Watch Award, which will follow on 16th January. Together, these accolades spotlight the exceptional individuals and establishments shaping the Middle East and North Africa’s culinary landscape.

Read related:

Monaco’s must-visit restaurants without a Michelin star

 

Monaco Life is produced by real multi-media journalists writing original content. See more in our free newsletter, follow our Podcasts on Spotify, and check us out on Threads,  Facebook,  Instagram,  LinkedIn and Tik Tok. 

 

Photo source: Monte-Carlo SBM