Business & Finance
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Larvotto traders who have had to close their doors for a major beach renovation have met with the Monaco government and other works representatives.
Minister of Finance and Economy Jean Castellini, Administrator of the Domaines Rémy Rolland, and Olivier Damour of the Public Works Department visited Larvotto on Friday 11th October, the site of a multi-million euro upgrade that will last for two years.
“The purpose of my visit is to show the Government’s interest in Larvotto traders and this project which involves a complete redevelopment of the area,” said Jean Castellini. “I can only commend the state of mind of each stakeholder during the process, in particular the Administration of the Domains (who) set the compensation based on turnover.”
The entire coastal area of Larvotto, including the public beach and businesses, was shut down in early October as bulldozers moved in to prepare the site for works.
It is one of two major redevelopments currently being undertaken within the space of a few hundred metres. The other is of course the land extension and new eco-district which is being built near the Grimaldi Forum.
“Today signals a new era and a great opportunity to renovate (Larvotto) and bring it to the finest international standards,” added Mr Castellini. “A magnificent urbanisation project is being built at sea, so it was only logical that as part of that extension, the Larvotto beach be redone.”
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