Monaco’s Supreme Court on Friday ruled against Patrice Pastor in the long-running case of the Esplanade des Pêcheurs development, a project that will change the face of Monaco.
Pastor’s SCI Esperanza company had taken on the state of Monaco to challenge the technical process whereby the site for the ambitious project had been ‘decommissioned’ and made available for development, with the contract awarded to the Caroli group, a Pastor competitor.
As part of its ruling the court said that the real estate project envisaged on the Esplanade des Pêcheurs represents “a public interest” because it will include 5,400 metres of cultural surfaces, and an esplanade of 3,700 square metres.
The saga of the Esplanade des Pêcheurs development has been running for almost 10 years and involved another court case in which Caroli succeeded in overturning objections from the Automobile Club based on the loss of space for F1 teams and media. The end result of that earlier case was that the state owed Caroli millions of euros in damages when it withdrew its initial permits in the face of ACM opposition.
ARTIST’S IMPRESSION of the Esplanade des Pêcheurs development: Caroli Group
