Land-hungry Monaco completes purchase

Monaco has completed the purchase of a parcel of land strategically placed between the Principality and the A8 motorway, following more than three years of negotiations. The cost of the relatively flat piece of land, known as the Brasca Plateau, was €20 million.
The parcel, in the commune of Eze, was originally targeted by the Automobile Club, which started serious negotiations for the land in 2014. The club has been renting the space since 2010 and using it as storage for equipment and vehicles associated with the annual Grand Prix and other events.Later, the Principality itself took over the negotiations for the 200,000 square-metre plot.
The sale of the land will allow Eze to become debt-free, while the Principality has no concrete plans for the land as of yet.

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