Ukrainian businessman Rinat Akhmetov has purchased a five-story luxury apartment in Monaco for EUR471 million ($554 million), Bloomberg reported. According to the report, this is one of the largest known transactions involving the sale of a single residential property in history.
According to the publication, the property is located on the waterfront in the new prestigious Mareterra district, built on reclaimed land and set to open in 2024. The apartments are located in the Le Renzo complex and were purchased by the businessman’s holding company.
Bloomberg reports that the residence has 21 rooms and covers approximately 2,500 square meters, excluding balconies and terraces overlooking the Mediterranean Sea. The article also mentions a private pool, a jacuzzi, and at least eight parking spaces.
The stated amount makes the deal a contender for the largest known residential sale in history, notes Bloomberg. The agency compares it to the recent sale of developer Nick Candy’s London mansion for over $350 million and the purchase of a New York penthouse by Citadel founder Ken Griffin for approximately $240 million.
The property is located in Monaco’s new luxury district, which is already positioned as one of the world’s most expensive residential developments. The Financial Times previously reported that prices in Mareterra reach EUR120,000 per square meter, and the project itself includes 110 apartments, four townhouses, and 10 villas.
According to the Bloomberg Billionaires Index, Akhmetov remains Ukraine’s richest person. A Bloomberg report on the purchase emphasizes that the deal was made by a businessman whose fortune the agency estimates at more than $7 billion.
Rinat Akhmetov is the founder and owner of the SCM Group, whose key interests are concentrated in energy, metallurgy, telecommunications, the banking sector, real estate, and logistics.
