At 7 Allée Emmanuel-Gonzalès, just a short distance from Boulevard du Larvotto, a new residential development is taking shape. Named Sakura, this private project will replace the former Villa Larvotto No. 1 with a contemporary building primarily dedicated to residential use.
With only twelve apartments planned, carefully designed architecture and a prime location in the heart of the Larvotto district, one of Monaco’s most sought-after areas, Sakura forms part of the gradual transformation of the Principality’s real estate landscape.
The Sakura project is being developed by SCI Esperanza and built by J.B. Pastor & Fils. The Municipal Council issued a favourable opinion on the development in February 2026.
The project involves the construction of a ten-storey building above ground, complemented by four intermediate levels and underground spaces. The building will provide approximately 11,152 m² of floor space on a 611 m² plot.
Unlike several major developments currently underway in the Principality, Sakura is characterised by a deliberately limited number of residences: twelve apartments are planned, mainly three-bedroom units. The development will also include office space and 39 parking spaces.
This low residential density in relation to the project’s total floor area positions Sakura among the new high-end residential developments in the area. It will therefore become a new addition to Monaco’s portfolio of prestigious residences.
One of the project’s most distinctive features is its architecture. The design is by architect Lola Rozewicz, associated with Tadao Ando Architectes Associés.
The building will feature deliberately exposed concrete, clean architectural lines and large windows. The façades will also incorporate terraces and integrated planters to bring more greenery to the development.
This approach contrasts with some of Monaco’s more traditional developments and reflects a desire for architectural simplicity. The depth of the terraces and the design of the openings should also make it possible to maximise views, natural light and the Mediterranean setting of Larvotto.
At boulevard level, the project will extend beyond the private footprint of the residence. A landscaped public pedestrian forecourt is planned at the foot of the building. Its design will be coordinated with the future redevelopment of the neighbouring public garden.
The story of Sakura is also closely linked to Monaco’s unique land constraints.
In April 2025, approximately 305 m² of land belonging to the State’s public domain, located between Boulevard du Larvotto, Le Formentor, Villa Larvotto No. 1 and the Société Monégasque des Eaux, was declassified to allow it to be incorporated into the real estate development.
This transfer formed part of a broader land exchange. In return, the Monegasque State notably acquired the site of the former Le Prestige building in the Jardin Exotique district, as well as eight parking spaces at Patio Palace.
The Principality’s objective is to consolidate these plots in order to eventually develop a new state-owned housing project for Monegasque residents. Initial studies suggested the possibility of creating between 76 and 90 apartments, together with commercial or office space.
Sakura therefore illustrates a very specific reality of Monaco’s real estate market: in a territory covering only a few square kilometres, where every plot of land is strategic, new developments are often part of much broader land transactions.
The investment dedicated to the construction of Sakura is estimated at approximately €30 million, with an anticipated construction period of 38 months announced when the project was presented.
The demolition of Villa Larvotto No. 1 has already been completed and construction work is now underway. J.B. Pastor & Fils regularly documents the progress of the development, with several stages presented since February 2026.
Given the particularly dense configuration of the area, the construction work also requires the temporary occupation of part of the public roadway along Boulevard du Larvotto.
Sakura is being developed in a district that has undergone significant changes in recent years.
The complete renovation of the Larvotto seaside complex, the various real estate projects developed around Avenue Princesse Grace and, above all, the completion of Mareterra have considerably transformed this eastern part of the Principality.
Inaugurated at the end of 2024, Mareterra enabled Monaco to reclaim approximately six hectares of land from the sea, creating new residences, villas, green spaces and public promenades. This exceptional development has also strengthened the real estate appeal of the entire area between Larvotto and the new district.
This transformation is directly reflected in the property market. According to 2025 data from Monaco’s Real Estate Observatory, Larvotto recorded an average resale price of more than €71,000/m², making it the district with the highest average price per square metre in the Principality.
To provide further context on Sakura’s location, Livein.mc also offers a comprehensive analysis of the Monaco property market and prices per square metre by district.
The most recent developments play an important role in this evolution of property values, with supply remaining particularly scarce in a territory where opportunities to develop new residences are extremely limited.
The Sakura residence is located at 7 Allée Emmanuel-Gonzalès, close to Boulevard du Larvotto, in the Larvotto district.
The project will include 12 apartments, mainly three-bedroom units. The building will also feature office space and 39 parking spaces.
The anticipated construction period announced when the project was presented is 38 months. Construction work is currently underway in Larvotto.
Beyond its contemporary architecture and limited number of residences, Sakura forms part of the ongoing transformation of Larvotto, close to Mareterra and Avenue Princesse Grace. The project is also linked to a land exchange with the Monegasque State, which could facilitate the development of new state-owned housing in the Jardin Exotique district.
In Monaco, major events are an integral part of the landscape. They shape the atmosphere of the destination and attract an international clientele seeking unique moments, driven by natural elegance and...
The Grimaldi Forum di Monaco : An architectural jewel at the service of entertainment and culture An architectural marvel on the edge of the Mediterranean A true emblem of the Principality of Monaco...
The monegasque real estate market, known for its exclusivity and high prices, sees its game rules changing profoundly. Indeed, since September 1, 2024, the property dealer profession is subject to a more...
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
