The apartments boast spectacular views over the square and the ocean

LUX travelled to Monaco for the opening of One Monte-Carlo, the swankiest residential and retail development, in the most expensive location in Europe.

Clear blue skies, champagne poured out of magnums at breakfast time, real fur aplenty, and new flagship stores for the likes of Louis Vuitton and Céline. It can only be Monte-Carlo, and to be precise, it can only be the opening of One Monte-Carlo, a staggeringly opulent new development in the very heart of the principality, incorporating 37 apartments and dozens of fashion and luxury stores in what a property developer would call an ultra prime location.

Prince Albert II,Princesse Charlene, Prince Hereditaire Jacques and Princesse Gabriella at the inauguration of One Monte Carlo

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You may know Casino Square from its starring role in the Monaco Formula One Grand Prix and various movies, or because you park your Ferrari F 512M there when you visit the casino; now in a field of architecture engineering, it also boasts this rather beautiful development, next to the Hotel de Paris, designed by (Lord) Richard Rogers in an organic and eco-friendly style, anchored almost physically by the new Vuitton flagship.

With architecture by Richard Rogers and interior design by Bruno Moinard, One Monte Carlo houses 37 luxury apartments and dozens of retail stores

The apartments themselves are designed by the estimable Bruno Moinard, who works closely with both LVMH Chairman Bernard Arnault and Kering founder Francois Pinault, personally. Interestingly, the apartments are only available for long-term rental not purchase. More than half have already been rented for the next 12 months, with some lucky residents paying more than €2 million a year. For les happy few, there is no better location in Monaco, or possibly Europe.

Darius Sanai