Ukrainian businessman Rinat Akhmetov has made one of the most significant deals in the international real estate market by acquiring a five-story luxury apartment in the prestigious new residential complex Mareterra in Monaco. According to sources, the transaction amount was 471 million euros, making this purchase one of the largest residential sales in world history.
This is reported by Finway
Details of the Deal and Features of the Apartments
The new residence of Akhmetov’s holding company is located in the Mareterra area of the Principality of Monaco. This modern district was created on reclaimed land and was officially opened in 2024 by Prince Albert II. It is known as a place that attracts wealthy investors from around the world.
“The 21-room seaside property acquired by the businessman’s holding company is situated in the Mareterra area of the Principality of Monaco. The new district, built on reclaimed land, was opened by Prince Albert II in 2024 and attracts extremely wealthy investors from around the globe.”
The apartments are housed in the flagship building Le Renzo. Their area is approximately 2,500 square meters, not including a spacious balcony and terraces with picturesque views of the Mediterranean Sea. The property includes a private pool, a jacuzzi, and at least eight parking spaces.
Response from the Holding and Significance of the Deal for the Market
System Capital Management (SCM), Akhmetov’s holding company, confirmed the acquisition of the property but refrained from disclosing details regarding the parameters of the property or the final transaction amount. The company stated that they invested in the Le Renzo project in the primary market back in 2021.
According to industry experts, this transaction surpassed several recent records in the residential real estate sector, including the sale of developer Nick Candy’s estate in London (Chelsea area) for over 350 million dollars, as well as a penthouse in New York, which was purchased by hedge fund manager Ken Griffin for approximately 240 million dollars.
Monaco, located on the rocky coast between France and Italy, is traditionally considered the most expensive real estate market in the world, due to the limited territory of the principality and its status as a tax haven. The Mareterra complex is the result of a decade-long effort to expand the land area through reclaimed territories from the sea. It includes 114 luxury properties: villas, townhouses, and apartments located near luxurious gardens, a harbor, and a public promenade.
According to the Bloomberg Billionaires Index, Rinat Akhmetov’s wealth exceeds 7 billion dollars. His financial success is closely linked to SCM — the largest industrial conglomerate in Ukraine, which invests in metallurgy, mining, and energy.