Palm replica for Monaco?
03 October 2008
The tiny Principality of Monaco is rumoured to be planning a replica of Dubai's Palm island, according to Arabian Business News.
Architects Norman Foster and Daniel Libeskind are understood to have been approached to design the new island after Monaco's ruler, Prince Albert II, invited bids for the project, which will stretch out into the Mediterranean Sea below the world famous Monte Carlo casino.
In all, reports Arabian Business News, five bids have been received and the winner is expected to be announced early next year. Work could then start in 2011 and last 10 years.
Estimated to cost € 11 billion, the Monaco project would add 10 ha to the tiny principality's territory.
Monaco's Prime Minister, Jean-Paul Proust, is quoted as saying Britain's Norman Foster and his US rival Daniel Libeskind were favourites at this early stage, thanks to the technical and environmental qualities of their respective bids.