British architect Lord Norman Foster is competing with American Daniel Libeskind to extend the world’s tiny principality of Monaco out to sea.

The plan, by Prince Albert II to increase the size of the worlds smallest independent country, is to cost between €5bn and €10bn.

Foster is part of a consortium of Monegasque, French and Italian developers called Monte Carlo Development Company, while Libeskind is backed by Dutch and Belgian construction giants.

The two architects are among five of the world’s top architects shortlisted from an initial 16 to add around 25 acres to Monaco’s land surface, currently three quarters of a square mile.

Jean-Paul Proust, Monaco’s minister of state, said the projects by Foster and Libeskind were given special distinction for their technical and urban criteria, writes Britain’s Telegraph newspaper.

However, Proust told the newspaper that none of the final five has been eliminated from the running.
Real estate in Monaco is the most expensive in Europe.

By staff writer.