In the case of Monaco land reclamation directly competes with building up taller high rises.
Monaco’s skyline is mostly composed by 1960/70s high rises while the map and shape of Monaco is highly influenced by land reclamation projects (most prominent at Fontvieille, to the West of the Rock, which basically replaced construction up from the 70s to about the present). 2000/10 after further land reclamation was considered and discarded, the beautiful Tour Simona and the more recent and controversial Tour Odeon the tallest in the Mediterranean was and is being built.
-Land reclamation was proven unfeasible because of the underwater habitat destruction it would cause.
-Floating land was not considered for residential real estate beyond futuristic approaches (Lilypad), but they did purchase and installed the famous Floating Breakwater which added many valuable commercial square meters to the tiny country. The least expensive single parking space within Monaco you can be lucky to find costs at least EUR150,000, but they can go up to half a million.
-The construction of the Tour Odeon, the chosen solution to augment the size (in usable residential square meters) of the City-State this decade, has caused a lot of problems and polemics with the neighboring French community of Beausoleil even though its on sovereign Monegasque territory.
Conflicting interests during construction (noise, dust, traffic complications in a very small placed tucked between the mountains and the sea) and foreseen for after completion (shade!) are inevitable when trying to push coastal density to the limits.
Monaco is the only country in history that has almost doubled in size through peaceful means.
Monaco is a thriving independent country without an own airport, seaport (beyond two yacht marinas), or arable land. Even more relevant to Monaco’s economic constitution, Monaco’s Golf course and Tennis courts are also on French territory since the only alternative for such large open-surface activities would have been the sea. As can be appreciated in the map, much more than 90% of Monaco’s sovereign territory is water.
Floating platforms could alter the shape of Monaco from a (tilted) East-West axis
to a comparatively gigantic North-South axis.
Only the French (and Italian) Riviera would compete with a Monegasque Seastead: investors would have to ask themselves which is safer, terra firme, land under the whim of French Law, or floating dry surfaces within Monaco’s Territorial waters.
The Luxury of the Present is the Necessity of Tomorrow.