Monaco Project’s impressive reach

In order to complete our clients brief on time and on budget Monaco Projects had to go to special  lengths to accomplish the job.

See video here..https://www.facebook.com/watch/?v=289996942234124

Our client had asked us to complete a 400m² 12th floor luxury apartment in a time scale of 6 months. The work included a complete internal demolition, back to bare concrete. Followed by a luxury re-build and fit out using the highest quality materials.

Access for materials would have been impossible through the building, so with my team we organised closing the road at night and the use of a 40m reach crane lift. This specialist access equipment allowed Monaco Projects to bring up all the necessary materials – including 3m lengths of marble – within one evening. Essential to stay within our 6 month target.

It’s what we do.

For more information or to discuss your projects please contact rozz@monacoprojects.com

 

 

 

Why are renovations so expensive in Monaco ?

This is the first of a series of posts that we will be publishing explaining and exploring various topics related to renovating properties in Monaco. It seems only fitting that we start with the one question I have been asked the most in the last 20 years… 

Why are renovations so expensive in Monaco?

To fully understand this we need to appreciate that Monaco is a property supply-constrained market. 

The key point here is ‘supply-constrained’, not only in terms of the properties available but also the number of businesses, contractors, designers and companies who service the renovation market and are AUTHORISED to work in the Principality. Non Monegasque companies require an authorisation from the Government and must notify the Business Development Agency. They are requested to submit an application and obtain approval from the Administration before any work can commence

Builders’ costs

General Building Contractors also includes technical trades, electrics, plumbing HVAC etc.

In calculating the cost of a renovation the following overheads need to be incorporated into the contractors price;

  • Cost of administration including insurances.
  • Operating costs, vehicles, waste disposal etc.
  • Limited / difficult access
  • Staffing costs (including relatively high social charges)
  • Limited working hours (Hours available to work in most buildings. 9.00 – 12.00 and 14.00 – 17.00.  6 hrs on average per day.)
  • Limited working days (No works on Saturdays unless with specific authorisations.)
  • Limited working months (No works in most buildings during the month of August, some residences also include July.)

Therefore when compared to European counterparts, you effectively have a 4 day work week and an 11 month year. Which extends the lead time, reducing working efficiency and as a result increases the builders costs.

Material costs

Material costs can be higher as the majority of materials may need to be bought in from outside of Monaco. The physical size of monaco means that most suppliers will hold limited standard stock only. These increased transportation costs, delivery lead times and administration costs need to be factored in.

Professional fees and costs

Monaco consists mainly of apartment blocks. Each of these will all have a ‘Syndic’ tasked with the administration of that building. Part of their administrative duties will include the granting of authorisations to carry out works.

When undergoing major re-structuring you will need a Monaco Urbanism authorisation (building permit) and a Monagasque Architect as well as permission from the Syndic. 

The Syndic  may impose further requirements upon you.

  • Huisseur (Bailiff) to record the condition of surrounding apartments and common areas and recording the display of the Building permit on the work site.
  • Bureau of Control. Compliance office that is an external organisation paid for by you that oversees the construction methodology and gives their recommendations and technical advice.
  • Bureau d’etude (technical study). This could be for example structural engineers, electrical, heating & ventilation.
  • Assitant Maitre d’Ouvrage. Client representative who deals with all trades and service providers on behalf of client. 
  • Technical controller. He works on behalf of the Co-property to ensure that all works especially where they impact the common parts, water, electricity, ventilation etc. are done in accordance with the building rules.
  • Global Chantier Insurance. Unlike France there is no 10 year Guarantee (garantie decinal) in Monaco. You will need to subscribe to a further Global Chantier Insurance that covers the works for 10 years.
  • Toute Risque Chantier Insurance. An additional insurance that covers the works during the building phase.

You need to budget around 15% of the total build costs for Professional fees and design services. It is good practice to have a trusted project manager to ensure that all these requirements and contractors are managed. The project manager will not only control lead times, deliveries, quality but more importantly costs. A good project manager will save you more money than they cost. Not forgetting, time, stress, languages and regulations.

Changes to scope of works 

One more element which invariably impacts the build cost (and lead time) significantly is changes to scope of works.

It is absolutely essential that before any works can even be quoted you have a full scope of works document. If the project is detailed completely from A – Z then you are well ahead of the dreaded cost creep. This will mean that all contractors are quoting like for like. This makes it easier to negotiate and avoids hidden surprises.

A benefit of employing an interior designer is that they will provide you with the designs showing the final finished look. This design can be used by a good project manager to create a detailed scope of works for accurate quoting purposes and a work schedule to be formulated.

The timing of changes is time sensitive. When they are made may impact the cost and lead time extensively. 

Unforeseen additional works are difficult to factor in. A project manager will build in some contingency for some instances. These are difficult to predict, they could be discovering hidden pipework during the demolition phase, or uncovering hidden damp which will need additional treatment.

Conclusion

Building costs can be high in Monaco due to the above mentioned reasons. This should not deter you from taking on a project as these costs apply to every project. 

What is critically important and the only way to control costs and ensure the results are as you specified is that you have a detailed design package, a detailed scope of works and a realistic budget for your project. Together with the right advice and guidance you will be able to achieve your renovation goals.

Monaco Projects have over 20 years of experience renovating properties, dealing and managing the contractors, government, budgets, lead times and delivering results.

Please get in touch if you would like some advice on your property project plans.

Stunning hand crafted sink

Our client was so happy with this beautiful bespoke hand crafted sink. Although stunning, solid marble is not the easiest material to work with. It’s weight, size and methodology needed to hang it in a floating state is really challenging.

Luckily at monaco projects we work with some of the best quarries, artisans and professionals to guarantee a beautiful finish every time.

To find out more go to monacoprojects.com

Monaco Renovation Maze

Don’t get lost in the maze

Developing or renovating property in Monaco can be a maze. Which is why you need a partner like Monaco Projects to guide you through all the intricate steps.

With over 15 years experience in Monaco we can arrange all your planning applications, deal with the Syndics and prepare presentations for all work authorisations. We will arrange all on site works and manage all contractors and engineers ensuring that your interests are protected at all times. We manage your project from start to finish as we have done for many satisfied clients.

Don’t get lost in the maze. monacoprojects.com

The selection of materials gave a great clean look

Another Project Delivered !

Our property developer client was extremely happy with the fast turnaround of his 3 room apartment which he sold within 1 month of us completing the renovation.

We have started another two projects for the same client doing the design, handling all the Monaco administrative requirements and managing the works.

Fantastic light
Bright Salon

To see how we can help you call Rozz Marcel on 0607938497

Ceramic-marble-tiling

Monaco Projects cleans up again !

Clever use of a ceramic marble effect tile in a bathroom by Monaco Projects to create a stunning contemporary effect without the usual drawbacks of using real marble, such as staining, fragility and cost.

For more innovative ideas and cost savings for your properties, call Monaco Projects on 0607938497.

COCC charity bike ride in aid of Princess Charlene of Monaco Foundation

Monaco Projects sponsors the COCC cycle ride in aid of the Princess Charlene of Monaco Foundation

Monaco Projects is a proud sponsor of the 2017 Champagne and Oyster Cycling Club (COCC) charity cycle ride that took place on 30th April.

 

COCC charity bike ride in aid of Princess Charlene of Monaco Foundation sponsored by Monaco Projects

COCC charity bike ride in aid of Princess Charlene of Monaco Foundation sponsored by Monaco Projects

The ride started at 8am in St Tropez and finished on the port in Monaco after 140km and 8 gruelling hours in the saddle for the 90 participants.

Monies raised from the event will, as in previous years, be donated to the Princess Charlene of Monaco Foundation. This year the charity’s focus is a first aid and CPR training complex in Loumbila, Burkina Faso, a joint project with the Princess Charlene of Monaco Foundation, the Monaco Red Cross and the Burkinabe Red Cross.

COCC charity bike ride in aid of Princess Charlene of Monaco Foundation sponsored by Monaco Projects

COCC charity bike ride in aid of Princess Charlene of Monaco Foundation sponsored by Monaco Projects

The facility will include an Aquatic Rescue Centre, financed by the Princess Charlene of Monaco Foundation, to allow the training of rescuers and lifeguards from Burkina Faso and other countries in the region. The mission will include a water-safety programme and swimming lessons available to the thousand plus local high school students, many of whom have never had an opportunity to be in a pool, but who are often at risk of drowning during floods.

Monaco Projects’ Managing Director, Rozz Marcel, was unfortunately forced to withdraw from the event at the last minute due to injury but was, nevertheless, on hand throughout the ride to give assistance and encouragement.

 

COCC charity bike ride in aid of Princess Charlene of Monaco Foundation sponsored by Monaco Projects

COCC charity bike ride in aid of Princess Charlene of Monaco Foundation sponsored by Monaco Projects

We are delighted to have contributed towards the impressive sum raised in this year’s event and Rozz promises that he will be in training very soon to ensure that he is completely ready for the 2018 ride!

Interior Design Monaco, Interior Designer Monaco, Lighting design Monaco, Led Monaco,

Lighting Design by Monaco Projects

Here are our hot tips for successful staircase lighting

 

LOW LEVEL

Use low level lights to illuminate stairs. Consider using one fitting to highlight every, or every other, step for a stunning result.

Interior Design Monaco, Interior Designer Monaco, Lighting design Monaco, Led Monaco,

 

UPLIGHTS

Recess uplights into your staircase to create a dramatic effect with a functional use.

Interior Design Monaco, Interior Designer Monaco, Lighting design Monaco, Led Monaco,

 

PENDANTS

Suspending multiple pendants down stairwells at different heights is a great way of creating a real statement that goes beyond simply providing a means of lighting.

Interior Design Monaco, Interior Designer Monaco, Lighting design Monaco, Led Monaco,

 

LED TAPE & EXTRUSIONS

Create a contemporary look to your stairs using LED tape and extrusions.  Under light, up light or side light stairs and turn them into a real feature.

Interior Design Monaco, Interior Designer Monaco, Lighting design Monaco, Led Monaco,

Please contact alice@monacoprojects.com for further information about staircase lighting.