Prince Albert of Monaco was this week forced to find an “amicable solution” to a disagreement over the Caroli real estate project. Negotiations faltered following a property dispute. The principality was forced to pay Antonio Caroli – CEO of the Caroli Immo Company – €150m (£138m) after it abandoned the vast real estate and cultural project on the Esplanade des Pêcheurs – although Mr Immo has now renounced this amount after talks reopened.
The property development is part of a new push to cater for Monaco’s growing population.
It will include a private building, along with state-owned apartments, offices for port employees and a museum dedicated to Man and the Sea.
Monaco attracts more than seven million people a year.
Its allure also rests in it being one of the richest regions on the planet, with around 30 percent of Monaco’s population millionaires.
Tourists also flock in their thousands to the famous Monte Carlo casino.
With such vast wealth constantly on show, Monaco has has to develop one of the strictest police forces in the world, with one officer per seventy inhabitants – more than the UK.
During the BBC’s documentary ‘Inside Monaco: Playground of the Rich’, Monaco’ Thierry Amey, Monaco Police’s chief shooting instructor, explained criminals will face justice whatever the cost.
He said: “Often just the sight of a weapon is enough to diffuse the situation.
JUST IN: Monaco laws: Unusual rules principality has to follow
It gives its main police quarters a real-time view of nearly every street in order to scupper any illegal activity immediately.
Monaco’s legal code is also incredibly strict.
Several old and bizarre laws can land you in prison.
Of the strangest, walking down the street barefoot can get you into serious trouble, as well as walking without a shirt.
You’re also not allowed to drive or park a camper van in the principality,
Monaco Police’s Lieutenant Guillaume Deken admitted “it’s an old law, I don’t know it’s origins”.
Most of the criminal cases brought to light in Monaco are carried through one way or another.
Chief of Police Richard Marangoni said: “Every infraction is prosecuted – from the smallest to the largest.
“We take action.
“If your car door gets scratched we’ll take action.”
Prince Albert himself remarked policing in Monaco is of “paramount importance”.