Ukrainian billionaire Rinat Akhmetov has acquired luxurious apartments in Monaco for €471 million — one of the most expensive residential deals in history.
The luxurious apartments are located in the Le Renzo complex within Mareterra — the newest and most exclusive coastal project in Monaco, which has been attracting ultra-wealthy buyers from around the world since its opening in late 2024.
According to Bloomberg, the first to report on the deal, the five-level apartments comprise 21 rooms and cover approximately 2,500 square meters. They include a private pool, a jacuzzi, and at least eight parking spaces.
Judging by the data from Monaco's real estate registers and documents, including emails and preliminary agreements reviewed by Bloomberg, the deal was completed in 2024.
Ahmetov's holding company, System Capital Management (SCM), confirmed the purchase but declined to disclose details about the property and its cost.
"SCM's international investment portfolio has included a separate portfolio of premium real estate for over ten years, as has been publicly stated multiple times," Bloomberg quoted the company.
"Among these assets is the Le Renzo project, in which we invested in the primary market in 2021."
The timing of the purchase agreement indicates that it was signed before the start of Russia's full-scale invasion of Ukraine in 2022.
Based on the declared amount of €471 million, this deal becomes the largest in the history of residential real estate sales, surpassing other notable records, including the sale of a London mansion owned by British businessman Nick Candy in the Chelsea area, which, according to media reports, sold for £275 million (€317 million).
According to the Bloomberg Billionaires Index, Ahmetov's net worth exceeds $7 billion (€6 billion). He earned it through SCM — the largest industrial conglomerate in Ukraine with assets in metallurgy, mining, energy, and real estate.
Mareterra itself is rapidly becoming one of the most expensive addresses in the world.
According to available data, property prices there exceed €100,000 per square meter, while rental rates reach up to €150,000 per month.
According to a Savills study, Monaco remains the most expensive housing market in the world: in 2024–2025, the average cost per square meter here reaches approximately €52,000.
According to the real estate company, the principality's market is characterized by a "chronic supply shortage" and extremely limited land resources, while sustained demand from wealthy buyers worldwide allows prices to remain at record levels despite overall economic uncertainty.
