With a transaction valued at an estimated €471 million, Ukrainian billionaire Rinat Akhmetov has completed one of the world’s most expensive residential sales, in the heart of Monaco’s new Mareterra district.
The ultra-luxury real estate market has just reached a new historic milestone. Ukrainian businessman Rinat Akhmetov, considered the wealthiest man in his country, has purchased an exceptional apartment in Monaco for €471 million. A true record !
Mareterra, the new sanctuary for the ultra-wealthy
The property is located in the Le Renzo building, within Mareterra, a seaside extension inaugurated in late 2024 that has become one of the world’s most expensive addresses in just a few months. This real estate project, built on land reclaimed from the Mediterranean, attracts a wealthy international clientele seeking exclusivity and discretion.
Indeed, while real estate prices per square meter hover around 50,000 euros in Monaco, prices in Mareterra push all boundaries: they are said to exceed 100,000 euros per square meter, and rents could even reach 150,000 euros per month.
The apartment purchased by the billionaire is, in fact, more akin to a vertical residence than a simple pied-à-terre : spread over five levels, it spans approximately 2,500 m² and comprises no fewer than 21 rooms.
The property also features top-of-the-line amenities : a swimming pool, a jacuzzi, spacious terraces with views of the Mediterranean, and at least eight parking spaces. This type of layout is extremely rare, even in the ultra-luxury segment.
This acquisition therefore sets a new record for the most expensive residential property sale ever recorded. It surpasses the transaction completed in early April 2026 for British businessman Nick Candy’s London mansion, sold in the Chelsea neighborhood of London for £275 million (€318 million), also considered one of the most expensive in the world.
Rinat Akhmetov : real estate as a signature of wealth
This is by no means Rinat Akhmetov’s first foray into luxury real estate. The businessman already owns several prestigious properties: the Les Cèdres villa on the French Riviera, acquired in 2019 for approximately €200 million, and a penthouse at One Hyde Park—considered the most expensive in London—purchased over a decade ago for $213 million, among others.
With this purchase in Monaco, he reaffirms his wealth strategy centered on acquiring the rarest assets. And for good reason : his fortune is estimated at nearly $8 billion as of July 2025, ranking him as the 390th richest person in the world. He built his fortune through SCM, Ukraine’s largest industrial conglomerate.
According to Forbes rankings, his fortune even exceeded $30 billion in 2008 and hovered around $10 billion in 2014 before he fully recovered the losses incurred after the start of the conflict between Ukraine and Russia that same year. He continued to provide financial aid during the Russian invasion in February 2022, even as he lost two-thirds of his fortune : Russian forces destroyed approximately 70 companies in the steel, energy, and agriculture sectors owned by Rinat Akhmetov.
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Featured photo : © Mareterra Monaco
