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Monaco,
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the miniature nation,
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not much bigger than Hyde Park,
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00:00:09,000 --> 00:00:11,160
on the French Riviera,
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00:00:11,160 --> 00:00:13,960
where one in three residents
are millionaires.
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In Monaco, a helicopter
is considered like a car
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00:00:19,720 --> 00:00:21,720
for most of the people living here.
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00:00:24,520 --> 00:00:27,280
Prince Albert,
the Sovereign Prince of Monaco,
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agreed to let cameras film
last summer
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behind the scenes
of the royal palace.
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They call him "le Patron".
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The Boss.
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And in this private playground
of the world's super-rich...
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How much would it cost me
to buy the whole bottle?
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28,000 euros.
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..we meet the billionaire residents
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and those who serve them.
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It's a stress, huh,
the rush time, yes.
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Any idea how much THIS
would cost you per night?
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I don't know the price of the room,
nothing.
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I just clean the room.
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For me, they are like
crazy children.
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They want more and more and more.
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I wake up every morning, I'm, like,
"Oh, my God, I'm living in Monaco,
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"I'm living in a dream."
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At just two square kilometres,
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Monaco is one of the smallest and
wealthiest countries in the world.
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A packed calendar of events
keeps the super-rich entertained
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and the Classic Yacht Week
attracts boating enthusiasts
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from across the globe.
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Cheers!
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We drafted a great team
from Nantucket Yacht Club,
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because we're all Americans,
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and when I rang up and said, "Gee,
we've got this possibility,
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"what do you think?"
Yes.
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Are you kidding me?
Where do I sign up?
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Regattas have been held in Monaco
since the 19th century,
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and this exclusive event showcases
some of the best classic yachts
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from years gone by.
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What's special about Monaco?
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What isn't special?
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Is there anything that's
NOT special about Monaco?
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The champagne's very special.
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We just are so enjoying
ourselves here.
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You never get bored in Monaco.
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Out on the water,
competition is fierce,
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as yacht crews test
their sailing prowess
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in a series of races.
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Today's event, however,
is a more demure affair.
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The Elegance competition is a chance
for yacht owners to show off
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their pride and joy, knowing that,
rather than speed,
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their boats will be judged
purely on looks.
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Sitting on the judging panel are
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Princess Camilla
of Bourbon-Two Sicilies
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and yacht owner Christian Chalmin.
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The position here is fantastic.
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Perfect view.
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Perfect view so that we can
really judge what's happening.
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It's very important.
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We are, as you can see,
we have to give,
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we have to give notes.
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Every single boat.
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Skippers are carefully judged
on how well their yachts and crew
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are presented...
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..and even minor indiscretions
can jeopardise their chances.
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It's a question of courtesy
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that when the beautiful
sailing boat goes by,
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the flag should be put
a little bit lower,
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and so that is a grade less.
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Yes, that's it.
The flag is down.
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Perfect.
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Tell me about judging.
What expertise do you have?
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Well, actually, here,
what they are expecting from us
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is more of what they call
a "coup de coeur",
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so something that
your heart expresses.
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00:04:18,160 --> 00:04:20,760
You can have a coup de coeur
for a boat like this,
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like when you fall madly in love
with a man, or woman. That's it.
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Obviously, you have
very high standards.
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Well, you know,
we have 80 boats today, you know?
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So we have to make differences,
and to make differences, make that,
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you know, we cannot say
"ten" to each one, you know?
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Prizes will be awarded
at the end of the week
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by the Yacht Club's president,
Prince Albert.
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But winning here can be about
far more than lifting a trophy.
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Of course, to receive a prize
from the Sovereign Prince of Monaco,
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it's even a double winning, somehow,
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and I think even the boat's value,
in itself, emotionally,
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but also financially, goes up.
It's important.
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So, have you had a coup de coeur
today? Have you fallen in love?
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Yes, but I can't tell you.
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Bravo.
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The Classic Yacht Week may be
steeped in maritime traditions
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of the past,
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but back on dry land,
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property developers
have their eyes firmly set
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on the Monaco of the future.
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We go?
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Today, potential buyers have been
invited to an open day
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for an exclusive new property that
has recently come onto the market.
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Built into a cliff face,
this one-off home has been named
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Villa Troglodyte,
meaning "living in a cave",
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and has taken its Monegasque
property developer almost two years
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to complete.
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Spread across five floors,
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the villa has 500 square metres
of living space.
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With solar panels on the roof
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and an indoor swimming pool
carved into the bedrock,
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it may be the most luxurious
and expensive cave on Earth.
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A fantastic house.
How did you find it?
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Lovely. Absolutely wonderful.
It's really unique.
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Very, very inspiring.
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But interested buyers
will need deep pockets,
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as this house is on the market
for around £23 million.
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Might you be a buyer?
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No, I don't think.
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No, not yet.
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Maybe on Friday, there's a lottery,
and I'll play the lottery,
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and then I'll come back
and we'll have another talk.
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Estate agent Andrea has seen
increasing demand for properties
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like this, despite the villa's
extraordinary price tag.
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Prices are going up, year by year,
about 10%.
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Yeah, roughly.
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Yeah.
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Monaco, it's a special place.
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Is there a market
for a place like this?
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00:07:04,680 --> 00:07:06,000
Sure, absolutely.
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Especially in Monaco,
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there are potential clients,
potential customers,
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I am 100% sure, yeah, yeah.
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00:07:12,040 --> 00:07:16,000
Sooner or later this villa
will be sold, yeah.
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Absolutely.
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00:07:17,360 --> 00:07:20,600
But it doesn't look like
it will be snapped up today.
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This house may be high spec,
but there is one thing it's lacking.
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It does have everything,
but it doesn't have a view.
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00:07:27,920 --> 00:07:31,960
So it would be perfect if you had,
like, a perfect sea view out.
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That's the only thing missing.
The rest is perfect.
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The view, you can never
guarantee it.
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00:07:37,320 --> 00:07:39,560
So you can buy an apartment
today in Monaco,
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and have the most beautiful view,
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00:07:41,360 --> 00:07:43,400
and tomorrow there can be
a new project,
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and they can build a building
in front of you,
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and then you are losing the view.
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So, actually, what they say,
if you have to invest,
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it's better to invest directly
in an apartment without a view.
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00:08:04,000 --> 00:08:06,080
It is a special place, Monaco,
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because every centimetre
is filled up, as you see.
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Monika Bacardi has owned property
in Monaco for more than two decades.
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The space is very limited,
and so the buildings are more,
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are more expensive,
because they're not so many,
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and a lot of people
want to live here.
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With space at such a premium,
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Monika's multi-storey house is a
rarity among Monaco's 20,000 homes.
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It's a townhouse,
a Monaco townhouse,
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and I'm living here for many years,
I think 25 years.
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Really?
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How many floors?
We have a service floor, this one,
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my daughter's floor,
my floor, the office floor...
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So we have five floors.
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Five floors.
Yeah, and we have a lift.
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You would obviously
get good exercise,
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going up and down the stairs.
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I'm making good exercise.
I don't have to go to the gym.
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One, two, three, four,
five o'clock rock!
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I rock it up the stairs!
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Can we have a look out onto
Absolutely. Please.
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This is our living room.
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Unfortunately, a building,
a building in front of us.
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Before, there was a whole sea view,
and the sea wind coming,
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but now you see the
big construction they're doing.
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That's one of the issues
in Monaco, isn't it? The views.
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The views, yes.
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Unfortunately,
sometimes they disappear.
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You may know only be able to see
the tiniest sliver of sea,
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but this townhouse is still worth
at least £30 million.
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Back at the harbour,
Classic Yacht Week is in full swing.
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The event is being hosted
by Monaco's exclusive Yacht Club,
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established by Prince Rainier
in 1953.
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Membership is by invitation only,
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and must be approved
by Prince Rainier's son,
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and current club president,
Prince Albert.
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This yacht club,
you see how impressive it is,
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is also a testimony
of how Monaco's successful,
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when it comes to the sea,
whether it's yachting,
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whether it's the industry around it.
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This is a place
where business deals are done,
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and those in the know
come to be seen.
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And being seen means dressing
for every occasion.
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At one of the country's
hundred boutiques,
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owner Laurent and sales assistant
Jennifer are on hand
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to welcome the elite clientele.
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Belgian-born TV presenter Winny
is a Yacht Club regular,
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and has bought her outfits here
for the last decade.
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00:11:03,360 --> 00:11:06,160
Winny, she comes every, every month
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00:11:06,160 --> 00:11:09,640
and she bought every time
one or two dress, every month, yes.
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Yes, oh, yes!
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00:11:11,600 --> 00:11:14,920
She's one of the best class
customers in our shop.
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00:11:14,920 --> 00:11:17,360
Your dresses are so beautiful.
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00:11:17,360 --> 00:11:20,720
It's, er, it's like the candy shop
for the girls here.
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00:11:20,720 --> 00:11:22,640
Yes!
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00:11:22,640 --> 00:11:27,600
So the dress that I need
for tomorrow evening,
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00:11:27,600 --> 00:11:29,280
it's for the...
I go to the Yacht Club.
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00:11:29,280 --> 00:11:33,400
So there is a nice evening,
you know,
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lots of glamour and, er,
and bling bling, so, er...
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00:11:37,560 --> 00:11:40,120
So you need something
very long, something...
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00:11:40,120 --> 00:11:43,200
Yes, yes.
I want that everybody see me!
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00:11:43,200 --> 00:11:45,160
OK, perfect.
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00:11:45,160 --> 00:11:47,560
I have one in gold.
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00:11:47,560 --> 00:11:50,360
That is beautiful.
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00:11:50,360 --> 00:11:54,440
My God, it's amazing!
We have just received it yesterday,
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and I thought that is really
Oh, my God.
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00:11:57,720 --> 00:11:59,520
Oh, my God!
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00:11:59,520 --> 00:12:01,840
Oh!
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00:12:04,800 --> 00:12:07,200
Is this just a bit too much
for the Yacht Club?
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00:12:07,200 --> 00:12:10,360
No, it's never too much for Monaco!
215
00:12:10,360 --> 00:12:13,360
I think for the Yacht Club,
it's not too much.
216
00:12:13,360 --> 00:12:15,960
It's really Monaco style, this.
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00:12:15,960 --> 00:12:18,720
Really, really Monaco style.
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00:12:18,720 --> 00:12:23,920
In Monaco, everybody likes
to impress their friends,
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00:12:23,920 --> 00:12:27,920
and, er, yes, it's, it's,
a part of the game for Monaco.
220
00:12:29,440 --> 00:12:31,080
What about the price tag?
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00:12:31,080 --> 00:12:37,320
You need a good husband who has
a good credit card,
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00:12:37,320 --> 00:12:38,360
because...
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00:12:43,920 --> 00:12:46,320
La couleur, sublime.
224
00:12:46,320 --> 00:12:48,560
This is an amazing dress.
225
00:12:50,080 --> 00:12:53,160
Bling, bling, bling, bling,
bling, bling, bling!
226
00:12:53,160 --> 00:12:56,440
With this dress, Winny,
you are the queen of the evening.
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00:12:56,440 --> 00:12:58,080
Of the night.
228
00:12:58,080 --> 00:13:01,960
You have to see me,
if you see me in this dress.
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00:13:01,960 --> 00:13:03,880
Monaco, it's very small,
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00:13:03,880 --> 00:13:08,680
everybody see you, and you can
wear one time your dress,
231
00:13:08,680 --> 00:13:11,360
and this is the problem here.
232
00:13:11,360 --> 00:13:13,560
What is the price of this?
233
00:13:16,320 --> 00:13:18,880
There it is!
234
00:13:18,880 --> 00:13:20,720
It's amazing.
235
00:13:20,720 --> 00:13:22,240
This is very...
236
00:13:23,360 --> 00:13:26,640
..very glamorous. It's a wow.
237
00:13:26,640 --> 00:13:28,320
And it's no surprise.
238
00:13:28,320 --> 00:13:31,240
The two gold dresses
may both look the part,
239
00:13:31,240 --> 00:13:34,200
but this one is ten times the price.
240
00:13:34,200 --> 00:13:37,800
This dress, it's 16,000 euros.
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00:13:37,800 --> 00:13:39,960
One six zero zero zero.
242
00:13:42,080 --> 00:13:44,160
Wow, wow, wow, wow!
243
00:13:44,160 --> 00:13:47,680
It's very difficult for me
to make the decision,
244
00:13:47,680 --> 00:13:51,480
because I love, er, both,
245
00:13:51,480 --> 00:13:54,160
so I have to think about.
246
00:13:54,160 --> 00:13:57,600
But, er, one night,
good sleep and it's OK.
247
00:14:01,200 --> 00:14:04,640
At the harbour,
it's the climax to Yacht Week,
248
00:14:04,640 --> 00:14:06,640
the prize-giving ceremony.
249
00:14:06,640 --> 00:14:08,120
Ladies and gentlemen,
250
00:14:08,120 --> 00:14:11,040
welcome to the Monaco Classic Week
Official Prize-Giving.
251
00:14:11,040 --> 00:14:14,480
Yacht crews gather expectantly
to hear the judges' verdicts,
252
00:14:14,480 --> 00:14:17,000
and Prince Albert will be arriving
253
00:14:17,000 --> 00:14:19,760
to present the awards
to the winners.
254
00:14:19,760 --> 00:14:22,160
So, have you made your decisions?
255
00:14:22,160 --> 00:14:25,280
Yes, we made all the decisions
yesterday.
256
00:14:25,280 --> 00:14:28,640
The quality of the boats was
absolutely fantastic this year.
257
00:14:28,640 --> 00:14:30,040
A very good year.
258
00:14:30,040 --> 00:14:31,560
And you haven't told anybody yet?
259
00:14:31,560 --> 00:14:32,600
Nope.
260
00:14:32,600 --> 00:14:35,160
And I'm not going to tell you now!
261
00:14:35,160 --> 00:14:37,960
Right now,
we are waiting for the Prince.
262
00:14:37,960 --> 00:14:42,000
Here, nothing can start
before the Prince is here.
263
00:14:43,560 --> 00:14:45,520
Ladies and gentlemen,
please stand to welcome
264
00:14:45,520 --> 00:14:48,320
the President of our Yacht Club,
and Monaco's Serene Highness,
265
00:14:48,320 --> 00:14:49,680
Prince Albert II of Monaco.
266
00:14:58,640 --> 00:15:02,240
After the main prizes are given out,
267
00:15:02,240 --> 00:15:06,080
it's time to announce the winner
of the Elegance competition.
268
00:15:13,440 --> 00:15:17,480
Judges were won over by
the exceptional presentation
269
00:15:17,480 --> 00:15:20,680
of the 100-year-old yacht
Oriole from the USA.
270
00:15:24,840 --> 00:15:26,960
With the prize-giving complete,
271
00:15:26,960 --> 00:15:30,760
all that remains for Prince Albert,
as Yacht Club President,
272
00:15:30,760 --> 00:15:34,440
is to congratulate
some of the victors.
273
00:15:34,440 --> 00:15:36,840
No, please, er,
274
00:15:36,840 --> 00:15:39,440
carry on without me. That's fine.
275
00:15:39,440 --> 00:15:41,200
So who have I not met?
276
00:15:41,200 --> 00:15:43,920
Oh, Spencer Verney.
Nice to meet you.
277
00:15:43,920 --> 00:15:46,480
And this group
of enthusiastic Americans
278
00:15:46,480 --> 00:15:49,960
from the Nantucket Yacht Club
have sailed halfway across the world
279
00:15:49,960 --> 00:15:51,160
to be here.
280
00:15:51,160 --> 00:15:53,680
May I present you with a history
of the Nantucket Yacht Club?
281
00:15:53,680 --> 00:15:55,280
That's fantastic.
282
00:15:55,280 --> 00:15:57,640
Since 1906?
283
00:15:57,640 --> 00:15:59,040
1906. It's been around.
284
00:15:59,040 --> 00:16:00,680
And this is a small burgee.
285
00:16:00,680 --> 00:16:02,840
Oh, thank you so much.
We're glad you appreciate it.
286
00:16:02,840 --> 00:16:05,640
Thank you so much.
It was wonderful to have you.
287
00:16:05,640 --> 00:16:07,480
Yeah!
288
00:16:16,520 --> 00:16:19,680
Classic Yacht Week
may be drawing to a close,
289
00:16:19,680 --> 00:16:21,000
but for its visitors,
290
00:16:21,000 --> 00:16:24,680
there is still time to have
a few more glasses of champagne
291
00:16:24,680 --> 00:16:25,720
and celebrate...
292
00:16:27,400 --> 00:16:30,320
..before embarking
on the long journey home.
293
00:16:39,240 --> 00:16:42,920
Yacht Week may be all about
elegance and style,
294
00:16:42,920 --> 00:16:46,760
but in a country that seems to have
as many dogs as children,
295
00:16:46,760 --> 00:16:50,800
even the residents' canine
companions come dressed to impress.
296
00:16:54,120 --> 00:16:55,440
Welcome.
297
00:16:55,440 --> 00:16:59,320
Marilisa opened her top-end
dog boutique five years ago.
298
00:17:00,720 --> 00:17:02,920
We have collars here.
299
00:17:02,920 --> 00:17:05,120
We start from the 25 centimetre size
300
00:17:05,120 --> 00:17:09,520
so the smallest size
for a small Chihuahua, 1.5kg.
301
00:17:09,520 --> 00:17:11,560
Our most popular collar?
302
00:17:11,560 --> 00:17:14,360
Full of diamonds, like this.
303
00:17:14,360 --> 00:17:16,520
It's not really diamond,
it's Swarovski.
304
00:17:16,520 --> 00:17:18,120
It's like jewellery.
305
00:17:19,280 --> 00:17:21,360
These are toys for dogs.
306
00:17:21,360 --> 00:17:26,480
The most popular toys are the bone,
with Chewy Vuitton written.
307
00:17:26,480 --> 00:17:29,320
The customer normally spends
100 euros for toys.
308
00:17:31,240 --> 00:17:32,960
We have also treats for dogs.
309
00:17:32,960 --> 00:17:34,720
They are home-made in Italy.
310
00:17:34,720 --> 00:17:37,240
We have beef, salmon, chicken,
311
00:17:37,240 --> 00:17:39,320
vanilla and green apple.
312
00:17:39,320 --> 00:17:41,560
We have also popcorn,
313
00:17:41,560 --> 00:17:44,800
with bresaola inside, or Parmesan,
314
00:17:44,800 --> 00:17:49,080
and we have the cake with the happy
birthday with the candle inside,
315
00:17:49,080 --> 00:17:51,240
and we have champagne.
316
00:17:51,240 --> 00:17:53,480
It's not really champagne,
it's only a joke.
317
00:17:53,480 --> 00:17:54,840
It's chienpagne.
318
00:17:56,480 --> 00:17:57,560
Good boy!
319
00:18:00,920 --> 00:18:03,720
Shop assistant Korean-born Jubeen
320
00:18:03,720 --> 00:18:06,200
has worked here
for the last three years,
321
00:18:06,200 --> 00:18:10,840
but moving to Monaco was never
part of her plans.
322
00:18:10,840 --> 00:18:15,000
My boyfriend is Monegasque,
323
00:18:15,000 --> 00:18:17,080
and we were living
in Australia before.
324
00:18:17,080 --> 00:18:19,160
I met him in Australia.
325
00:18:19,160 --> 00:18:21,920
But he has a really bad knee injury.
326
00:18:21,920 --> 00:18:28,520
So we had to come back for
the doctors and everything for him.
327
00:18:29,640 --> 00:18:33,240
Jubeen enjoys pampering
these privileged pooches,
328
00:18:33,240 --> 00:18:37,040
but has found it's the people
here that are the hardest work.
329
00:18:37,040 --> 00:18:41,000
First time I moved to Monaco,
I hated it because I've met
330
00:18:41,000 --> 00:18:43,400
some horrible people.
331
00:18:43,400 --> 00:18:46,480
For example, when you go
to a restaurant.
332
00:18:46,480 --> 00:18:48,200
I'm a normal person.
333
00:18:48,200 --> 00:18:50,440
I don't have big money or nothing.
334
00:18:50,440 --> 00:18:53,480
I just went to have dinner
and then I didn't really
335
00:18:53,480 --> 00:18:55,280
get good service.
336
00:18:55,280 --> 00:19:00,120
But then right next to my table,
the lady with, you know,
337
00:19:00,120 --> 00:19:03,600
you can tell with the Chanel bags
and everything.
338
00:19:03,600 --> 00:19:07,000
The waitresses tend to be nicer.
339
00:19:07,000 --> 00:19:10,160
I think some people,
they see the money first.
340
00:19:10,160 --> 00:19:14,360
I didn't really like living
in Monaco because of these things.
341
00:19:14,360 --> 00:19:17,800
Jubeen may have found it hard
to acclimatise,
342
00:19:17,800 --> 00:19:20,480
but life is very different here,
343
00:19:20,480 --> 00:19:24,680
if, like her partner, you're one
of the 8,000 Monaco citizens,
344
00:19:24,680 --> 00:19:26,520
or Monegasque,
345
00:19:26,520 --> 00:19:30,120
who have long been financially
supported by the state.
346
00:19:30,120 --> 00:19:33,880
With 120 nationalities
jostling for space
347
00:19:33,880 --> 00:19:37,200
in this tiny but exclusive
enclave,
348
00:19:37,200 --> 00:19:40,640
the price of property
in Monaco has skyrocketed.
349
00:19:40,640 --> 00:19:43,560
So to protect its citizens,
350
00:19:43,560 --> 00:19:47,480
the state has stepped in to provide
subsidised rent and other
351
00:19:47,480 --> 00:19:50,080
advantages, such as free health
care.
352
00:19:50,080 --> 00:19:53,640
It's always been the feature
of the Principality of Monaco
353
00:19:53,640 --> 00:19:57,440
to have a small national population,
354
00:19:57,440 --> 00:20:01,040
but it's really part of our make-up
and part of what we are.
355
00:20:01,040 --> 00:20:03,680
Monegasques are in minority
in their own country,
356
00:20:03,680 --> 00:20:06,720
but we live in perfect harmony
with all the other nationalities
357
00:20:06,720 --> 00:20:08,560
that call Monaco their home.
358
00:20:11,320 --> 00:20:14,520
Osteopath Thomas has
a Monegasque father,
359
00:20:14,520 --> 00:20:16,960
so he's been a citizen from birth.
360
00:20:16,960 --> 00:20:21,760
So you have the harbour here
with the big part of the F1 track,
361
00:20:21,760 --> 00:20:23,920
you have the swimming pool.
362
00:20:23,920 --> 00:20:26,600
Overlooking this
you have the old town
363
00:20:26,600 --> 00:20:28,840
and you can see the palace
actually.
364
00:20:28,840 --> 00:20:30,640
With a baby on the way,
365
00:20:30,640 --> 00:20:33,880
he and his partner Tatev
from Armenia have recently moved
366
00:20:33,880 --> 00:20:38,440
into a new apartment, which
has a view that many would envy.
367
00:20:38,440 --> 00:20:41,840
If you go this way, you have maybe
one or two streets of Monaco
368
00:20:41,840 --> 00:20:44,240
and then it's only France.
Beausoleil.
369
00:20:44,240 --> 00:20:46,960
Some people really love the sea.
370
00:20:46,960 --> 00:20:49,240
For me, I don't care.
371
00:20:49,240 --> 00:20:52,520
I come from mountains
so to have this piece of mountain
372
00:20:52,520 --> 00:20:54,120
in front of me,
373
00:20:54,120 --> 00:20:56,640
I'm very happy because it reminds me
my country, right?
374
00:20:56,640 --> 00:20:59,800
You have both now.
Yeah, and now we have like, both.
375
00:20:59,800 --> 00:21:01,440
I mean, it's like, perfect.
376
00:21:02,960 --> 00:21:08,640
The average property in Monaco costs
around £45,000 per square metre,
377
00:21:08,640 --> 00:21:11,120
which is twice as much
as a flat in Mayfair,
378
00:21:11,120 --> 00:21:14,440
one of the most exclusive
parts of London.
379
00:21:14,440 --> 00:21:18,720
Here we prepared for the beginning
of our little baby.
380
00:21:18,720 --> 00:21:21,280
Because Thomas is a citizen,
381
00:21:21,280 --> 00:21:24,200
he and Tatev pay less
than a third of the market value
382
00:21:24,200 --> 00:21:27,440
to rent this apartment and the state
pays the rest.
383
00:21:27,440 --> 00:21:31,320
The state protects the
Monegasque citizens
384
00:21:31,320 --> 00:21:34,120
because the prices of the real
estate went crazy.
385
00:21:34,120 --> 00:21:37,960
There is flats that belong
to the state that are only
386
00:21:37,960 --> 00:21:42,000
or mainly for Monegasque with
rents that are controlled
387
00:21:42,000 --> 00:21:45,080
by the government, which are
reasonable.
388
00:21:45,080 --> 00:21:51,360
And then you have the possibility
of renting in the private sector.
389
00:21:51,360 --> 00:21:55,640
This is private and then we receive
help from the government.
390
00:21:55,640 --> 00:21:58,600
A subsidy?
Exactly. Yes, yes.
391
00:21:58,600 --> 00:22:03,880
So we have to tell them how much
we earn and they will make sure
392
00:22:03,880 --> 00:22:08,080
that the rent is not more
than a third of our income.
393
00:22:08,080 --> 00:22:12,640
When Thomas and Tatev's son
is born, as a Monegasque,
394
00:22:12,640 --> 00:22:16,400
he'll be granted all of the benefits
that come with being a citizen.
395
00:22:16,400 --> 00:22:18,800
If you're Monegasque,
you will have a flat.
396
00:22:18,800 --> 00:22:20,960
You have a priority for jobs.
397
00:22:20,960 --> 00:22:23,640
So if you know you have this
security, you can travel
398
00:22:23,640 --> 00:22:25,520
with your free mind.
399
00:22:25,520 --> 00:22:28,800
And I would be very proud
if he could study abroad,
400
00:22:28,800 --> 00:22:32,520
live and work abroad and maybe
come back later in Monaco
401
00:22:32,520 --> 00:22:37,240
to bring his everything he learnt
outside of Monaco and bring it back
402
00:22:37,240 --> 00:22:39,000
to the principality.
403
00:22:39,000 --> 00:22:41,320
You always have a country
that will welcome you.
404
00:22:41,320 --> 00:22:42,880
So use it.
405
00:22:42,880 --> 00:22:44,840
It is a big luxury to have this.
406
00:22:44,840 --> 00:22:49,120
But it's a status that's only
afforded to a select few.
407
00:22:49,120 --> 00:22:54,000
The easiest ways to become a citizen
are by birth or by marriage,
408
00:22:54,000 --> 00:22:57,160
but you'd have to be married
to a Monegasque for ten years
409
00:22:57,160 --> 00:23:00,040
before you'd even be eligible.
410
00:23:00,040 --> 00:23:03,920
Increasing pressure on the country's
resources means that citizenship
411
00:23:03,920 --> 00:23:07,400
rules are about to become
even tighter.
412
00:23:07,400 --> 00:23:13,120
We are about to enter discussions
on extending the time period
413
00:23:13,120 --> 00:23:15,880
from ten to 20 years
414
00:23:15,880 --> 00:23:19,360
to automatically become
a Monegasque by marriage.
415
00:23:19,360 --> 00:23:23,040
That's because if we continue in
this way, we will have an increase
416
00:23:23,040 --> 00:23:26,840
in population that will simply
be unsustainable for us
417
00:23:26,840 --> 00:23:31,600
in terms of providing housing,
providing job opportunities.
418
00:23:31,600 --> 00:23:35,920
There is one other route to
citizenship, but its success rate
419
00:23:35,920 --> 00:23:38,680
is so slim that few people
even apply.
420
00:23:39,760 --> 00:23:42,760
The other process is, of course,
naturalisation.
421
00:23:42,760 --> 00:23:47,240
There are roughly between 100
and 150 demands
422
00:23:47,240 --> 00:23:49,560
for Monegasque citizenship
423
00:23:49,560 --> 00:23:54,320
every year and only about 20%
are accepted.
424
00:23:57,600 --> 00:23:59,440
For the country's majority,
425
00:23:59,440 --> 00:24:04,480
buying a property here means
paying the full market rate.
426
00:24:04,480 --> 00:24:09,360
But even a studio flat costs
around £1 million, so many people
427
00:24:09,360 --> 00:24:13,440
are forced to rent like painter
and photographer David,
428
00:24:13,440 --> 00:24:16,840
who has been living in Monaco
for the last ten years.
429
00:24:16,840 --> 00:24:21,040
This space is actually 24
Including this bit?
430
00:24:21,040 --> 00:24:23,600
Including the bathroom, everything.
431
00:24:23,600 --> 00:24:26,800
It includes also the external walls,
432
00:24:26,800 --> 00:24:28,600
I was told.
433
00:24:28,600 --> 00:24:32,160
That's less than the size of
two car parking spaces.
434
00:24:32,160 --> 00:24:34,520
To make the space work,
435
00:24:34,520 --> 00:24:37,520
I had to actually put things
on wheels.
436
00:24:37,520 --> 00:24:41,840
So this serves as my coffee table.
437
00:24:41,840 --> 00:24:46,360
60 shirts fit in there.
It's very neat!
438
00:24:46,360 --> 00:24:49,320
And it's like living in a boat,
it really is.
439
00:24:49,320 --> 00:24:51,000
Normally, if I'm home alone...
440
00:24:53,960 --> 00:24:57,040
When I'm home alone,
it's placed here.
441
00:24:57,040 --> 00:24:59,120
And here is where I work out.
442
00:24:59,120 --> 00:25:02,960
I actually use this as part
of my training
443
00:25:02,960 --> 00:25:05,720
so I've maximised the space.
444
00:25:07,040 --> 00:25:11,120
This apartment is situated
in the centre of the principality
445
00:25:11,120 --> 00:25:15,560
and we happen to be in the frontier
just right across the street
446
00:25:15,560 --> 00:25:16,880
from France.
447
00:25:16,880 --> 00:25:18,720
So France is across the street?
448
00:25:18,720 --> 00:25:23,320
Indeed, I cross the street
and it's France.
449
00:25:23,320 --> 00:25:26,480
But a Monaco address
comes at a premium.
450
00:25:26,480 --> 00:25:31,440
David's tiny studio costs £1,300
a month, where just a few metres
451
00:25:31,440 --> 00:25:35,400
away in France,
it would be a third of the price.
452
00:25:35,400 --> 00:25:40,200
But like anyone officially
resident in Monaco,
453
00:25:40,200 --> 00:25:43,600
David doesn't pay income tax,
which somewhat softens the blow.
454
00:25:43,600 --> 00:25:49,840
It might seem a bit excessive,
but it's a very safe country.
455
00:25:49,840 --> 00:25:51,680
It's very clean.
456
00:25:51,680 --> 00:25:54,960
It's very... it's very peaceful.
457
00:25:54,960 --> 00:25:58,840
And everything functions.
458
00:25:58,840 --> 00:26:00,880
I live like a king.
459
00:26:00,880 --> 00:26:04,040
Upstairs is the bedroom
460
00:26:04,040 --> 00:26:07,080
or half bedroom and
half office space.
461
00:26:07,080 --> 00:26:12,080
This bed actually opens up
and it becomes double size,
462
00:26:12,080 --> 00:26:15,320
if I should have friends over,
which I have had,
463
00:26:15,320 --> 00:26:17,920
and here is my working space.
464
00:26:17,920 --> 00:26:21,840
You don't feel like you're
in 24 square metres.
465
00:26:21,840 --> 00:26:25,480
Actually, it's 24 square metres
with this mezzanine, adding...
466
00:26:25,480 --> 00:26:28,120
No, it's 20...
It's 24, including this.
467
00:26:28,120 --> 00:26:29,760
So it's really...
468
00:26:29,760 --> 00:26:31,400
It's very small.
469
00:26:31,400 --> 00:26:35,800
It's so small that my head touches.
470
00:26:35,800 --> 00:26:39,680
So I have to kind of like,
you know, walk hunched.
471
00:26:39,680 --> 00:26:40,960
But it works.
472
00:26:40,960 --> 00:26:42,920
That's the price of living
It is.
473
00:26:45,800 --> 00:26:50,360
But the cost of living is so high
here that many of those who work
474
00:26:50,360 --> 00:26:52,840
in Monaco can't afford
to live here at all.
475
00:26:54,720 --> 00:26:59,640
Street cleaner Miragi works in the
Palace Square and travels every day
476
00:26:59,640 --> 00:27:03,600
from his home in the neighbouring
French town of Cap-d'Ail.
477
00:27:13,080 --> 00:27:16,280
Miragi may not be able
to afford to live here,
478
00:27:16,280 --> 00:27:19,000
but he's paid considerably more
in Monaco
479
00:27:19,000 --> 00:27:21,200
than he would be across the border.
480
00:27:36,840 --> 00:27:38,960
Like Miragi,
481
00:27:38,960 --> 00:27:43,240
every day, thousands of workers
cross the French border,
482
00:27:43,240 --> 00:27:46,720
attracted by job opportunities
and higher wages.
483
00:27:50,440 --> 00:27:54,880
Arriving at Monaco's Opera House,
Brazilian-born Alexis
484
00:27:54,880 --> 00:27:58,720
and his brother George
are two of the daily commuters.
485
00:28:02,360 --> 00:28:06,480
The brothers are both dancers for
Monaco's National Ballet Company
486
00:28:06,480 --> 00:28:10,040
and travel to the Opera House
from France every day
487
00:28:10,040 --> 00:28:12,080
to rehearse for a new performance.
488
00:28:21,040 --> 00:28:25,360
I actually live
in Beausoleil, which is quite close.
489
00:28:25,360 --> 00:28:28,880
Never Monaco,
it's too expensive!
490
00:28:28,880 --> 00:28:32,240
It's too expensive. I mean...
491
00:28:32,240 --> 00:28:33,600
It doesn't really...
492
00:28:35,240 --> 00:28:37,560
There is no point for us.
I think there's no point.
493
00:28:37,560 --> 00:28:40,440
Either you're really, like,
a billionaire or a millionaire,
494
00:28:40,440 --> 00:28:43,960
you know, that you can live
there and can afford to
495
00:28:43,960 --> 00:28:46,520
live the Monegasque life
496
00:28:46,520 --> 00:28:49,320
or it's not... it's not...
It's pointless.
497
00:28:49,320 --> 00:28:53,040
No, it's not a
We're the real life people!
498
00:28:53,040 --> 00:28:56,400
We do have good salaries,
but it's just...
499
00:28:56,400 --> 00:28:59,640
The amount of money you pay for rent
500
00:28:59,640 --> 00:29:01,680
or even if... I mean,
we could not buy...
501
00:29:01,680 --> 00:29:04,280
If we both bought
houses...apartments in Beausoleil...
502
00:29:04,280 --> 00:29:06,600
That would be impossible.
503
00:29:06,600 --> 00:29:09,080
Literally impossible
in Monaco, so...
504
00:29:09,080 --> 00:29:12,080
Our view is like the whole Monaco
and the sea, you know,
505
00:29:12,080 --> 00:29:16,840
so we still a little bit of Monaco
in a way, you know, so...
506
00:29:27,840 --> 00:29:31,640
Half a mile away, Thomas and Tatev
have just brought their own
507
00:29:31,640 --> 00:29:35,440
little piece of Monaco home -
a new baby son named Alek.
508
00:29:36,960 --> 00:29:40,520
He's incredible. He's like a
little old man.
509
00:29:40,520 --> 00:29:44,880
He's not like a baby baby, he's,
like, expressive. He's funny.
510
00:29:44,880 --> 00:29:47,600
I don't know... And he's crying now!
511
00:29:56,240 --> 00:30:01,400
Alek is one of only a hundred or so
Monaco citizens born each year.
512
00:30:01,400 --> 00:30:03,840
Being Monegasque, it's rare.
513
00:30:03,840 --> 00:30:06,960
I'm very happy
he has this beginning.
514
00:30:06,960 --> 00:30:10,960
It's very nice to go to adventure,
but it's very nice to start the life
515
00:30:10,960 --> 00:30:14,320
with some comfort in a nice way,
you know,
516
00:30:14,320 --> 00:30:17,440
just to be in a nice,
beautiful place.
517
00:30:17,440 --> 00:30:20,120
And then you're open to the world.
518
00:30:21,640 --> 00:30:27,360
I would say we added maybe
a 0.1% of the Monegasque population.
519
00:30:27,360 --> 00:30:31,480
I have to do the math again,
but it's quite important.
520
00:30:32,680 --> 00:30:34,320
Precious baby.
521
00:30:34,320 --> 00:30:36,520
It's kind of a treasure, right?
522
00:30:38,120 --> 00:30:43,320
Monaco's attractions, financial or
otherwise, mean that Monegasques,
523
00:30:43,320 --> 00:30:48,400
migrant workers and millionaires
all squeeze into an area of land
524
00:30:48,400 --> 00:30:50,800
50 times smaller than Manchester.
525
00:30:51,880 --> 00:30:56,880
With 19,000 inhabitants per square
kilometre, this is the most densely
526
00:30:56,880 --> 00:31:00,040
populated sovereign state
in the world.
527
00:31:00,040 --> 00:31:05,480
Space is at a premium, as it was in
the 1970s, when Prince Rainier,
528
00:31:05,480 --> 00:31:09,480
known as the Builder Prince,
sanctioned a land expansion
529
00:31:09,480 --> 00:31:11,480
into the Mediterranean.
530
00:31:11,480 --> 00:31:15,160
By reclaiming land from the sea
and building on it,
531
00:31:15,160 --> 00:31:18,680
the Fontvieille the district in the
west of the country was created.
532
00:31:20,200 --> 00:31:24,880
Since then, Monaco's population
has risen by almost 50%
533
00:31:24,880 --> 00:31:27,360
to 38,000 people.
534
00:31:27,360 --> 00:31:30,720
And today, Prince Albert is
following in his father's
535
00:31:30,720 --> 00:31:35,640
footsteps by overseeing another
major land reclamation project.
536
00:31:43,080 --> 00:31:46,000
We did a quick projection
of our future needs
537
00:31:46,000 --> 00:31:47,600
in terms of private housing
538
00:31:47,600 --> 00:31:54,840
and it became clear that where
the land extension is happening now
539
00:31:54,840 --> 00:31:59,800
was the only place on our
waterfront that could accommodate
540
00:31:59,800 --> 00:32:01,400
such an extension.
541
00:32:01,400 --> 00:32:06,800
This controversial 2-billion-euro
development of luxury apartments
542
00:32:06,800 --> 00:32:11,520
and exclusive villas is due
to be completed in 2025
543
00:32:11,520 --> 00:32:14,800
and will increase the
country's size by 3%.
544
00:32:14,800 --> 00:32:16,800
We do have a lot of demand,
545
00:32:16,800 --> 00:32:19,080
mostly for a waterfront view
apartments
546
00:32:19,080 --> 00:32:21,240
and so, this answers that need.
547
00:32:21,240 --> 00:32:26,120
It also provides a wonderful public
space area for everybody to enjoy.
548
00:32:27,200 --> 00:32:31,680
To create the artificial land is a
huge feat of engineering,
549
00:32:31,680 --> 00:32:36,520
costing 900 million euros for the
extension alone.
550
00:32:36,520 --> 00:32:41,120
Huge blocks of concrete, known
as caissons, are filled with sand
551
00:32:41,120 --> 00:32:42,880
and sunk to the seabed.
552
00:32:43,880 --> 00:32:48,320
Locked together, they form a large
sea barrier and the resulting
553
00:32:48,320 --> 00:32:51,840
basin is filled in, forming a
new tract of land
554
00:32:51,840 --> 00:32:53,440
reclaimed from the sea.
555
00:32:55,480 --> 00:33:00,520
After more than two years of hard
graft, this phase of Prince Albert's
556
00:33:00,520 --> 00:33:03,720
six-hectare land extension
is nearing completion.
557
00:33:05,040 --> 00:33:08,120
Tugboat captain David
has been working on the project
558
00:33:08,120 --> 00:33:09,960
for the last year.
559
00:33:09,960 --> 00:33:13,200
I live in North
Shields on the northeast coast.
560
00:33:13,200 --> 00:33:16,040
And where are you staying now?
Oh, we live on board.
561
00:33:16,040 --> 00:33:18,760
Yeah, we have...
We all have our own cabins,
562
00:33:18,760 --> 00:33:21,000
we have air conditioning,
television, Sky telly.
563
00:33:21,000 --> 00:33:24,560
It's like a home from home.
What do you make of Monaco?
564
00:33:24,560 --> 00:33:28,960
It's...OK. It's nice.
I mean, the people are lovely.
565
00:33:28,960 --> 00:33:30,000
It's...it's...
566
00:33:31,600 --> 00:33:33,240
I couldn't spend my money here!
567
00:33:34,480 --> 00:33:36,760
What do you mean?
Well, it's not cheap.
568
00:33:36,760 --> 00:33:39,640
It's... I think it's a bit
of a millionaire's playground.
569
00:33:41,040 --> 00:33:46,360
17 of these 10,000-tonne structures
have already been fixed in place
570
00:33:46,360 --> 00:33:49,840
and this morning, David and
Jean-Pierre are coordinating
571
00:33:49,840 --> 00:33:53,080
the arrival of the final caisson,
which has been towed
572
00:33:53,080 --> 00:33:55,800
over 100 miles from Marseille.
573
00:34:18,520 --> 00:34:20,480
It's a complex operation.
574
00:34:20,480 --> 00:34:27,360
This caisson is 35 metres wide and
extends 20 metres below sea level.
575
00:34:32,400 --> 00:34:34,840
D'accord.
576
00:34:36,760 --> 00:34:38,960
Is there a small margin of error?
577
00:34:38,960 --> 00:34:42,680
Of course, yes. The target is
very...
578
00:34:42,680 --> 00:34:46,160
..short, OK? We have approximately
five centimetres.
579
00:34:48,240 --> 00:34:49,880
The target is very precise.
580
00:34:52,720 --> 00:34:55,320
Concentration is very important,
so...
581
00:35:02,040 --> 00:35:05,160
While the land extension
will eventually provide
582
00:35:05,160 --> 00:35:08,920
new properties for a select few,
just across the road,
583
00:35:08,920 --> 00:35:12,080
existing buildings are also
being renovated
584
00:35:12,080 --> 00:35:15,640
to meet ever-increasing demand
for luxury homes.
585
00:35:15,640 --> 00:35:20,640
Graham, originally
from Merseyside, spent 33 years
586
00:35:20,640 --> 00:35:25,880
in the toy manufacturing business
and retired to Monaco six years ago.
587
00:35:25,880 --> 00:35:28,000
As you can see,
we have the lounge here
588
00:35:28,000 --> 00:35:32,640
and a focal point of this apartment
when you walk in is this wine cave,
589
00:35:32,640 --> 00:35:34,280
which is quite unique.
590
00:35:34,280 --> 00:35:38,320
In Monaco, a lot of people put the
kitchens in the lounge,
591
00:35:38,320 --> 00:35:39,920
but I've done something different -
592
00:35:39,920 --> 00:35:42,720
I've got tinted, opening,
sliding doors.
593
00:35:42,720 --> 00:35:46,640
If he seems to be selling the place,
it's because he is!
594
00:35:46,640 --> 00:35:49,280
If you don't want to drink wine,
we have another bar...
595
00:35:50,680 --> 00:35:52,800
..so you feel at home here.
596
00:35:52,800 --> 00:35:56,480
Since retiring, Graham
has been buying, refurbishing
597
00:35:56,480 --> 00:35:58,520
and selling luxury properties.
598
00:35:58,520 --> 00:36:00,480
That's quite amazing.
599
00:36:00,480 --> 00:36:03,600
He currently has five up for sale,
including this one.
600
00:36:05,640 --> 00:36:07,640
We walk out onto the terrace
601
00:36:07,640 --> 00:36:11,640
and this is an amazing
and a very exclusive view.
602
00:36:11,640 --> 00:36:14,080
This is called
the Carre d'Or area, here.
603
00:36:14,080 --> 00:36:16,520
It's the Mayfair-Chelsea of Monaco.
604
00:36:16,520 --> 00:36:20,400
You see the casino,
the new Hotel de Paris
605
00:36:20,400 --> 00:36:24,000
and also, I haven't mentioned it's
an amazing view of the Grand Prix.
606
00:36:25,000 --> 00:36:27,960
You see them coming around
the corner here. It's amazing.
607
00:36:27,960 --> 00:36:30,200
This two-bedroom one
that we're in now...
608
00:36:30,200 --> 00:36:32,280
How much is it on sale for?
609
00:36:32,280 --> 00:36:34,760
It's on the market for...
610
00:36:34,760 --> 00:36:38,280
19 million, including the car parks.
611
00:36:38,280 --> 00:36:40,680
The car parks here are worth
a lot of money.
612
00:36:40,680 --> 00:36:42,760
Is there a discount if they
don't want the car park?
613
00:36:42,760 --> 00:36:44,320
Yeah, they get a discount, yeah.
614
00:36:44,320 --> 00:36:49,640
The car parks are worth circa
450,000 to 900,000,
615
00:36:49,640 --> 00:36:50,880
depending on how big they are.
616
00:36:50,880 --> 00:36:54,440
And this apartment isn't Graham's
only one in the block.
617
00:36:54,440 --> 00:36:58,960
He also owns the smaller flat next
door and he's offering buyers
618
00:36:58,960 --> 00:37:02,440
the option to create a spacious
four-bed residence
619
00:37:02,440 --> 00:37:04,640
if their bank balance is big enough.
620
00:37:04,640 --> 00:37:08,440
If the client wants to buy the
two apartments, I'm selling
621
00:37:08,440 --> 00:37:12,840
those for 29.9 million, which is
under 100,000 a square metre,
622
00:37:12,840 --> 00:37:15,960
which is very reasonable for one
of the best buildings in Monaco.
623
00:37:16,960 --> 00:37:18,560
A lot of people would buy this,
624
00:37:18,560 --> 00:37:20,520
they'll come here for the
odd weekend.
625
00:37:20,520 --> 00:37:22,360
They may not even have Monaco
residency.
626
00:37:22,360 --> 00:37:23,840
It's a good investment here.
627
00:37:23,840 --> 00:37:26,600
You're pretty sure that property
in Monaco is a pretty safe bet.
628
00:37:27,640 --> 00:37:29,120
It's reasonably safe, yeah.
629
00:37:29,120 --> 00:37:31,640
I mean, people are not going to lose
50% or lose their shirt
630
00:37:31,640 --> 00:37:33,120
like you do on the money markets.
631
00:37:33,120 --> 00:37:36,520
Have you had much...?
I've had I've had a few offers, yes.
632
00:37:36,520 --> 00:37:37,720
I've had offers.
633
00:37:37,720 --> 00:37:41,720
But the spectacular sea views
are currently being interrupted
634
00:37:41,720 --> 00:37:44,440
by Monaco's biggest building site -
635
00:37:44,440 --> 00:37:48,520
the new land extension project,
17 floors below.
636
00:37:49,520 --> 00:37:51,440
Not that that fazes Graham.
637
00:37:51,440 --> 00:37:55,800
There's going to be apartments
going up to 12 storeys.
638
00:37:55,800 --> 00:37:58,480
So the view from this apartment
is not going to be a blocked.
639
00:37:58,480 --> 00:38:00,320
Really? Are you sure about that?
640
00:38:00,320 --> 00:38:01,800
I'm sure of that, yes, yes.
641
00:38:01,800 --> 00:38:05,240
What about the noise?
Isn't that an issue?
642
00:38:05,240 --> 00:38:08,480
It's an issue anywhere.
We're in Monaco, you know.
643
00:38:08,480 --> 00:38:10,600
All the hard work has been done
Uh-huh...
644
00:38:11,600 --> 00:38:13,840
They're just going to be
building up.
645
00:38:13,840 --> 00:38:15,320
You're a very good salesman!
646
00:38:16,800 --> 00:38:18,960
I don't like to say too much,
you know!
647
00:38:21,320 --> 00:38:25,040
Monaco's insatiable appetite
for luxury living
648
00:38:25,040 --> 00:38:27,520
is one that goes back generations.
649
00:38:27,520 --> 00:38:31,080
And while Prince Albert
continues his father's legacy
650
00:38:31,080 --> 00:38:35,200
by investing in bricks and mortar,
the demand from the country's
651
00:38:35,200 --> 00:38:39,440
residents for a life rich
with culture is being fulfilled
652
00:38:39,440 --> 00:38:42,080
by his sister, Princess Caroline.
653
00:38:42,080 --> 00:38:44,200
Caroline is the eldest child
654
00:38:44,200 --> 00:38:48,040
of Prince Rainier and Princess
Grace and was a keen ballet dancer
655
00:38:48,040 --> 00:38:49,800
in her formative years.
656
00:38:50,800 --> 00:38:54,480
Like her late mother, the princess
has a passion for the arts,
657
00:38:54,480 --> 00:38:58,080
becoming a patron of Monaco's
orchestra and opera.
658
00:38:59,120 --> 00:39:04,120
And in 1985, at the age
of 28, Caroline re-established
659
00:39:04,120 --> 00:39:08,200
Monaco's National Ballet Company -
Les Ballets de Monte Carlo.
660
00:39:17,640 --> 00:39:21,560
Today, the ballet company
still performs at the Opera House,
661
00:39:21,560 --> 00:39:25,640
built in 1893, next to the
casino in the centre
662
00:39:25,640 --> 00:39:27,240
of the Monte Carlo district.
663
00:39:29,440 --> 00:39:33,160
The former dancer
Jean-Christophe Maillot has been
664
00:39:33,160 --> 00:39:37,560
the ballet's director and
choreographer since 1992.
665
00:39:37,560 --> 00:39:40,280
That's where I have my computer,
I have my...
666
00:39:42,160 --> 00:39:45,680
..little maquette where I can work
on my new creations
667
00:39:45,680 --> 00:39:47,640
so I can actually see the stage
668
00:39:47,640 --> 00:39:50,640
and imagine how I'm going
to organise the whole thing.
669
00:39:51,800 --> 00:39:56,520
The Prince and, of course, I have
my dear Princess Caroline here.
670
00:39:56,520 --> 00:39:58,280
Tell me about the princess.
671
00:39:59,600 --> 00:40:01,280
Oh, the princess? What can I say?
672
00:40:01,280 --> 00:40:03,760
I mean, without her, the company
wouldn't exist.
673
00:40:03,760 --> 00:40:08,600
It's really her will, in the memory
of her mother, the Princess Grace,
674
00:40:08,600 --> 00:40:11,400
that she rebuild the company.
675
00:40:14,600 --> 00:40:17,560
Princess Grace established
a fledgling dance school
676
00:40:17,560 --> 00:40:19,280
in her final years.
677
00:40:19,280 --> 00:40:23,120
But it wasn't until her daughter
Caroline revived it three years
678
00:40:23,120 --> 00:40:25,880
after Grace's death that the ballet
began to go
679
00:40:25,880 --> 00:40:27,560
from strength to strength.
680
00:40:30,960 --> 00:40:36,200
35 years later and the company now
boast a 50-strong ensemble
681
00:40:36,200 --> 00:40:39,440
of dancers and an
international reputation.
682
00:40:39,440 --> 00:40:41,560
I think at the beginning,
when the princess...
683
00:40:41,560 --> 00:40:44,360
I don't think I will hurt
her if I say that,
684
00:40:44,360 --> 00:40:47,440
but I think at the beginning,
when she created the company,
685
00:40:47,440 --> 00:40:50,200
a lot of people laughed.
They didn't take that seriously -
686
00:40:50,200 --> 00:40:52,440
I mean, a princess doing
a ballet company?
687
00:40:52,440 --> 00:40:55,040
But that was the great genius
of Caroline.
688
00:40:55,040 --> 00:40:57,200
She actually proved by doing
the company
689
00:40:57,200 --> 00:40:59,200
that she could create something.
690
00:40:59,200 --> 00:41:00,480
And it's wonderful.
691
00:41:00,480 --> 00:41:04,040
To ensure the ballet remains
accessible to all,
692
00:41:04,040 --> 00:41:08,600
government subsidies keep
these ticket prices under £35,
693
00:41:08,600 --> 00:41:11,440
less than half the price
of equivalent tickets
694
00:41:11,440 --> 00:41:13,280
at the Royal Ballet in London.
695
00:41:15,680 --> 00:41:17,680
They sell out weeks in advance.
696
00:41:19,400 --> 00:41:22,120
You know, it's one of the rare
countries who's giving more than
697
00:41:22,120 --> 00:41:24,240
5% of its budget for culture.
698
00:41:24,240 --> 00:41:27,080
A lot of things that happen
in Monaco are done
699
00:41:27,080 --> 00:41:29,840
by the will of the princess
and she really...
700
00:41:30,840 --> 00:41:34,840
..she's a woman that has a very
strong respect
701
00:41:34,840 --> 00:41:39,120
for anybody who tries to do
something artistically.
702
00:41:41,440 --> 00:41:44,760
And Princess Caroline is due
to be here in person
703
00:41:44,760 --> 00:41:46,760
for tonight's special performance.
704
00:42:08,280 --> 00:42:10,720
With the princess now in attendance,
705
00:42:10,720 --> 00:42:12,040
the ballet can begin.
706
00:42:23,960 --> 00:42:26,920
I think Monaco is very special,
very unique.
707
00:42:26,920 --> 00:42:31,240
But there is always this kind of
very superficial picture
708
00:42:31,240 --> 00:42:32,640
of what people know about it.
709
00:42:32,640 --> 00:42:37,800
Of course, you cannot avoid it,
it's a place where there is money,
710
00:42:37,800 --> 00:42:40,440
where there is rich people,
there is big, bold,
711
00:42:40,440 --> 00:42:42,880
there is Ferraris,
there is casino...
712
00:42:44,000 --> 00:42:45,840
..but there is also a life.
713
00:42:45,840 --> 00:42:48,560
There is also a life with people
creating.
714
00:42:49,960 --> 00:42:54,320
For me, it's a kind of mission
to imagine that I'm a kind of
715
00:42:54,320 --> 00:42:57,960
ambassadeur of the principality...
716
00:42:59,640 --> 00:43:03,760
..showing the rest of the world
a kind of a different idea
717
00:43:03,760 --> 00:43:05,240
of what Monaco can be.
718
00:43:06,520 --> 00:43:09,680
So when people see the Ballet de
Monte-Carlo outside, they say,
719
00:43:09,680 --> 00:43:12,680
"Oh! And they also do things
like that there?
720
00:43:12,680 --> 00:43:17,320
"Oh, I thought it was only
rich lady with poodles
walking on," you know.
721
00:43:17,320 --> 00:43:20,960
And I feel very proud of that.
722
00:43:25,440 --> 00:43:28,080
With the performance over,
as per tradition,
723
00:43:28,080 --> 00:43:31,280
Princess Caroline likes to
thank the dancers backstage,
724
00:43:31,280 --> 00:43:33,520
including brothers
Alexis and George.
725
00:43:33,520 --> 00:43:38,280
Yeah, she's about to come.
She's coming just to
say hello to the company.
726
00:43:38,280 --> 00:43:40,760
Do you have any plans
on what you'll say to her?
727
00:43:40,760 --> 00:43:43,880
We don't normally say much.
She just comes to...
728
00:43:45,880 --> 00:43:47,720
She's coming, sorry!
729
00:43:50,520 --> 00:43:51,720
Super!
730
00:44:01,400 --> 00:44:03,880
Can I ask just about culture
in Monaco in general.
731
00:44:03,880 --> 00:44:06,800
Why is it important
to you to support it?
732
00:44:06,800 --> 00:44:10,120
I think it's a right,
like education and health.
733
00:44:10,120 --> 00:44:13,760
It's a right and people
shouldn't have to pay
734
00:44:13,760 --> 00:44:18,920
for that or...struggle
to access culture.
735
00:44:19,920 --> 00:44:22,880
Were you an enthusiastic girl? Did
you drag your parents to culture?
736
00:44:22,880 --> 00:44:26,000
Yes, absolutely! Yes.
I would say, "You have to see this."
737
00:44:26,000 --> 00:44:27,840
They didn't always adhere to it,
738
00:44:27,840 --> 00:44:31,800
but sometimes there were
pleasant surprises, yeah.
739
00:44:32,800 --> 00:44:35,880
And it's, um...
It's a tradition here
740
00:44:35,880 --> 00:44:38,840
and I always like to think
that tradition is the...
741
00:44:39,880 --> 00:44:43,320
..transmission of fire
and not worshipping of ashes.
742
00:44:43,320 --> 00:44:47,720
You have to keep on fighting
that way, I would think.
743
00:44:47,720 --> 00:44:50,920
Yes!
744
00:44:52,400 --> 00:44:53,560
I have to!
745
00:44:57,560 --> 00:45:02,080
Princess Caroline's efforts to
celebrate culture in all its forms
746
00:45:02,080 --> 00:45:05,520
are also in evidence tonight
at the Fairmont Hotel.
747
00:45:07,160 --> 00:45:11,640
The annual Futurum Awards
Ceremony is being held to highlight
748
00:45:11,640 --> 00:45:17,040
one influential artist and by doing
so, inspire more home-grown talent.
749
00:45:18,120 --> 00:45:21,760
The recipient of this year's award
is the internationally renowned
750
00:45:21,760 --> 00:45:23,960
sculptor Anish Kapoor.
751
00:45:23,960 --> 00:45:26,560
We are in one of the most
beautiful places in the world
752
00:45:26,560 --> 00:45:28,600
and the Cote d'Azur is famous
753
00:45:28,600 --> 00:45:33,440
for being so inspirational to great
artists from through the centuries.
754
00:45:33,440 --> 00:45:38,440
Kapoor's sculpture, Sky Mirror,
currently has pride of place
755
00:45:38,440 --> 00:45:40,880
outside Monte Carlo Casino.
756
00:45:40,880 --> 00:45:44,800
The artist's relationship with
Monaco stretches back to his youth.
757
00:45:44,800 --> 00:45:47,520
My father was a hydrographer,
758
00:45:47,520 --> 00:45:52,520
so ocean mapmaking, and it used to,
759
00:45:52,520 --> 00:45:54,960
I think, still does,
the headquarters
760
00:45:54,960 --> 00:45:58,280
of ocean mapmaking worldwide
is here in Monaco.
761
00:45:58,280 --> 00:46:02,000
So I came here often as an
art student and onward.
762
00:46:02,000 --> 00:46:04,240
Monaco was a very different
kind of place.
763
00:46:04,240 --> 00:46:07,160
It was retiring, quiet...
764
00:46:07,160 --> 00:46:10,360
..and then money arrived
and something happened here.
765
00:46:10,360 --> 00:46:12,680
I mean, something big time happened
here, frankly.
766
00:46:12,680 --> 00:46:15,640
In a place that's so much about
money...
767
00:46:17,280 --> 00:46:20,640
..you know, art becomes yet
another commodity.
768
00:46:20,640 --> 00:46:24,360
And I think as artists,
we have to be wary of how you can
769
00:46:24,360 --> 00:46:27,280
both be radical and be in the
market. It can't be for sale
770
00:46:27,280 --> 00:46:29,920
if it's radical. I mean, so,
these things are complicated.
771
00:46:29,920 --> 00:46:32,440
Can anything in Monaco be radical?
772
00:46:32,440 --> 00:46:35,160
Probably not. Probably not.
773
00:46:38,240 --> 00:46:41,480
The award is being presented by
Prince Albert, who,
774
00:46:41,480 --> 00:46:44,800
unusually for him, is running
slightly behind schedule.
775
00:46:46,280 --> 00:46:48,960
Sorry I'm a little late, I had to
go say hello to my kids
776
00:46:48,960 --> 00:46:51,840
Good plan.
..since yesterday.
777
00:46:54,040 --> 00:47:01,000
May I ask you to grant the Futurum
Award of 2019 to Sir Anish Kapoor?
778
00:47:03,800 --> 00:47:05,760
Although he's being honoured
tonight,
779
00:47:05,760 --> 00:47:09,240
Kapoor hasn't always received
such a warm welcome.
780
00:47:11,000 --> 00:47:15,960
Do you know, my parents lived
here many, many, many years ago...
781
00:47:17,040 --> 00:47:19,480
..when I was a long-haired...
782
00:47:20,480 --> 00:47:22,240
..hippie-ish...
783
00:47:23,280 --> 00:47:25,160
..art student.
784
00:47:25,160 --> 00:47:27,680
And, you know, I'd come
to Monaco often...
785
00:47:28,960 --> 00:47:30,760
..and I was always stopped
by the police.
786
00:47:30,760 --> 00:47:33,680
"What are you doing here?"
That happened a lot!
787
00:47:34,800 --> 00:47:39,800
But, you know, it's strange,
therefore, to come back to...
788
00:47:39,800 --> 00:47:42,120
..to be honoured in this way.
789
00:47:42,120 --> 00:47:46,840
Monaco does lots of things,
but I feel it's very, very important
790
00:47:46,840 --> 00:47:50,520
that it does culture, that culture,
in a way...
791
00:47:51,840 --> 00:47:54,920
..brings citizenship.
792
00:47:54,920 --> 00:47:56,760
It brings belonging.
793
00:47:56,760 --> 00:47:59,400
On that, please forgive me
and thank you.
794
00:48:06,680 --> 00:48:10,880
Another day and another prestigious
event in Monaco's packed
795
00:48:10,880 --> 00:48:12,680
social calendar.
796
00:48:12,680 --> 00:48:14,840
At the Sporting Club,
797
00:48:14,840 --> 00:48:18,120
preparations are under way
for the country's biggest charity
798
00:48:18,120 --> 00:48:19,560
function of the year.
799
00:48:22,080 --> 00:48:24,680
Since 1948, the Red Cross Ball
800
00:48:24,680 --> 00:48:29,120
has raised substantial funds
for the humanitarian organisation.
801
00:48:31,280 --> 00:48:35,120
Over the decades, the ball
has attracted Hollywood guests
802
00:48:35,120 --> 00:48:37,960
like Michael Caine
and Elizabeth Taylor,
803
00:48:37,960 --> 00:48:39,840
as well as hosting performances
804
00:48:39,840 --> 00:48:42,560
from the likes of Frank Sinatra
and Elton John.
805
00:48:45,000 --> 00:48:49,000
Tonight's annual gala is the most
desirable ticket in town.
806
00:48:51,000 --> 00:48:52,960
It's a very significant event.
807
00:48:52,960 --> 00:48:56,840
It's the number one fundraiser
808
00:48:56,840 --> 00:48:58,760
for the Monaco Red Cross.
809
00:49:00,320 --> 00:49:01,960
It has become, of course,
810
00:49:01,960 --> 00:49:04,840
a major feature
on the international scene,
811
00:49:04,840 --> 00:49:08,680
and it is a very prominent event
for the social life in Monaco.
812
00:49:10,440 --> 00:49:13,520
But pulling off
landmark events like these
813
00:49:13,520 --> 00:49:16,480
takes a small army
of staff to achieve.
814
00:49:16,480 --> 00:49:20,320
Tonight, we need to prepare
very quickly and fast.
815
00:49:20,320 --> 00:49:23,840
The different dish and desserts
are why we need a big kitchen.
816
00:49:23,840 --> 00:49:26,760
Tonight, supervising chef Ken
and his team
817
00:49:26,760 --> 00:49:31,480
are preparing a three-course meal
for 850 guests,
818
00:49:31,480 --> 00:49:35,600
but before the guests are seated,
they'll be offered barbagiuan,
819
00:49:35,600 --> 00:49:39,200
a traditional thin pastry
which is filled and deep-fried.
820
00:49:40,280 --> 00:49:42,080
This is from Monaco
821
00:49:42,080 --> 00:49:43,360
and we do it only in Monaco.
822
00:49:44,520 --> 00:49:46,960
Now we put the garnish.
823
00:49:46,960 --> 00:49:48,240
What is the garnish?
824
00:49:48,240 --> 00:49:49,520
Chard. Ah.
825
00:49:50,920 --> 00:49:52,720
And then we close it.
826
00:49:52,720 --> 00:49:56,240
Look, we close with the finger
and we cut one by one.
827
00:49:56,240 --> 00:49:59,720
The barbagiuan,
we cannot do with a machine.
828
00:49:59,720 --> 00:50:02,320
It's not possible. Only handmade.
829
00:50:02,320 --> 00:50:04,480
This is a very important recipe
for us.
830
00:50:04,480 --> 00:50:07,440
Because it's Monegasque?
Yes. Yes.
831
00:50:07,440 --> 00:50:09,800
The team will need to produce
3,000
832
00:50:09,800 --> 00:50:13,480
of these Monegasque delicacies
before tonight's event.
833
00:50:14,840 --> 00:50:16,720
Next, it's on to dessert.
834
00:50:16,720 --> 00:50:21,000
So, let me introduce
the head pastry chef.
835
00:50:21,000 --> 00:50:22,920
Bonjour.
836
00:51:11,200 --> 00:51:13,400
It's very beautiful, refreshing,
837
00:51:13,400 --> 00:51:15,200
delicate.
838
00:51:15,200 --> 00:51:16,840
Good job, Tim.
839
00:51:20,120 --> 00:51:25,280
In two hours' time, a who's who
of Monaco society will be walking
840
00:51:25,280 --> 00:51:29,080
through the doors and for the staff,
there is no room for mistakes.
841
00:51:38,320 --> 00:51:43,400
Tickets for the black tie event
are more than £1,000 a head,
842
00:51:43,400 --> 00:51:46,280
but drinks cost extra.
843
00:51:46,280 --> 00:51:48,680
Tonight's wine list,
we have 46 choices.
844
00:51:48,680 --> 00:51:50,480
46? That's quite big.
845
00:51:50,480 --> 00:51:54,240
Yes. It's quite big for
so many people.
846
00:51:54,240 --> 00:51:57,320
Burgundy wine, noir Alsace,
847
00:51:57,320 --> 00:51:59,640
champagne,
some classic Dom Perignon,
848
00:51:59,640 --> 00:52:02,040
but we have also Larmandier Bernier.
849
00:52:02,040 --> 00:52:05,160
It's the choice of the Prince.
He's chosen that champagne?
850
00:52:05,160 --> 00:52:08,120
Yes. Larmandier Bernier tonight.
851
00:52:08,120 --> 00:52:10,200
The prince doesn't pay
for his drinks, I hope.
852
00:52:10,200 --> 00:52:13,280
Of course he pays.
A-ha.
853
00:52:13,280 --> 00:52:14,840
He pays.
854
00:52:14,840 --> 00:52:17,160
How does it work in terms
of the prices?
855
00:52:17,160 --> 00:52:21,160
We have minimum price tonight
of 370 euro.
856
00:52:21,160 --> 00:52:23,760
That's the less expensive.
857
00:52:23,760 --> 00:52:28,920
The most expensive would be Chateau
Cheval Blanc 1,900 euro.
858
00:52:28,920 --> 00:52:31,280
On the general wine list
859
00:52:31,280 --> 00:52:33,240
normally this is not the price,
860
00:52:33,240 --> 00:52:38,360
but we do that because we know
one part of the receipt
861
00:52:38,360 --> 00:52:40,800
goes to the Red Cross.
862
00:52:40,800 --> 00:52:43,400
Might I ask what percentage of that?
863
00:52:43,400 --> 00:52:44,760
I can't tell!
864
00:52:46,560 --> 00:52:48,040
I know that but I can't tell!
865
00:52:52,680 --> 00:52:57,160
Not that money is necessarily
a concern for those arriving,
866
00:52:57,160 --> 00:53:00,960
with a guest list that includes
big names from the world of sport,
867
00:53:00,960 --> 00:53:02,840
fashion and music.
868
00:53:11,000 --> 00:53:15,520
As tonight's attendees settle
in for their glamorous evening,
869
00:53:15,520 --> 00:53:18,080
in the kitchen it's the moment
of reckoning
870
00:53:18,080 --> 00:53:20,760
for supervising chef Ken
and his team.
871
00:53:22,000 --> 00:53:25,360
It's now or never. It's a big
rush and it's very important
872
00:53:25,360 --> 00:53:26,640
to keep the pressure.
873
00:53:31,680 --> 00:53:34,040
I need to respect all of the plate
874
00:53:34,040 --> 00:53:36,760
because maybe one plate
is for the prince.
875
00:53:36,760 --> 00:53:38,920
So, it's random, we don't know,
876
00:53:38,920 --> 00:53:42,920
so that's why we need to keep the
quantity for all of the plates.
877
00:53:42,920 --> 00:53:46,760
Upstairs, Prince Albert
has just arrived with his wife,
878
00:53:46,760 --> 00:53:48,200
Princess Charlene.
879
00:53:51,640 --> 00:53:55,080
As the royal party take their seats,
880
00:53:55,080 --> 00:54:00,160
140 staff are working flat out
to ensure that dinner service
881
00:54:00,160 --> 00:54:02,200
goes without a hitch.
882
00:54:08,360 --> 00:54:10,560
Busy, busy! Busy!
883
00:54:28,800 --> 00:54:30,840
Job is done, job is done!
884
00:54:35,560 --> 00:54:39,440
As the party moves to the dance
floor and celebrities rub shoulders
885
00:54:39,440 --> 00:54:43,480
with the royals, the Red Cross ball
cements its reputation
886
00:54:43,480 --> 00:54:46,640
as the place to be seen
in society circles.
887
00:54:47,840 --> 00:54:51,000
Ticket sales, fine wine
and a top-tier auction
888
00:54:51,000 --> 00:54:54,400
raised around half a million pounds
for the charity,
889
00:54:54,400 --> 00:54:57,800
ensuring that, in its 71st year,
890
00:54:57,800 --> 00:55:00,080
the ball still goes off with a bang.
891
00:55:07,920 --> 00:55:11,800
Whether it's grand celebrations
or ambitious expansion plans,
892
00:55:11,800 --> 00:55:17,360
for a small state, Monaco has a long
track record of thinking big.
893
00:55:17,360 --> 00:55:19,360
And today, at the land extension,
894
00:55:19,360 --> 00:55:23,120
work has already begun on filling
in the newly formed basin,
895
00:55:23,120 --> 00:55:26,240
setting the stage
for the construction
896
00:55:26,240 --> 00:55:28,280
of the new luxury villas.
897
00:55:28,280 --> 00:55:31,720
This morning, the project's progress
is being inspected
898
00:55:31,720 --> 00:55:35,360
by government official Jean-Luc
and site manager Christophe.
899
00:55:44,600 --> 00:55:47,400
Is he a demanding inspector?
900
00:55:47,400 --> 00:55:52,040
Certainly, and he's right, because
we need some challenge each time.
901
00:55:52,040 --> 00:55:57,200
Yeah. We had very demanding goals.
902
00:55:57,200 --> 00:56:01,280
Work should commence on the first
of the buildings this year,
903
00:56:01,280 --> 00:56:05,520
but creating the land to build them
on is an operation that requires
904
00:56:05,520 --> 00:56:08,040
vast amounts of natural resources.
905
00:56:08,040 --> 00:56:12,160
We've completed this whole belt
of caissons,
906
00:56:12,160 --> 00:56:15,760
so we've created the first
artificial lake of Monaco,
907
00:56:15,760 --> 00:56:18,520
but you have to have a duty
to fill it.
908
00:56:18,520 --> 00:56:21,320
This ship is taking
some kind of rough sand
909
00:56:21,320 --> 00:56:25,320
to fill up this section,
to create the reclamation.
910
00:56:25,320 --> 00:56:29,520
Each ship is taking in
between 20-25,000 tonnes.
911
00:56:29,520 --> 00:56:33,520
In total we have about
750,000 tonnes.
912
00:56:35,080 --> 00:56:38,680
The project is a costly undertaking,
but it's not the government
913
00:56:38,680 --> 00:56:40,160
who are forking out.
914
00:56:40,160 --> 00:56:43,280
A private company's paying
for use of the seabed
915
00:56:43,280 --> 00:56:47,320
and footing the 2 billion euros
construction bill,
916
00:56:47,320 --> 00:56:49,200
which they will eventually profit on
917
00:56:49,200 --> 00:56:52,160
by selling the 110 new properties.
918
00:56:52,160 --> 00:56:56,120
The average is about
400 square metres,
919
00:56:56,120 --> 00:56:59,360
and ten large individual houses
920
00:56:59,360 --> 00:57:02,000
directly near the sea.
921
00:57:02,000 --> 00:57:04,680
They go from 1,000 square metres
922
00:57:04,680 --> 00:57:08,120
to 1,500 square metres.
923
00:57:08,120 --> 00:57:12,520
Monaco is set to cash in
from these elite properties, too,
924
00:57:12,520 --> 00:57:17,640
with considerable revenues generated
from stamp duty and VAT.
925
00:57:17,640 --> 00:57:20,080
Can I ask what's the price
they will sell for?
926
00:57:20,080 --> 00:57:22,080
I don't know, really, the price
927
00:57:22,080 --> 00:57:25,880
because usually we use a ratio
928
00:57:25,880 --> 00:57:27,600
per square metre,
929
00:57:27,600 --> 00:57:30,520
but when you reach
this kind of product,
930
00:57:30,520 --> 00:57:33,600
they are so exceptional that
931
00:57:33,600 --> 00:57:37,040
there will only be ten buyers
in the world.
932
00:57:37,040 --> 00:57:39,160
Yeah.
933
00:57:39,160 --> 00:57:43,040
Maybe it could be more than
100 million euros per villa
934
00:57:43,040 --> 00:57:44,800
for the largest one.
935
00:57:44,800 --> 00:57:47,200
With such an eye-watering price tag,
936
00:57:47,200 --> 00:57:50,680
when building work is completed
in five years' time,
937
00:57:50,680 --> 00:57:55,160
Monaco seems set to welcome
another new wave of billionaires.
938
00:57:57,920 --> 00:58:00,920
There is always
this very superficial picture
939
00:58:00,920 --> 00:58:04,640
that we're all swimming
in the caviar all day long,
940
00:58:04,640 --> 00:58:08,960
but you can see the most
annoying rich people
941
00:58:08,960 --> 00:58:12,440
and the most wonderful rich people,
942
00:58:12,440 --> 00:58:15,680
and also very simple people
that somehow live together
943
00:58:15,680 --> 00:58:17,320
and it works.
944
00:58:20,720 --> 00:58:23,480
It's a place with many opportunities
945
00:58:23,480 --> 00:58:25,600
and so many nationalities.
946
00:58:25,600 --> 00:58:28,240
It's a whole, like, minestrone,
how you say?
947
00:58:28,240 --> 00:58:31,440
A vegetable soup, you know,
put it all together,
948
00:58:31,440 --> 00:58:33,200
makes a wonderful place.
949
00:58:36,920 --> 00:58:40,400
It's a fantastic place for
a holiday, but maybe not to live.
77845
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