Ukrainian businessman Rinat Akhmetov has completed one of the most high-profile transactions on the global real estate market, acquiring a property in Monaco valued at over $550 million. The asset in question is a five-level apartment in the principality’s new luxury district, Mareterra—already emerging as a magnet for international investors.

According to Bloomberg, the residence is located in the flagship building Le Renzo and spans approximately 2,500 square meters, excluding terraces and balconies overlooking the Mediterranean Sea. The property includes a private pool, jacuzzi, and at least eight parking spaces. With 21 rooms, it meets the highest standards of ultra-prime living.

The Mareterra project took more than a decade to complete and was officially inaugurated in 2024 by Albert II. Built on reclaimed land, the district has been seamlessly integrated into the coastal landscape, featuring gardens, a waterfront promenade, and a private marina. The development comprises over a hundred residences—from villas to apartments—designed as a closed ecosystem of luxury living.

Holding company System Capital Management confirmed its involvement in the project, noting that the investment was made on the primary market back in 2021. While the company did not disclose the exact price of the asset, it emphasized that premium real estate has been part of SCM’s international portfolio for over a decade.

If the reported figure is confirmed, the deal could become the most expensive private residential sale on record, surpassing landmark transactions in London and New York previously considered the highest.

This is not Akhmetov’s first investment in Mediterranean luxury real estate. He was previously reported to have acquired the historic Villa Les Cèdres in France—an estate with a rich legacy that once belonged to Leopold II. In this context, the new acquisition appears as a natural continuation of a broader strategy: building a portfolio of assets in some of the world’s most exclusive and expensive locations.