Ukraine's Richest Man Buys Record-Breaking Monaco Apartment

Rinat Akhmetov, Ukraine's wealthiest individual, continues to make significant investments, this time acquiring a lavish apartment in Monaco for a staggering $554 million. This transaction, potentially the most expensive real estate deal in history, underscores Akhmetov's substantial financial standing and his continued engagement with international luxury markets. The 21-room residence, spanning five floors in the prestigious "Le Renzo" building within the new Mareterra district, boasts unparalleled amenities and a prime location overlooking the Mediterranean Sea. While Akhmetov's holding company, SCM, confirmed the investment, they remained tight-lipped about the specifics, stating only that the project was acquired in 2021. This acquisition, finalized in 2024, predates the full-scale Russian invasion of Ukraine, highlighting a long-term strategy of international asset diversification. The sheer scale of this purchase, surpassing previous record-breaking deals in London and New York, positions it as a landmark event in the global real estate landscape. Monaco, known for its exclusivity and high-value properties, continues to attract the world's elite, with prices in the Mareterra district exceeding €100,000 per square meter. Akhmetov's portfolio already includes other high-value properties, such as the historic Villa Les Cèdres on the French Riviera, acquired in 2019. Despite the war's impact on Ukraine's key economic sectors like steel, mining, and energy, Akhmetov's commitment to international luxury real estate remains a notable aspect of his business dealings.

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SCM possesses an international real estate portfolio for over ten years. Among the assets is the project "Le Renzo", which we invested in on the primary market in 2021.