Out of Land, Monaco Eyes Ocean
Tiny, rich principality wants landmark on stilts, but environmental concerns loom
By Nick McMaster,  Newser Staff
Posted May 22, 2008 2:10 PM CDT
Monaco is hosting the Formula One Grand Prix.   (Getty Images)
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(Newser) – Monaco, flush with cash from tourism and its status as a tax haven, is trying to acquire the one thing it lacks: space. Its square mile of space is full (it's the world's second-most-densely populated country), moving Prince Albert II to decide to build an artificial offshore district—on stilts, the Guardian reports.

The new area, expected to take 10 years to build, would take practical inspiration from oil rigs, and artistic inspiration from Dubai's artificial islands. Top architects are rumored to be in the mix to design a centerpiece structure. Conservationists warn of the damages from depriving an underwater ecosystem of light, though the prince says he's got an answer there, too.