Original subtitles

Monaco,

the miniature nation,

not much bigger than Hyde Park,

on the French Riviera,

where one in three residents are millionaires.

In Monaco, a helicopter is considered like a car

for most of the people living here.

Prince Albert, the Sovereign Prince of Monaco,

agreed to let cameras film last summer

behind the scenes of the royal palace.

They call him "le Patron".

The Boss.

And in this private playground of the world's super-rich...

How much would it cost me to buy the whole bottle?

28,000 euros.

..we meet the billionaire residents

and those who serve them.

It's a stress, huh, the rush time, yes.

Any idea how much THIS would cost you per night?

I don't know the price of the room, nothing.

I just clean the room.

For me, they are like crazy children.

They want more and more and more.

I wake up every morning, I'm, like, "Oh, my God, I'm living in Monaco,

"I'm living in a dream."

At just two square kilometres,

Monaco is one of the smallest and wealthiest countries in the world.

A packed calendar of events keeps the super-rich entertained

and the Classic Yacht Week attracts boating enthusiasts

from across the globe.

Cheers!

We drafted a great team from Nantucket Yacht Club,

because we're all Americans,

and when I rang up and said, "Gee, we've got this possibility,

"what do you think?" Yes.

Are you kidding me? Where do I sign up?

Regattas have been held in Monaco since the 19th century,

and this exclusive event showcases some of the best classic yachts

from years gone by.

What's special about Monaco?

What isn't special?

Is there anything that's NOT special about Monaco?

The champagne's very special.

We just are so enjoying ourselves here.

You never get bored in Monaco.

Out on the water, competition is fierce,

as yacht crews test their sailing prowess

in a series of races.

Today's event, however, is a more demure affair.

The Elegance competition is a chance for yacht owners to show off

their pride and joy, knowing that, rather than speed,

their boats will be judged purely on looks.

Sitting on the judging panel are

Princess Camilla of Bourbon-Two Sicilies

and yacht owner Christian Chalmin.

The position here is fantastic.

Perfect view.

Perfect view so that we can really judge what's happening.

It's very important.

We are, as you can see, we have to give,

we have to give notes.

Every single boat.

Skippers are carefully judged on how well their yachts and crew

are presented...

..and even minor indiscretions can jeopardise their chances.

It's a question of courtesy

that when the beautiful sailing boat goes by,

the flag should be put a little bit lower,

and so that is a grade less.

Yes, that's it. The flag is down.

Perfect.

Tell me about judging. What expertise do you have?

Well, actually, here, what they are expecting from us

is more of what they call a "coup de coeur",

so something that your heart expresses.

You can have a coup de coeur for a boat like this,

like when you fall madly in love with a man, or woman. That's it.

Obviously, you have very high standards.

Well, you know, we have 80 boats today, you know?

So we have to make differences, and to make differences, make that,

you know, we cannot say "ten" to each one, you know?

Prizes will be awarded at the end of the week

by the Yacht Club's president, Prince Albert.

But winning here can be about far more than lifting a trophy.

Of course, to receive a prize from the Sovereign Prince of Monaco,

it's even a double winning, somehow,

and I think even the boat's value, in itself, emotionally,

but also financially, goes up. It's important.

So, have you had a coup de coeur today? Have you fallen in love?

Yes, but I can't tell you.

Bravo.

The Classic Yacht Week may be steeped in maritime traditions

of the past,

but back on dry land,

property developers have their eyes firmly set

on the Monaco of the future.

We go?

Today, potential buyers have been invited to an open day

for an exclusive new property that has recently come onto the market.

Built into a cliff face, this one-off home has been named

Villa Troglodyte, meaning "living in a cave",

and has taken its Monegasque property developer almost two years

to complete.

Spread across five floors,

the villa has 500 square metres of living space.

With solar panels on the roof

and an indoor swimming pool carved into the bedrock,

it may be the most luxurious and expensive cave on Earth.

A fantastic house. How did you find it?

Lovely. Absolutely wonderful. It's really unique.

Very, very inspiring.

But interested buyers will need deep pockets,

as this house is on the market for around £23 million.

Might you be a buyer?

No, I don't think.

No, not yet.

Maybe on Friday, there's a lottery, and I'll play the lottery,

and then I'll come back and we'll have another talk.

Estate agent Andrea has seen increasing demand for properties

like this, despite the villa's extraordinary price tag.

Prices are going up, year by year, about 10%.

Yeah, roughly.

Yeah.

Monaco, it's a special place.

Is there a market for a place like this?

Sure, absolutely.

Especially in Monaco,

there are potential clients, potential customers,

I am 100% sure, yeah, yeah.

Sooner or later this villa will be sold, yeah.

Absolutely.

But it doesn't look like it will be snapped up today.

This house may be high spec, but there is one thing it's lacking.

It does have everything, but it doesn't have a view.

So it would be perfect if you had, like, a perfect sea view out.

That's the only thing missing. The rest is perfect.

The view, you can never guarantee it.

So you can buy an apartment today in Monaco,

and have the most beautiful view,

and tomorrow there can be a new project,

and they can build a building in front of you,

and then you are losing the view.

So, actually, what they say, if you have to invest,

it's better to invest directly in an apartment without a view.

It is a special place, Monaco,

because every centimetre is filled up, as you see.

Monika Bacardi has owned property in Monaco for more than two decades.

The space is very limited, and so the buildings are more,

are more expensive, because they're not so many,

and a lot of people want to live here.

With space at such a premium,

Monika's multi-storey house is a rarity among Monaco's 20,000 homes.

It's a townhouse, a Monaco townhouse,

and I'm living here for many years, I think 25 years.

Really?

How many floors? We have a service floor, this one,

my daughter's floor, my floor, the office floor...

So we have five floors.

Five floors. Yeah, and we have a lift.

You would obviously get good exercise,

going up and down the stairs.

I'm making good exercise. I don't have to go to the gym.

One, two, three, four, five o'clock rock!

I rock it up the stairs!

Can we have a look out onto Absolutely. Please.

This is our living room.

Unfortunately, a building, a building in front of us.

Before, there was a whole sea view, and the sea wind coming,

but now you see the big construction they're doing.

That's one of the issues in Monaco, isn't it? The views.

The views, yes.

Unfortunately, sometimes they disappear.

You may know only be able to see the tiniest sliver of sea,

but this townhouse is still worth at least £30 million.

Back at the harbour, Classic Yacht Week is in full swing.

The event is being hosted by Monaco's exclusive Yacht Club,

established by Prince Rainier in 1953.

Membership is by invitation only,

and must be approved by Prince Rainier's son,

and current club president, Prince Albert.

This yacht club, you see how impressive it is,

is also a testimony of how Monaco's successful,

when it comes to the sea, whether it's yachting,

whether it's the industry around it.

This is a place where business deals are done,

and those in the know come to be seen.

And being seen means dressing for every occasion.

At one of the country's hundred boutiques,

owner Laurent and sales assistant Jennifer are on hand

to welcome the elite clientele.

Belgian-born TV presenter Winny is a Yacht Club regular,

and has bought her outfits here for the last decade.

Winny, she comes every, every month

and she bought every time one or two dress, every month, yes.

Yes, oh, yes!

She's one of the best class customers in our shop.

Your dresses are so beautiful.

It's, er, it's like the candy shop for the girls here.

Yes!

So the dress that I need for tomorrow evening,

it's for the... I go to the Yacht Club.

So there is a nice evening, you know,

lots of glamour and, er, and bling bling, so, er...

So you need something very long, something...

Yes, yes. I want that everybody see me!

OK, perfect.

I have one in gold.

That is beautiful.

My God, it's amazing! We have just received it yesterday,

and I thought that is really Oh, my God.

Oh, my God!

Oh!

Is this just a bit too much for the Yacht Club?

No, it's never too much for Monaco!

I think for the Yacht Club, it's not too much.

It's really Monaco style, this.

Really, really Monaco style.

In Monaco, everybody likes to impress their friends,

and, er, yes, it's, it's, a part of the game for Monaco.

What about the price tag?

You need a good husband who has a good credit card,

because...

La couleur, sublime.

This is an amazing dress.

Bling, bling, bling, bling, bling, bling, bling!

With this dress, Winny, you are the queen of the evening.

Of the night.

You have to see me, if you see me in this dress.

Monaco, it's very small,

everybody see you, and you can wear one time your dress,

and this is the problem here.

What is the price of this?

There it is!

It's amazing.

This is very...

..very glamorous. It's a wow.

And it's no surprise.

The two gold dresses may both look the part,

but this one is ten times the price.

This dress, it's 16,000 euros.

One six zero zero zero.

Wow, wow, wow, wow!

It's very difficult for me to make the decision,

because I love, er, both,

so I have to think about.

But, er, one night, good sleep and it's OK.

At the harbour, it's the climax to Yacht Week,

the prize-giving ceremony.

Ladies and gentlemen,

welcome to the Monaco Classic Week Official Prize-Giving.

Yacht crews gather expectantly to hear the judges' verdicts,

and Prince Albert will be arriving

to present the awards to the winners.

So, have you made your decisions?

Yes, we made all the decisions yesterday.

The quality of the boats was absolutely fantastic this year.

A very good year.

And you haven't told anybody yet?

Nope.

And I'm not going to tell you now!

Right now, we are waiting for the Prince.

Here, nothing can start before the Prince is here.

Ladies and gentlemen, please stand to welcome

the President of our Yacht Club, and Monaco's Serene Highness,

Prince Albert II of Monaco.

After the main prizes are given out,

it's time to announce the winner of the Elegance competition.

Judges were won over by the exceptional presentation

of the 100-year-old yacht Oriole from the USA.

With the prize-giving complete,

all that remains for Prince Albert, as Yacht Club President,

is to congratulate some of the victors.

No, please, er,

carry on without me. That's fine.

So who have I not met?

Oh, Spencer Verney. Nice to meet you.

And this group of enthusiastic Americans

from the Nantucket Yacht Club have sailed halfway across the world

to be here.

May I present you with a history of the Nantucket Yacht Club?

That's fantastic.

Since 1906?

1906. It's been around.

And this is a small burgee.

Oh, thank you so much. We're glad you appreciate it.

Thank you so much. It was wonderful to have you.

Yeah!

Classic Yacht Week may be drawing to a close,

but for its visitors,

there is still time to have a few more glasses of champagne

and celebrate...

..before embarking on the long journey home.

Yacht Week may be all about elegance and style,

but in a country that seems to have as many dogs as children,

even the residents' canine companions come dressed to impress.

Welcome.

Marilisa opened her top-end dog boutique five years ago.

We have collars here.

We start from the 25 centimetre size

so the smallest size for a small Chihuahua, 1.5kg.

Our most popular collar?

Full of diamonds, like this.

It's not really diamond, it's Swarovski.

It's like jewellery.

These are toys for dogs.

The most popular toys are the bone, with Chewy Vuitton written.

The customer normally spends 100 euros for toys.

We have also treats for dogs.

They are home-made in Italy.

We have beef, salmon, chicken,

vanilla and green apple.

We have also popcorn,

with bresaola inside, or Parmesan,

and we have the cake with the happy birthday with the candle inside,

and we have champagne.

It's not really champagne, it's only a joke.

It's chienpagne.

Good boy!

Shop assistant Korean-born Jubeen

has worked here for the last three years,

but moving to Monaco was never part of her plans.

My boyfriend is Monegasque,

and we were living in Australia before.

I met him in Australia.

But he has a really bad knee injury.

So we had to come back for the doctors and everything for him.

Jubeen enjoys pampering these privileged pooches,

but has found it's the people here that are the hardest work.

First time I moved to Monaco, I hated it because I've met

some horrible people.

For example, when you go to a restaurant.

I'm a normal person.

I don't have big money or nothing.

I just went to have dinner and then I didn't really

get good service.

But then right next to my table, the lady with, you know,

you can tell with the Chanel bags and everything.

The waitresses tend to be nicer.

I think some people, they see the money first.

I didn't really like living in Monaco because of these things.

Jubeen may have found it hard to acclimatise,

but life is very different here,

if, like her partner, you're one of the 8,000 Monaco citizens,

or Monegasque,

who have long been financially supported by the state.

With 120 nationalities jostling for space

in this tiny but exclusive enclave,

the price of property in Monaco has skyrocketed.

So to protect its citizens,

the state has stepped in to provide subsidised rent and other

advantages, such as free health care.

It's always been the feature of the Principality of Monaco

to have a small national population,

but it's really part of our make-up and part of what we are.

Monegasques are in minority in their own country,

but we live in perfect harmony with all the other nationalities

that call Monaco their home.

Osteopath Thomas has a Monegasque father,

so he's been a citizen from birth.

So you have the harbour here with the big part of the F1 track,

you have the swimming pool.

Overlooking this you have the old town

and you can see the palace actually.

With a baby on the way,

he and his partner Tatev from Armenia have recently moved

into a new apartment, which has a view that many would envy.

If you go this way, you have maybe one or two streets of Monaco

and then it's only France. Beausoleil.

Some people really love the sea.

For me, I don't care.

I come from mountains so to have this piece of mountain

in front of me,

I'm very happy because it reminds me my country, right?

You have both now. Yeah, and now we have like, both.

I mean, it's like, perfect.

The average property in Monaco costs around £45,000 per square metre,

which is twice as much as a flat in Mayfair,

one of the most exclusive parts of London.

Here we prepared for the beginning of our little baby.

Because Thomas is a citizen,

he and Tatev pay less than a third of the market value

to rent this apartment and the state pays the rest.

The state protects the Monegasque citizens

because the prices of the real estate went crazy.

There is flats that belong to the state that are only

or mainly for Monegasque with rents that are controlled

by the government, which are reasonable.

And then you have the possibility of renting in the private sector.

This is private and then we receive help from the government.

A subsidy? Exactly. Yes, yes.

So we have to tell them how much we earn and they will make sure

that the rent is not more than a third of our income.

When Thomas and Tatev's son is born, as a Monegasque,

he'll be granted all of the benefits that come with being a citizen.

If you're Monegasque, you will have a flat.

You have a priority for jobs.

So if you know you have this security, you can travel

with your free mind.

And I would be very proud if he could study abroad,

live and work abroad and maybe come back later in Monaco

to bring his everything he learnt outside of Monaco and bring it back

to the principality.

You always have a country that will welcome you.

So use it.

It is a big luxury to have this.

But it's a status that's only afforded to a select few.

The easiest ways to become a citizen are by birth or by marriage,

but you'd have to be married to a Monegasque for ten years

before you'd even be eligible.

Increasing pressure on the country's resources means that citizenship

rules are about to become even tighter.

We are about to enter discussions on extending the time period

from ten to 20 years

to automatically become a Monegasque by marriage.

That's because if we continue in this way, we will have an increase

in population that will simply be unsustainable for us

in terms of providing housing, providing job opportunities.

There is one other route to citizenship, but its success rate

is so slim that few people even apply.

The other process is, of course, naturalisation.

There are roughly between 100 and 150 demands

for Monegasque citizenship

every year and only about 20% are accepted.

For the country's majority,

buying a property here means paying the full market rate.

But even a studio flat costs around £1 million, so many people

are forced to rent like painter and photographer David,

who has been living in Monaco for the last ten years.

This space is actually 24 Including this bit?

Including the bathroom, everything.

It includes also the external walls,

I was told.

That's less than the size of two car parking spaces.

To make the space work,

I had to actually put things on wheels.

So this serves as my coffee table.

60 shirts fit in there. It's very neat!

And it's like living in a boat, it really is.

Normally, if I'm home alone...

When I'm home alone, it's placed here.

And here is where I work out.

I actually use this as part of my training

so I've maximised the space.

This apartment is situated in the centre of the principality

and we happen to be in the frontier just right across the street

from France.

So France is across the street?

Indeed, I cross the street and it's France.

But a Monaco address comes at a premium.

David's tiny studio costs £1,300 a month, where just a few metres

away in France, it would be a third of the price.

But like anyone officially resident in Monaco,

David doesn't pay income tax, which somewhat softens the blow.

It might seem a bit excessive, but it's a very safe country.

It's very clean.

It's very... it's very peaceful.

And everything functions.

I live like a king.

Upstairs is the bedroom

or half bedroom and half office space.

This bed actually opens up and it becomes double size,

if I should have friends over, which I have had,

and here is my working space.

You don't feel like you're in 24 square metres.

Actually, it's 24 square metres with this mezzanine, adding...

No, it's 20... It's 24, including this.

So it's really...

It's very small.

It's so small that my head touches.

So I have to kind of like, you know, walk hunched.

But it works.

That's the price of living It is.

But the cost of living is so high here that many of those who work

in Monaco can't afford to live here at all.

Street cleaner Miragi works in the Palace Square and travels every day

from his home in the neighbouring French town of Cap-d'Ail.

Miragi may not be able to afford to live here,

but he's paid considerably more in Monaco

than he would be across the border.

Like Miragi,

every day, thousands of workers cross the French border,

attracted by job opportunities and higher wages.

Arriving at Monaco's Opera House, Brazilian-born Alexis

and his brother George are two of the daily commuters.

The brothers are both dancers for Monaco's National Ballet Company

and travel to the Opera House from France every day

to rehearse for a new performance.

I actually live in Beausoleil, which is quite close.

Never Monaco, it's too expensive!

It's too expensive. I mean...

It doesn't really...

There is no point for us. I think there's no point.

Either you're really, like, a billionaire or a millionaire,

you know, that you can live there and can afford to

live the Monegasque life

or it's not... it's not... It's pointless.

No, it's not a We're the real life people!

We do have good salaries, but it's just...

The amount of money you pay for rent

or even if... I mean, we could not buy...

If we both bought houses...apartments in Beausoleil...

That would be impossible.

Literally impossible in Monaco, so...

Our view is like the whole Monaco and the sea, you know,

so we still a little bit of Monaco in a way, you know, so...

Half a mile away, Thomas and Tatev have just brought their own

little piece of Monaco home - a new baby son named Alek.

He's incredible. He's like a little old man.

He's not like a baby baby, he's, like, expressive. He's funny.

I don't know... And he's crying now!

Alek is one of only a hundred or so Monaco citizens born each year.

Being Monegasque, it's rare.

I'm very happy he has this beginning.

It's very nice to go to adventure, but it's very nice to start the life

with some comfort in a nice way, you know,

just to be in a nice, beautiful place.

And then you're open to the world.

I would say we added maybe a 0.1% of the Monegasque population.

I have to do the math again, but it's quite important.

Precious baby.

It's kind of a treasure, right?

Monaco's attractions, financial or otherwise, mean that Monegasques,

migrant workers and millionaires all squeeze into an area of land

50 times smaller than Manchester.

With 19,000 inhabitants per square kilometre, this is the most densely

populated sovereign state in the world.

Space is at a premium, as it was in the 1970s, when Prince Rainier,

known as the Builder Prince, sanctioned a land expansion

into the Mediterranean.

By reclaiming land from the sea and building on it,

the Fontvieille the district in the west of the country was created.

Since then, Monaco's population has risen by almost 50%

to 38,000 people.

And today, Prince Albert is following in his father's

footsteps by overseeing another major land reclamation project.

We did a quick projection of our future needs

in terms of private housing

and it became clear that where the land extension is happening now

was the only place on our waterfront that could accommodate

such an extension.

This controversial 2-billion-euro development of luxury apartments

and exclusive villas is due to be completed in 2025

and will increase the country's size by 3%.

We do have a lot of demand,

mostly for a waterfront view apartments

and so, this answers that need.

It also provides a wonderful public space area for everybody to enjoy.

To create the artificial land is a huge feat of engineering,

costing 900 million euros for the extension alone.

Huge blocks of concrete, known as caissons, are filled with sand

and sunk to the seabed.

Locked together, they form a large sea barrier and the resulting

basin is filled in, forming a new tract of land

reclaimed from the sea.

After more than two years of hard graft, this phase of Prince Albert's

six-hectare land extension is nearing completion.

Tugboat captain David has been working on the project

for the last year.

I live in North Shields on the northeast coast.

And where are you staying now? Oh, we live on board.

Yeah, we have... We all have our own cabins,

we have air conditioning, television, Sky telly.

It's like a home from home. What do you make of Monaco?

It's...OK. It's nice. I mean, the people are lovely.

It's...it's...

I couldn't spend my money here!

What do you mean? Well, it's not cheap.

It's... I think it's a bit of a millionaire's playground.

17 of these 10,000-tonne structures have already been fixed in place

and this morning, David and Jean-Pierre are coordinating

the arrival of the final caisson, which has been towed

over 100 miles from Marseille.

It's a complex operation.

This caisson is 35 metres wide and extends 20 metres below sea level.

D'accord.

Is there a small margin of error?

Of course, yes. The target is very...

..short, OK? We have approximately five centimetres.

The target is very precise.

Concentration is very important, so...

While the land extension will eventually provide

new properties for a select few, just across the road,

existing buildings are also being renovated

to meet ever-increasing demand for luxury homes.

Graham, originally from Merseyside, spent 33 years

in the toy manufacturing business and retired to Monaco six years ago.

As you can see, we have the lounge here

and a focal point of this apartment when you walk in is this wine cave,

which is quite unique.

In Monaco, a lot of people put the kitchens in the lounge,

but I've done something different -

I've got tinted, opening, sliding doors.

If he seems to be selling the place, it's because he is!

If you don't want to drink wine, we have another bar...

..so you feel at home here.

Since retiring, Graham has been buying, refurbishing

and selling luxury properties.

That's quite amazing.

He currently has five up for sale, including this one.

We walk out onto the terrace

and this is an amazing and a very exclusive view.

This is called the Carre d'Or area, here.

It's the Mayfair-Chelsea of Monaco.

You see the casino, the new Hotel de Paris

and also, I haven't mentioned it's an amazing view of the Grand Prix.

You see them coming around the corner here. It's amazing.

This two-bedroom one that we're in now...

How much is it on sale for?

It's on the market for...

19 million, including the car parks.

The car parks here are worth a lot of money.

Is there a discount if they don't want the car park?

Yeah, they get a discount, yeah.

The car parks are worth circa 450,000 to 900,000,

depending on how big they are.

And this apartment isn't Graham's only one in the block.

He also owns the smaller flat next door and he's offering buyers

the option to create a spacious four-bed residence

if their bank balance is big enough.

If the client wants to buy the two apartments, I'm selling

those for 29.9 million, which is under 100,000 a square metre,

which is very reasonable for one of the best buildings in Monaco.

A lot of people would buy this,

they'll come here for the odd weekend.

They may not even have Monaco residency.

It's a good investment here.

You're pretty sure that property in Monaco is a pretty safe bet.

It's reasonably safe, yeah.

I mean, people are not going to lose 50% or lose their shirt

like you do on the money markets.

Have you had much...? I've had I've had a few offers, yes.

I've had offers.

But the spectacular sea views are currently being interrupted

by Monaco's biggest building site -

the new land extension project, 17 floors below.

Not that that fazes Graham.

There's going to be apartments going up to 12 storeys.

So the view from this apartment is not going to be a blocked.

Really? Are you sure about that?

I'm sure of that, yes, yes.

What about the noise? Isn't that an issue?

It's an issue anywhere. We're in Monaco, you know.

All the hard work has been done Uh-huh...

They're just going to be building up.

You're a very good salesman!

I don't like to say too much, you know!

Monaco's insatiable appetite for luxury living

is one that goes back generations.

And while Prince Albert continues his father's legacy

by investing in bricks and mortar, the demand from the country's

residents for a life rich with culture is being fulfilled

by his sister, Princess Caroline.

Caroline is the eldest child

of Prince Rainier and Princess Grace and was a keen ballet dancer

in her formative years.

Like her late mother, the princess has a passion for the arts,

becoming a patron of Monaco's orchestra and opera.

And in 1985, at the age of 28, Caroline re-established

Monaco's National Ballet Company - Les Ballets de Monte Carlo.

Today, the ballet company still performs at the Opera House,

built in 1893, next to the casino in the centre

of the Monte Carlo district.

The former dancer Jean-Christophe Maillot has been

the ballet's director and choreographer since 1992.

That's where I have my computer, I have my...

..little maquette where I can work on my new creations

so I can actually see the stage

and imagine how I'm going to organise the whole thing.

The Prince and, of course, I have my dear Princess Caroline here.

Tell me about the princess.

Oh, the princess? What can I say?

I mean, without her, the company wouldn't exist.

It's really her will, in the memory of her mother, the Princess Grace,

that she rebuild the company.

Princess Grace established a fledgling dance school

in her final years.

But it wasn't until her daughter Caroline revived it three years

after Grace's death that the ballet began to go

from strength to strength.

35 years later and the company now boast a 50-strong ensemble

of dancers and an international reputation.

I think at the beginning, when the princess...

I don't think I will hurt her if I say that,

but I think at the beginning, when she created the company,

a lot of people laughed. They didn't take that seriously -

I mean, a princess doing a ballet company?

But that was the great genius of Caroline.

She actually proved by doing the company

that she could create something.

And it's wonderful.

To ensure the ballet remains accessible to all,

government subsidies keep these ticket prices under £35,

less than half the price of equivalent tickets

at the Royal Ballet in London.

They sell out weeks in advance.

You know, it's one of the rare countries who's giving more than

5% of its budget for culture.

A lot of things that happen in Monaco are done

by the will of the princess and she really...

..she's a woman that has a very strong respect

for anybody who tries to do something artistically.

And Princess Caroline is due to be here in person

for tonight's special performance.

With the princess now in attendance,

the ballet can begin.

I think Monaco is very special, very unique.

But there is always this kind of very superficial picture

of what people know about it.

Of course, you cannot avoid it, it's a place where there is money,

where there is rich people, there is big, bold,

there is Ferraris, there is casino...

..but there is also a life.

There is also a life with people creating.

For me, it's a kind of mission to imagine that I'm a kind of

ambassadeur of the principality...

..showing the rest of the world a kind of a different idea

of what Monaco can be.

So when people see the Ballet de Monte-Carlo outside, they say,

"Oh! And they also do things like that there?

"Oh, I thought it was only rich lady with poodles walking on," you know.

And I feel very proud of that.

With the performance over, as per tradition,

Princess Caroline likes to thank the dancers backstage,

including brothers Alexis and George.

Yeah, she's about to come. She's coming just to say hello to the company.

Do you have any plans on what you'll say to her?

We don't normally say much. She just comes to...

She's coming, sorry!

Super!

Can I ask just about culture in Monaco in general.

Why is it important to you to support it?

I think it's a right, like education and health.

It's a right and people shouldn't have to pay

for that or...struggle to access culture.

Were you an enthusiastic girl? Did you drag your parents to culture?

Yes, absolutely! Yes. I would say, "You have to see this."

They didn't always adhere to it,

but sometimes there were pleasant surprises, yeah.

And it's, um... It's a tradition here

and I always like to think that tradition is the...

..transmission of fire and not worshipping of ashes.

You have to keep on fighting that way, I would think.

Yes!

I have to!

Princess Caroline's efforts to celebrate culture in all its forms

are also in evidence tonight at the Fairmont Hotel.

The annual Futurum Awards Ceremony is being held to highlight

one influential artist and by doing so, inspire more home-grown talent.

The recipient of this year's award is the internationally renowned

sculptor Anish Kapoor.

We are in one of the most beautiful places in the world

and the Cote d'Azur is famous

for being so inspirational to great artists from through the centuries.

Kapoor's sculpture, Sky Mirror, currently has pride of place

outside Monte Carlo Casino.

The artist's relationship with Monaco stretches back to his youth.

My father was a hydrographer,

so ocean mapmaking, and it used to,

I think, still does, the headquarters

of ocean mapmaking worldwide is here in Monaco.

So I came here often as an art student and onward.

Monaco was a very different kind of place.

It was retiring, quiet...

..and then money arrived and something happened here.

I mean, something big time happened here, frankly.

In a place that's so much about money...

..you know, art becomes yet another commodity.

And I think as artists, we have to be wary of how you can

both be radical and be in the market. It can't be for sale

if it's radical. I mean, so, these things are complicated.

Can anything in Monaco be radical?

Probably not. Probably not.

The award is being presented by Prince Albert, who,

unusually for him, is running slightly behind schedule.

Sorry I'm a little late, I had to go say hello to my kids

Good plan. ..since yesterday.

May I ask you to grant the Futurum Award of 2019 to Sir Anish Kapoor?

Although he's being honoured tonight,

Kapoor hasn't always received such a warm welcome.

Do you know, my parents lived here many, many, many years ago...

..when I was a long-haired...

..hippie-ish...

..art student.

And, you know, I'd come to Monaco often...

..and I was always stopped by the police.

"What are you doing here?" That happened a lot!

But, you know, it's strange, therefore, to come back to...

..to be honoured in this way.

Monaco does lots of things, but I feel it's very, very important

that it does culture, that culture, in a way...

..brings citizenship.

It brings belonging.

On that, please forgive me and thank you.

Another day and another prestigious event in Monaco's packed

social calendar.

At the Sporting Club,

preparations are under way for the country's biggest charity

function of the year.

Since 1948, the Red Cross Ball

has raised substantial funds for the humanitarian organisation.

Over the decades, the ball has attracted Hollywood guests

like Michael Caine and Elizabeth Taylor,

as well as hosting performances

from the likes of Frank Sinatra and Elton John.

Tonight's annual gala is the most desirable ticket in town.

It's a very significant event.

It's the number one fundraiser

for the Monaco Red Cross.

It has become, of course,

a major feature on the international scene,

and it is a very prominent event for the social life in Monaco.

But pulling off landmark events like these

takes a small army of staff to achieve.

Tonight, we need to prepare very quickly and fast.

The different dish and desserts are why we need a big kitchen.

Tonight, supervising chef Ken and his team

are preparing a three-course meal for 850 guests,

but before the guests are seated, they'll be offered barbagiuan,

a traditional thin pastry which is filled and deep-fried.

This is from Monaco

and we do it only in Monaco.

Now we put the garnish.

What is the garnish?

Chard. Ah.

And then we close it.

Look, we close with the finger and we cut one by one.

The barbagiuan, we cannot do with a machine.

It's not possible. Only handmade.

This is a very important recipe for us.

Because it's Monegasque? Yes. Yes.

The team will need to produce 3,000

of these Monegasque delicacies before tonight's event.

Next, it's on to dessert.

So, let me introduce the head pastry chef.

Bonjour.

It's very beautiful, refreshing,

delicate.

Good job, Tim.

In two hours' time, a who's who of Monaco society will be walking

through the doors and for the staff, there is no room for mistakes.

Tickets for the black tie event are more than £1,000 a head,

but drinks cost extra.

Tonight's wine list, we have 46 choices.

46? That's quite big.

Yes. It's quite big for so many people.

Burgundy wine, noir Alsace,

champagne, some classic Dom Perignon,

but we have also Larmandier Bernier.

It's the choice of the Prince. He's chosen that champagne?

Yes. Larmandier Bernier tonight.

The prince doesn't pay for his drinks, I hope.

Of course he pays. A-ha.

He pays.

How does it work in terms of the prices?

We have minimum price tonight of 370 euro.

That's the less expensive.

The most expensive would be Chateau Cheval Blanc 1,900 euro.

On the general wine list

normally this is not the price,

but we do that because we know one part of the receipt

goes to the Red Cross.

Might I ask what percentage of that?

I can't tell!

I know that but I can't tell!

Not that money is necessarily a concern for those arriving,

with a guest list that includes big names from the world of sport,

fashion and music.

As tonight's attendees settle in for their glamorous evening,

in the kitchen it's the moment of reckoning

for supervising chef Ken and his team.

It's now or never. It's a big rush and it's very important

to keep the pressure.

I need to respect all of the plate

because maybe one plate is for the prince.

So, it's random, we don't know,

so that's why we need to keep the quantity for all of the plates.

Upstairs, Prince Albert has just arrived with his wife,

Princess Charlene.

As the royal party take their seats,

140 staff are working flat out to ensure that dinner service

goes without a hitch.

Busy, busy! Busy!

Job is done, job is done!

As the party moves to the dance floor and celebrities rub shoulders

with the royals, the Red Cross ball cements its reputation

as the place to be seen in society circles.

Ticket sales, fine wine and a top-tier auction

raised around half a million pounds for the charity,

ensuring that, in its 71st year,

the ball still goes off with a bang.

Whether it's grand celebrations or ambitious expansion plans,

for a small state, Monaco has a long track record of thinking big.

And today, at the land extension,

work has already begun on filling in the newly formed basin,

setting the stage for the construction

of the new luxury villas.

This morning, the project's progress is being inspected

by government official Jean-Luc and site manager Christophe.

Is he a demanding inspector?

Certainly, and he's right, because we need some challenge each time.

Yeah. We had very demanding goals.

Work should commence on the first of the buildings this year,

but creating the land to build them on is an operation that requires

vast amounts of natural resources.

We've completed this whole belt of caissons,

so we've created the first artificial lake of Monaco,

but you have to have a duty to fill it.

This ship is taking some kind of rough sand

to fill up this section, to create the reclamation.

Each ship is taking in between 20-25,000 tonnes.

In total we have about 750,000 tonnes.

The project is a costly undertaking, but it's not the government

who are forking out.

A private company's paying for use of the seabed

and footing the 2 billion euros construction bill,

which they will eventually profit on

by selling the 110 new properties.

The average is about 400 square metres,

and ten large individual houses

directly near the sea.

They go from 1,000 square metres

to 1,500 square metres.

Monaco is set to cash in from these elite properties, too,

with considerable revenues generated from stamp duty and VAT.

Can I ask what's the price they will sell for?

I don't know, really, the price

because usually we use a ratio

per square metre,

but when you reach this kind of product,

they are so exceptional that

there will only be ten buyers in the world.

Yeah.

Maybe it could be more than 100 million euros per villa

for the largest one.

With such an eye-watering price tag,

when building work is completed in five years' time,

Monaco seems set to welcome another new wave of billionaires.

There is always this very superficial picture

that we're all swimming in the caviar all day long,

but you can see the most annoying rich people

and the most wonderful rich people,

and also very simple people that somehow live together

and it works.

It's a place with many opportunities

and so many nationalities.

It's a whole, like, minestrone, how you say?

A vegetable soup, you know, put it all together,

makes a wonderful place.

It's a fantastic place for a holiday, but maybe not to live.