Monaco's sensational position on a broad, steep peninsula that bulges into the Mediterranean continues to draw the rich and famous; its harbor sparkles with mega-yachts, and its posh properties are angled toward the nearly perpetual sun. With it’s world-famous casino, luxury hotels and numerous beaches, gardens and museums. Perched on a rock, the old town may sometimes seem of another age, but there is nowhere more modern and innovative when it comes to land management - it has reclaimed 25% of its territory from the sea and always has new development projects.