Formula 1's most iconic circuit around the streets of Monte Carlo could be altered thanks to a new development project off the coast, according to ruler Prince Albert II.

The twisty layout which passes through Casino Square and rounds the Loews hairpin among other key landmarks has largely been unaltered since the first Monaco Grand Prix in 1929 but for the configuration of the seafront chicane and the building of the Swimming Pool.

However, a new development currently under construction, which will reclaim 15 acres of land from the sea around Portier and is set for completion in 2025, could be later incorporated into the F1 circuit.

"We always look, every once in a while, at different possibilities of extending the track, and certainly something to think about is that we are building the new land extension," he said speaking with Forbes.

"There are no plans or anything yet, it is just in the back of all of our minds — people in the Automobile Club but also in the government — that there could be [changes].

"I am not saying that it will happen necessarily, but at some point, we are going to put our minds together and say, how can we not only improve this but how can we make it a little more exciting by maybe changing the course slightly?"

Quite how changing one of the most famous and challenging street circuits in the history of motorsport would be received is another matter likely to be considered, but with some also querying Monaco's place in modern F1, Prince Albert II is confident it remains the 'jewel in the crown'.

"It is such a part of the history of the sport that I can’t envisage an F1 season without the Monaco Grand Prix," he said.

"When you talk to all the partners of F1 and they tell you this is one of the venues where we don’t hesitate to bring our customers, that has got to mean something. It is unique for most people."

For this year, Monaco also welcomes its first home driver since Olivier Beretta in 1994 as Charles Leclerc will compete for Sauber.