Known as a bastion of a special, secure banking system, Switzerland will soon offer the world's rich another choice for preserving their wealth: "rock safes" carved into the lowlands of the Alps.
According to Bloomberg, the idea comes from entrepreneurs in central Switzerland, for a site about 25 miles southwest of Lucerne.
"Your treasury room in a solid rock mass," says Bruenig Mega Safe AG, the company that builds safes, on its website - is "the safe place to store your assets and sensitive data."
Such an initiative, as further appreciated comes as the rich of the world are increasingly seeking security as the pandemic has shaken the markets.
While some fear a global recession or natural disaster, others are seeking to avoid bank deposits as "negative interest rates" force lenders to hold cash.
Swiss "safes" will be from 100 cubic meters to several times larger and up to 90 meters high.
The rock walls provide a constant relative humidity of 40% and a temperature of 12 degrees Celsius (53.6 degrees Fahrenheit).
Prices start at $ 500,000 and up.
In addition to storing valuables, such as works of art, gold, stock certificates or even classic cars, they are being considered "ideal as a place for activities that must meet high security requirements," the firm said.
The project is being done in collaboration with Gasser Felstechnik AG, a company specializing in rock engineering and underground construction.
As further stated, Bruenig Mega Safe is in talks with about a dozen potential clients, including art galleries and wealthy individuals.
The owners of the "safes" are responsible for the cost of construction, while the company will provide services, security and other services.
Meanwhile customers will have access throughout the day through a tunnel large enough to accommodate trucks as well.
While the biggest interest so far has come from Swiss citizens and firms, the company has said it is also seeking to attract clients from wealth centers like Hong Kong and Singapore.
Work is scheduled to begin early next year, and the first "domes" should be available about 18 months later.
Adapted by: Star Business