A billionaire developer who has been buying up properties in Carmel-by-the-Sea, Calif., says he “cannot understand” why some of the locals are alarmed by his real estate shopping spree — as he insists that he loves the town and wants to “protect its unique history and character.”

Monaco billionaire developer Patrice Pastor set off alarm bells in the picturesque town of 3,000 people when he recently snapped up the historic La Rambla building for $7.5 million to add to his growing Carmel portfolio, which is now said to include at least 15 properties valued at more than $100 million.

But Pastor — known for having an ongoing public feud with Prince Albert II of Monaco — sought to reassure the weary Carmel-by-the-Sea inhabitants that he was not out to spoil their charming enclave.

“Naturally we can understand how someone new in town might make people nervous, especially as we prefer to keep a lower profile,” Pastor told Daily Mail. “But cannot understand why someone would be so worried about our investment in Carmel.

“We have been very clear from our first investment that we love the town, and we want to protect its unique history and character. 

“This is why we are focused on purchasing the more beautiful buildings in town like La Rambla,” the billionaire added.

Pastor, 51, broke his silence after an anonymous Carmel businessman was quoted by SF Gate as saying that people in town “are terrified” by the Monaco tycoon’s growing footprint in the town.

“We’re handing over our town to one person who’s doing what he wants to do,” the worried long-time businessman told the publication.

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