Paris, Amsterdam, 2015-9-11 — /EPR Retail News/ — Unibail-Rodamco announces it has signed an agreement with the EPADESA (The Public Development Authority La Défense Seine Arche) for the development of an alternative project on the site of the Phare Tower in La Défense district (Paris region). A partnership has been entered into between the Group and the EPADESA for the design of an ambitious 95,000 sqm mixed program, with approximately 75,000 sqm of offices and 20,000 sqm dedicated to a hotel offer, including services accessible to the public.
This new project, culminating at 200 meters, represents a total investment cost of circa €630 Mn.
The partnership aims to file a building permit application in H-1 2016. The Phare project is maintained until this new program has obtained all final authorizations.
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About Unibail-Rodamco Created in 1968, Unibail-Rodamco SE is Europe’s largest listed commercial property company, with a presence in 12 EU countries, and a portfolio of assets valued at €35.7 billion as of June 30, 2015. As an integrated operator, investor and developer, the Group aims to cover the whole of the real estate value creation chain. With the support of its 2,085 professionals, Unibail-Rodamco applies those skills to highly specialised market segments such as large shopping centres in major European cities and large offices and convention & exhibition centres in the Paris region. The Group distinguishes itself through its focus on the highest architectural, city planning and environmental standards. Its long term approach and sustainable vision focuses on the development or redevelopment of outstanding places to shop, work and relax. Its commitment to environmental, economic and social sustainability has been recognised by inclusion in the DJSI (World and Europe), FTSE4Good and STOXX Global ESG Leaders indexes. The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It benefits from an A rating from Standard & Poor’s and Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com