Press releases

 

07 March 2012

MIPIM Newsletter - March 7 2012

Interview

Barbara Koreniouguine, Executive Chairman of Propert Development at BNP Paribas Real Estate

 

What kind of a year was 2011 in the sector of corporate real estate and, in your opinion, what is the outlook for 2012?

In the field of Corporate Real Estate Development, 2011 offered attractive commercial growth opportunities, with a business volume of €851 million (+78% vs. 2010). The year 2012 looks promising as well, with 250,000 sq m of office space, either pre-sold or pre-leased, scheduled to be built both in France and abroad. This record level of activity represents a significant bump compared to the 100,000-sq m annual average over the last ten years. Among the high-profile projects breaking ground in 2012, let's cite Citylights (renovation of the Sèvres Bridge towers) in Boulogne-Billancourt, featuring some 80,000 sq m of office space, the MacDonald/Calberson project adding 28,000 sq m of space in Paris' 19th district and King's Cross in London with another 40,000 sq m of offices.

Has Residential activity followed the same trend?

The Residential sector accounted for a turnover of nearly €135 million in 2011 (+22% over 2010). Development projects have been on the rise in France, with 2,630 units under construction and another 2,600 completed units that came online during 2011. We also launched the real estate development business in Italy, spearheaded by a 100-unit programme in Milan scheduled for completion by the end of 2013, along with 3 upcoming projects in Rome. Notarised transactions have totalled €826 million. In 2011, the sale of new housing units generated €736 million, from 2,535 reservations received.

 

"Le 19“ residence developed by BNP Paribas' Residential Real Estate, has been nominated in the "Best residential development” category at the 2012 MIPIM Awards". Inaugurated in November, this project is one of the three residential buildings located in the Claude Bernard mixed development zone and one of the first ecodistricts in the city of Paris (19th district). Its originality lies in a mixed-use concept, in conjunction with: a senior care facility, 28 units intended for first-time homebuyers, and two retail shops. This project, which encompasses more than 8,700 sq m of space, has already earned the EEB (Energy Efficient Building) and "Habitat & Environment“ (Housing and Environment) labels; also, it has been fitted with solar panels which supply 15% of all hot water needs on the premises. The award ceremony will take place on March 8th, 7:30 pm at the Festival Palace.

 

BNP Paribas Real Estate Italy recently completed construction of a new office building, called "Crespi 26" in Milan. This development, assigned an "A" energy rating, is the first in Italy to be awarded the "HQE" certification. It comprises a total floor area of 7,500 sq m, split over 4 stories, with 218 parking spaces. The new building was constructed only after demolishing a previous office complex occupied by BNL (subsidiary held by the BNP Paribas Group). BNP Paribas Real Estate Italy supervised the entire effort to revitalise this space, beginning with the land purchase and then the tasks of planning, construction and leasing the building space. Around mid-January, BNP Paribas Real Estate Italy signed a lease for all of the building space with an international luxury firm, Richemont, interested in locating its Italian head office.

 

A KEY NUMBER : 77,500 sq m : Such is the surface area of the parcel sold near Barcelona by the Spanish Transaction team for construction of a logistics platform to serve the food services group Miquel Alimentaciò.

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