Unibail-Rodamco-Westfield: partners with AXA IM Alts to develop Triangle Tower project in Paris
Paris, Amsterdam, November 1, 2021
Press release
Unibail-Rodamco-Westfield partners with AXA IM Alts to develop Triangle Tower project in Paris
Unibail-Rodamco-Westfield (URW) announced today the signing of a co-investment partnership with AXA IM Alts, a global leader in alternative investments acting on behalf of clients, for the Triangle Tower, a major new development in Paris.
Designed by Jacques Herzog and Pierre de Meuron, winners of the prestigious Pritzker Prize, the Triangle Tower creates a significant, lively urban space for Parisians, linking to the city of Issy-les-Moulineaux, and contributing to the creation of a new destination within the metropolitan region by combining office space with amenities including a conference centre, street level shopping, restaurants and a hotel.
Jean-Marie Tritant, Chief Executive Officer, Unibail-Rodamco-Westfield, said: “We are pleased to welcome AXA IM Alts as partner on the Triangle Tower project as we create a new destination within Greater Paris as part of URW's ongoing commitment to enhance the city with quality developments. URW’s unique and recognized expertise allows us to create attractive, future-focused sustainable mixed-use projects.”
Isabelle Scemama, Global Head of AXA IM Alts, and CEO AXA IM Real Assets, said: “The Triangle Tower project is a flagship project for the city of Paris and its region. It has been designed as a particularly innovative location and will benefit from the best environmental certifications, notably in terms of energy efficiency and carbon footprint. We are proud to be associated today with this unique and emblematic project alongside URW.”
Jacques Herzog and Pierre de Meuron, Architects on the project said: “We designed Triangle for Paris and Parisians. What we want to achieve most with this building is that it should be open to everyone and include the entire community.”
The Triangle Tower will offer area residents new community benefits including childcare and health facilities and a cultural centre while providing occupants with versatile spaces that accommodate new ways of working together. The design of its structure and façade allows it to accommodate a wide range of uses, offering the flexibility to adapt or even to change uses in the future.
The project incorporates the highest environmental construction standards targeting HQE Exceptional and BREEAM minimum Excellent certifications while offering best in class conventional energy consumption and a carbon emissions trajectory in line with the Paris climate agreement objectives.
Initial works are due to begin by the end of the year, with an expected opening in 2026. Construction is expected to create more than 5,000 direct and indirect jobs within the community.
For further information, please contact:
Investor Relations
Samuel Warwood
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Media Relations
Pauline Duclos-Lenoir
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Cornelia Schnepf – FinElk
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About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship Destinations, with a portfolio valued at €55.0 Bn as at June 30, 2021, of which 86% in retail, 7% in offices, 5% in convention & exhibition venues and 2% in services. Currently, the Group owns and operates 85 shopping centres, including 53 Flagships in the most dynamic cities in Europe and the United States. Present on two continents and in 12 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events and offers an exceptional and constantly renewed experience for customers.
With the support of its 2,900 professionals and an unparalleled track-record and know-how, Unibail-Rodamco-Westfield is ideally positioned to generate superior value and develop world-class projects.
Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, that sets its ambition to create better places that respect the highest environmental standards and contribute to better cities.
Unibail-Rodamco-Westfield stapled shares are listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from a BBB+ rating from Standard & Poor’s and from a Baa2 rating from Moody’s.
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