AMSTERDAM: Unibail-Rodamco-Westfield (URW) signed a co-investment partnership with AXA IM Alts, 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.