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Report: Unibail-Rodamco's €630M Paris scheme receives green light

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Report: Unibail-Rodamco's €630M Paris scheme receives green light

Unibail-Rodamco SE's €630 million Tours Sisters project in Paris' La Défense district received the green light from the head of a public inquiry, according to Property Investor Europe.

The municipalities of Courbevoie and Puteaux led an inquiry at 2016-end and have no objections to the substance of the project, the report noted, citing Le Parisien.

The 95,000-square-meter scheme was announced in 2015, replacing the company's plans for the €900 million Phare tower on the same site, which had failed to materialize.

The Tours Sisters will comprise a 219-meter, 52-story office tower and a 121-meter, 31-story building containing a 300-room hotel. A structure including a panoramic restaurant, a business center and a spa will link a floor of the two towers.

Unibail will also file for a building permit for the project and could face legal appeals from opposing parties, the publication noted. Construction is expected to start later in the year, with the buildings scheduled to be delivered in 2021.