Ivanhoe Cambridge has acquired Joya, an office campus totalling 50,000m² in Val de Fontenay, developed by EUROPEQUIPEMENTS and Groupe QUARTUS. The project will be delivered in 2022. The purchase price was not disclosed.
The scheme is located in the eastern business hub of Paris, close to the upcoming Grand Paris station (RER lines A and E, and later on new metro lines 1 and 15), and provides excellent connectivity to the city’s main areas. Traditionally home to back-office functions of major banking and insurance companies, over the past few years the attractiveness and diversity of this submarket have improved with the neighbourhood’s successful revitalization.
Designed by Emmanuel Combarel (ECDM architectes), Joya will feature adaptable, well-connected open spaces comprising of 6,000m² over seven floors, each easily divided in quarters for optimal fit-out flexibility.
“We are very pleased to have completed this off-market acquisition, which is perfectly in line with our long-term vision for Greater Paris,” said Karim Habra, Head of Europe and Asia-Pacific, Ivanhoe Cambridge. “As the Covid-19 crisis is impacting work and business practices, Joya is very well aligned with the future needs of office spaces in terms of occupancy costs, services, flexibility and access to technology.”
“EUROPÉQUIPEMENTS and Groupe QUARTUS are proud that Ivanhoé Cambridge has made this acquisition and placed its trust in our teams’ know-how to see this major project through to completion,” the two partner developers said. “Joya is a great example of the longstanding positive forecasts about the depth of the market in eastern Paris and Val de IVANHOECAMBRIDGE.COM 2 Fontenay, which will continue to attract large businesses looking to take advantage of this hub renowned for the quality of its road service and public transports.”