Bail Investissement and Unibail have announced their partnership on two shopping centers: Rennes-Alma in the South of Rennes and the Usine Center in Vélizy-Villacoublay in Paris Western outskirts. They will pool their resources through dedicated companies which will hold their ownership interests, ie. 49% and 51% respectively. Until now, both these assets were wholly owned by Bail Investissement.
This partnership should ensure the smooth running of the extension project at Rennes-Alma and the refurbishment project at the Usine Center in Vélizy-Villacoublay.
Unibail will now be responsible for managing both centres and overseeing their respective development projects.