Unibail-Rodamco reaches agreement with EPADESA regarding the Phare Tower (NL)

On December 10, 2010, the Board of Directors of EPADESA approved the technical and financial terms of the agreement towards the finalization of the project with investor Unibail-Rodamco for the construction of the Phare office tower in La Défense.

In 2006 Unibail-Rodamco entrusted Project Phare to the American architect Thom Mayne for the realization of an iconic 300-meter high tower, an architectural symbol of the renewal of the La Défense business.

In the heart of the La Défense business district between the Grande Arche and the CNIT, the Phare Tower is one of the most ambitious Group projects both architecturally and in terms of environmental standards. The Project aims to reinvent the traditional concept of an office tower and to create a real link between the La Défense square and the Faubourg de l'Arche area in Courbevoie city. The total investment cost before financial expenses is expected to be approximately €900 million.

Project Phare expected to be delivered in 2016 will reinforce the Unibail-Rodamco Group's historical presence in La Défense which began with Project Coeur Défense and is today represented by the Group's ownership of the shopping centre les Quatre Temps, the CNIT complex as well as the Majunga Tower (anticipated delivery end 2013).

Guillaume Poitrinal, CEO and Chairman of the Unibail-Rodamco Management Board states: "Both in terms of its outstanding economic or environmental contribution and its immeasurable height, the Phare Tower will mark a new phase in the infrastructural landscape of the Île-de-France region. A real city within a city, it offers employees and visitors a level of comfort, design and services never seen before in the heart of a major architectural feature."

Source: Unibail-Rodamco

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