MAB/Bouwfonds joint venture Domus home mall in Paris

MAB and Bouwfonds Property Finance have set up a joint venture for the development, financing and realisation of the “Domus” home theme centre in Rosny-sous-Bois, France. The cooperation agreement to this effect was signed today in Hoevelaken by Marc Vaquier, Director of MAB S.A. in Paris, and L.H. Pijper, General Manager of Bouwfonds Property Finance BV.

Domus in Rosny-sous-Bois, one of Paris’s largest suburbs, will comprise 62,000 m2 of retail space and leisure facilities as well as 2,500 parking spaces. The development is inspired by the similar-sized Alexandrium in Rotterdam, the world’s most successful home mall concept.

Domus will be located opposite the existing Rosny II shopping centre. Aimed at the middle and higher market segments, it will become the first upmarket home mall in the vicinity of the French capital, close to the intersection of the A3 and A86 motorways. The site is 10 km from the Paris city centre and 20 km from Charles de Gaulle international airport.

The Paris-based architecture firm Myard/Raoult Partner Architects is responsible for the design. Construction of the complex is due to start late this year; completion is scheduled for late 2004 / early 2005.

The development and realisation of the Domus home mall involves an investment of nearly EUR 135.8 million.

MAB and Bouwfonds Property Finance joint ventures

In recent years MAB and Bouwfonds Property Finance have successfully worked together on a number of joint ventures, including the Resident development in The Hague, Stadshart Amstelveen and Oosterdokseiland in Amsterdam.

In the case of Domus, MAB will again be responsible for development, realisation and lease arrangements. Bouwfonds Property Finance will act as the financier.

MAB is an independent, all-service property company with branches in the Netherlands, Germany, France, Britain and Belgium. The firm is active, on its own account and risk, in the development, management, purchase and sale of property. Since its foundation in 1970, MAB has been a specialist in the development of large-scale planning processes, generally in complex city centre locations.

Bouwfonds Property Finance is an operating company of ABN AMRO Bouwfonds Nederlandse Gemeenten N.V., which operates in three segments of the property market: development, management and financing.

Bouwfonds Property Finance is an organisation in which extensive knowledge of the property market is seamlessly linked to specialist knowledge of customised financial solutions - fast, dynamic and professional.

Source: MAB

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