Engie: Icade and others to buy sites to develop

(CercleFinance.com) - Icade Promotion, Brownfields and Aire Nouvelle, Equans France's low-carbon real estate development subsidiary, have announced that they are acquiring 70 sites in mainland France, epresenting 45 hectares of land from Engie.


These sites are intended to be converted into housing, offices, businesses and shops after rehabilitation. The three partners, who are involved in equal proportions, wish to clean up pollution and develop new neighbourhoods, while regenerating biodiversity.

They plan to offer mixed real estate programs on these sites, which will include housing, service residences (senior residences, co-living, etc.), offices as well as shops and business premises.

Over 200,000 m² of floor space, including more than 100,000 m² of housing, will be created by 2027, representing total surface area of 1.5 million square metres.



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