URW inaugurates the final phase of Les Ateliers Gaîté for mixed use

Paris, Amsterdam, October 19, 2022

Press release

The URW inaugurates the final phase of Les Ateliers Happiness mixed-use district in Paris

Unibail-Rodamco-Westfield (“URW”) today announces the full opening of Workshops GeorgiattThis in the Montparnasse neighborhood of Paris.

Designed by the famous architect fault of maas and his study of architecture and urbanism MVRDV, Les Ateliers Gaîté is a mixed-use sustainable redevelopment that integrates residences, offices and a hotel along with new community-oriented amenities and retail. The project integrates the revived district with the local community, creating better connectivity with the surrounding neighborhood while acting as a catalyst for the broader regeneration of Montparnasse.

Commenting on the opening, Juan & Maria they grindExecutive Director, said: “Les Ateliers Gaîté demonstrates our commitment to partnering with cities on major regeneration projects that meet the changing needs of an urban society. We are working closely with the City of Paris to create a vibrant, people-focused mixed-use destination that makes a practical contribution to the lives of residents, workers and visitors in the Montparnasse neighborhood.”

As part of the larger Les Ateliers Gaîté project, URW has already successfully delivered the refurbishment of the 52,000 m2 Pullman Montparnasse hotel, operated by Accorin the second half of 2021, and a 13,000 m² office project in the first half of 2022, fully leased to the Accor Group coworking operator Wow.

The final part of the project, a three-story 28,800-square-meter shopping and lifestyle destination, has now opened to the public. It is more than 90% rentable and incorporates services that meet the needs of local residents and workers, as well as a wide range of dining and entertainment options, including the first Food Society food hall in Paris with 15 kiosks and 3 bars . The development also incorporates 62 social housing units that will be owned by the Paris City Council and triples the area dedicated to public services, including a new municipal library and a nursery.

See also  From Simple Life Star to NFT Artist: Inside Paris Hilton's Surprising Career

In line with URW’s Better Places 2030 sustainability strategy, the redevelopment of Les Ateliers Gaîté offers a 40% reduction in energy used for heating, resulting in 880 tons of CO2 emissions avoided each year. This is achieved through highly efficient new buildings and innovations including an energy transfer loop that recovers more than 50% of the waste heat emitted by the shopping center, which can then be reused to heat the hotel.

For more information, contact:
Investor Relations

Audrey Arnoux
+33 6 61 27 07 39
[email protected]

media relations
Cornelia Schnepf–Finelk
+44 7387 108 998

Nathalie Feld – Image7
+33 6 30 47 18 37
[email protected]

Molly Morse – Kekst CNC
+1 212 521 4826
[email protected]

About Unibail-Rodamco-Westfield

Unibail-Rodamco-Westfield owns, develops and operates high-quality, sustainable real estate assets in the most dynamic cities in Europe and the United States.

The Group operates 80 shopping centers in 12 countries, including 45 that carry the iconic Westfield brand. These hubs attract more than 800 million visits a year and provide a unique platform for retailers and brands to connect with consumers. URW also has a high-quality office portfolio, 10 convention and exhibition centers in Paris, and a €3 billion pipeline of development projects, primarily mixed-use assets. Currently, its portfolio of €55,000 M is distributed 87% in retail, 6% in offices, 5% in convention and exhibition venues and 2% in services (as of June 30, 2022).

URW is a committed partner to major cities in urban regeneration projects, both through mixed-use development and building retrofits to industry-leading sustainability standards. These commitments are reinforced by the Group’s Better Places 2030 agenda, which strives to generate a positive environmental, social and economic impact in the cities and communities where URW operates.

See also  These 3 Dividend ETFs Are Retirees' Best Friends | personal finance

URW’s stapled shares are listed on Euronext Amsterdam and Euronext Paris (Ticker: URW), with a secondary listing in Australia via Chess Depositary Interests. The Group benefits from a BBB+ rating from Standard & Poor’s and a Baa2 rating from Moody’s.

For more information please visit www.urw.com

URW inaugurates the final phase of Les Ateliers Gaîté for mixed use Unibail Rodamco Westfield SE