AXA Real Estate Investment Managers has started construction of the first phase of a new 86,000m² office development in Paris, France.
Situated in Balard, Paris innercity, the project is adjacent to the new 340,000m² headquarters of the French Ministry of Defence, which is currently under construction.
Upon completion in 2015, the development will accommodate about 9,300 people.
Designed by Wilmotte & Associés, the project will feature four office buildings to be constructed in two phases.
The first phase of the project will feature two buildings of 20,000m² and 26,000m² of rentable area, each to be located over eight floors.
Phase one will also have space for 375 car parking spaces and the buildings will have the capacity to house about 4,100 people.
The second phase of the project will feature an additional 40,000m² of space and 325 further car parking spaces.
After completion, the project will feature 1.3ha of new gardens linked to the Sarrabezolles Square.
Work on the second phase is anticipated to start in 2015.
Sustainable features of the project include minimising energy consumption and other initiatives like rain water harvesting and solar heating / power use.
AXA Real Estate global head of development Jean-Manuel Rossi said the project provides the company with a unique opportunity to construct an office campus in a well-established area of Paris.
"With its surrounding park space and proximity to the River Seine, this exceptional workspace will provide occupiers with a highly desirable alternative to the Central Business District of Paris given its location and the high profile of the public transport serving the property," Rossi said.