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La Défense, France’s Corporate Hub Set for Major Modernisation Push

Primexis Insights
15 September 2016
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The Parisian business centre “La Défense”, 1st European business district, is currently modernising and being developed as part of the project “Grand Paris”.

The “Grand Paris” project is a development project for France’s Ile-de-France region. The project aims to transform the greater Paris area into an international global city by extending the transport network (“Grand Paris Express” – see map below), better zoning for offices and housing needs. And as of January 1, 2016 a new public organizational structure “Métropole du Grand Paris” was created to oversee these changes.

The Parisian business district La Défense (see below) – where Primexis is located – is at the heart of this ambitious project. This decision-making centre for French, European and International companies represents:

  • 160 000 employees of which 33 100 employees work for foreign companies;
  • 400 companies, 170 of which are foreign companies (40% North-American, 35% European-EU);
  • 3.4 million m² of office space (in 2014, 90% of the investments were by foreign investors) and 250 000 m² of retail services;
  • 42 000 students (excellent Universities Dauphine, Paris X, ESSEC…);
  • Around 8.4 million visitors (mainly business tourism).

Major works under construction:

  1. Nanterre Arena: the biggest sport/shows indoor hall in France (end of 2016);
  2. La Défense will be served by EOLE – the prolongation of RER E – Regional Transport Network (2020);
  3. Two new stations for the new metro line 15 (2027) and a better connection to Roissy-CDG and Le Bourget (via line 16) and Orly (via la line 14) airports;
  4. Transformation of the circular boulevard around the business district;
  5. Construction of 300 000 m² new towers for office space: Carpe Diem (2013), Majunga (2014), Saint Gobain (2019) and Hermitage Plaza (2021). Primexis

The « Grand Paris » project, will result in the construction of 200 km of new subway routes (see map below). Lines 11 and 14 will be prolonged, the new line 15 – a Paris “ring road” – will be built and lines 16 and 17 will serve the periphery of Paris via an automatic metro.

These metros of “Grand Paris Express” will offer a high quality service: accessibility for handicapped passengers, an energy recovery system, and above all, an operating speed of 55 to 65 km/h (compared to current Paris metros: less than 30 km/h).

Around the new metro stations, many other projects are being implemented : the urban train shuttle SOGARIS (2017), the Paris Regional Court (2017), the Scientific Campus Paris-Saclay (2017-2021), theSeine Metropole Port (2019), le Data centre – Val d’Europe (2020), Europa city (2022) and the New Roland Garros (20xx).

Primexis, an independent Consulting and Accounting firm assisting French and International companies, groups and subsidiaries, made the strategic choice to establish itself in the La Défense business district (Tower Opus 12), more than 8 years ago.

Stefan Petrovski
qualified Chartered Accountant
International Business Services

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