The distribution giant Carrefour will join the promoter Nexity to “carry out urban diversity operations” in 76 sites throughout France, “transformation” projects that “affect all formats of Carrefour stores” and must allow, in particular , housing creation, according to a joint press release on Thursday. This association should allow the two companies to “develop mixed programs” that accommodate homes, service residences, shops, offices or hotels.
Forty sites in the heart of the city will be “completely rehabilitated, with the reintegration of a commercial food area.” The other 36, “at the entrance to towns or commercial areas, refer to existing parking spaces, which will be reallocated to urban projects.” According to the press release of the two entities, the 76 sites represent “approximately 800,000 m2 and their development should allow the creation of 12,000 homes, 120,000 m2 of commerce, including the reconstitution of some stores”, but still 10,000 m2 of offices and activities and 17,000 m2 of hotel business”. They specify that “the land ownership vehicle, whose creation is scheduled for the first quarter of 2024 at the latest, will be 80% owned by Carrefour and 20% by Nexity.
“Full value extraction of real estate and assets” for Carrefour
During the presentation of his 2026 strategic plan for Carrefour in November 2022, the CEO of the group Alexandre Bompard announced “the launch of 100 urban mix operations by 2026 in France, through the creation of 25,000 housing units, but also spaces for recreation and offices. “Our real estate heritage places us at the center of the urban fabric”, he has estimated, judging that we have “a real role as promoter of the land”.
In this Thursday’s press release, the group’s CEO explains that this program should allow his company to “get all the value out of [son] housing stock and [ses] assets, to recreate a richer and more dynamic urban fabric around [ses] commercial areas”. This should also allow “to make the most of our footprint and limit the artificialization of land”, he adds.
Source: BFM TV
