A consortium led by Eurosic is investing €190 mln to allow the start of construction on a major leisure development in Marne-la-Vallée, in the Val d'Europe area of France.

A consortium led by Eurosic is investing €190 mln to allow the start of construction on a major leisure development in Marne-la-Vallée, in the Val d'Europe area of France.

Eurosic is joining forces with savings bank Caisse des Dépôts, insurer CNP, represented by DTZ Asset Management, as well as insurer MAIF, represented by BNP Paribas REIM France to kick off the development of the first phase of Villages Nature, which involves the construction of 916 appartments as well as a 11,500 m2 amusement park dubbed Aqualagon.

Designed by Eurodisney and hotel operator Pierre & Vacances, the project is expected to be delivered in 2016.

vaste complexe aqualudique de 11 500 m² - l'un des plus grands parcs aquatiques couverts d'Europe - et son lagon extérieur chauffé à plus de 30° grâce à la géothermie.

Eurosic has a 35% interest in the project, representing an investment of €35 mln, while CNP and MAIF have a 25% and 15% stake respectively. Eurodisney and hotel operator Pierre & Vacances also have a minor interest in the project, which will be operated by a newly-created operating company with a 12-year rental agreement.

The development is being financed with debt provided by banks Natixis and CA-CIB.