FdR builds 49,000-m[sup]2[/sup] campus for Thales

Foncière des Régions has announced plans to develop a 49,000-m² office campus for Thales in Vélizy-Villacoublay near Paris.

'The campus represents the natural progression of a partnership begun in 2003,' the company said in a statement. The property will be leased to Thales under a nine-year contract following completion in mid-2014.

The project represents an investment of EUR 192 mln, including a EUR 110 mln six-year financing agreement with two German banks.

'The campus project, dubbed New Vélizy, reflects the success of the real-estate partnership model embraced by Foncière des Régions, which focuses on developing new buildings for major companies based on long-term leasing contracts in flourishing office property markets,' said Christophe Kullmann, Chief Executive Officer of Foncière des Régions.

Designed by Di Fiore Architecture & Associés, the campus comprises three buildings and a range of services including restaurants, business centre, gym, showroom, concierge service and modular auditorium seating 400 people.