French REIT Gecina and local developer Woodeum have signed an agreement to develop 1,000 low-carbon, timber-frame housing units over four years in the Paris Region and major cities across France.
Under the agreement, the two groups will jointly develop projects with Woodeum holding 60% of the partnership and Gecina the remaining 40%.
The developed buildings will be acquired by Gecina’s residential subsidiary, which is now called Homya, and let under Gecina’s YouFirst Residence brand.
Méka Brunel, Gecina’s Chief Executive Officer said: ‘Following a first innovative partnership with a leading developer, this new partnership with Woodeum confirms Gecina’s commitment to responding to the aspirations of middle-class households to live in environmentally-virtuous homes, close to their workplace and with all the facilities needed for a sustainable and balanced lifestyle.’
Philippe Zivkovic, Woodeum-WO2 Group co-founder and Chairman added: ‘With French environmental regulation RE2020 starting to be rolled out, and faced with the climate emergency, this partnership will enable Woodeum to ramp up its production of Low-Carbon Timber buildings nationwide, guided by a shared commitment with Gecina to create high architectural quality buildings, offering a unique quality of life for their future residents.’
