Hermitage, the French property arm of Russian group Stroimontage, reached an agreement on Wednesday with an undisclosed pool of banks for the financing of the Hermitage Plaza tower project located at La Défense business district in Paris. A Hermitage spokesperson would not reveal the amount of the financing, but the development of the scheme will involve an investment of over EUR 2 bn.
Hermitage, the French property arm of Russian group Stroimontage, reached an agreement on Wednesday with an undisclosed pool of banks for the financing of the Hermitage Plaza tower project located at La Défense business district in Paris. A Hermitage spokesperson would not reveal the amount of the financing, but the development of the scheme will involve an investment of over EUR 2 bn.
The Norman Foster-designed project was unveiled during a ceremony at Mipim on Wednesday. At 323 metres, Hermitage Plaza will be one metre taller than the Eiffel Tower, making it the highest multi-purpose building ever built in Western Europe. Hermitage said the tower aims to become the first European property with a BREEAM excellent certification.
The development will comprise two towers: the first will have 91 floors and house a five-star hotel, a spa and luxury apartments, while the second will have 93 floors and accommodate offices and serviced apartments. Construction work is expected to start in 2010, with completion due for 2014.
