Societe de la Tour Eiffel (STE) is investing about EUR 16 mln in the development of two sites across France. At Le Bourget Airport, 12 km northeast of Paris, the French property company has acquired a two-hectare site and will develop with Nexity Geprim 10,000 m[sup]2[/sup] of offices and business space on the site. Delivery is due in the first quarter of 2008. The investment value comes to EUR 8.4 mln and the estimated rental value is EUR 920,000.

Societe de la Tour Eiffel (STE) is investing about EUR 16 mln in the development of two sites across France. At Le Bourget Airport, 12 km northeast of Paris, the French property company has acquired a two-hectare site and will develop with Nexity Geprim 10,000 m2 of offices and business space on the site. Delivery is due in the first quarter of 2008. The investment value comes to EUR 8.4 mln and the estimated rental value is EUR 920,000.

In Bordeaux, adjacent to the Merignac Airport, STE will expand its Cadera Nord Park with 6,000 m2 of new business space. Nexity Geprim will develop the site for a total investment of EUR 7.5 mln.

STE is a SIIC quoted on the Euronext Exchange in Paris. It owns eight business parks throughout France situated in Lille, Orsay Université, Nantes et Lyon as well as in Strasbourg, Aix, Montpellier and Bordeaux. The total floor space is 310,000 m2 with a potential for further development of some 70,000 m2.