Unibail-Rodamco, Europe's largest listed real estate company, aims to develop retail greenfield projects, Chief Operating Officer Michel Dessolain said in an interview with PropertyEU at the Mapic retail fair in Cannes. Current new retail project represent a pipeline of 1.1 mln m[sup]2[/sup] including expansions and new developments, Dessolain added.

Unibail-Rodamco, Europe's largest listed real estate company, aims to develop retail greenfield projects, Chief Operating Officer Michel Dessolain said in an interview with PropertyEU at the Mapic retail fair in Cannes. Current new retail project represent a pipeline of 1.1 mln m2 including expansions and new developments, Dessolain added.

Dessolain sees the retail development expanding in due course into a single European division with activities in a large number of European cities. Friday's edition of PropertyEU newsletter incorrectly reported that the new division would be set up next month. Unibail-Rodamco is targeting double-digit ROI for new developments, Dessolain said. Projects are still to be identified in France, Spain, Sweden and Central Europe. The Netherlands are also being studied.

Unibail-Rodamco has a portfolio of 95 shopping malls with a book value of EUR 24 bn, making it the largest retail developer-investor in Europe and the second largest in the world.