French property group Icade said it has entered into exclusive talks with Veolia Environnement regarding the potential development of a new 100,000 m2 complex which will house the future Paris office of the group in the Millénaire district of Paris. A decision is expected to be made in early 2012.

The new scheme will accommodate the company staff of 3,000-4,000 and will be developed according to the latest energy-efficiency and sustainability standards.

The announcement comes hard on the heels of the opening last week of the EUR 400 mln Millénaire shopping centre at Porte d’Aubervilliers, just outside the Paris ring road. The project, representing a partnership of Icade and Klépierre, offers 140 stores across 56,000 m2 of retail accommodation, around 17,000 m2 of office facilities as well as 2,800 parking spaces.

Le Millenaire - the largest retail development project in France undertaken in the past 10 years - is part of the Grand Paris urban renewal project spreading over five hectares. It is expected to attract up to 14 million visitors per year.