Insurance groups Aviva France and Predica are teaming up to develop the Carpe Diem office tower project at Paris' La Defense business district. In a joint statement on Monday, Aviva France, part of the UK-based Aviva insurance group, and Predica, a subsidiary of Crédit Agricole Assurances, said they expect to start construction work on the site in February 2010 with completion expected for the end of 2012.
The project will be the first skyscraper in France to boast both a High Quality Environmental and a LEED Gold certification. The investment will be carried out through a SCI vehicle controlled on a 50/50 basis by Aviva France and Predica.
Aviva France and its real estate investment unit Aviva Investors Real Estate France have been working on the Carpe Diem project for the past three years, and recently received the final building permit to develop the tower.
The scheme is part of a vast redevelopment plan for La Défense district launched by Epad, the public real estate management company of La Defense, in 2006.