Category: Mipim 2013

Some 20,000 international real estate executives from 79 countries defied the inclement weather which hit travel infrastructure across northern Europe to attend what many described as the most active MIPIM since the 2008 economic downturn. With research from leading property consultants and services companies indicating that new capital is coming into the market, international cities, companies and regions used MIPIM to promote themselves to the 4,300 investors in Cannes.

“This year we featured Turkey as MIPIM’s Country of Honour and were proud to welcome Deputy Prime Minister Ali Babacan and 190 Turkish companies to Cannes,” Mipim Director Filippo Rean commented. “Istanbul is attracting incredible investment interest. The country has a young population, predicted GDP growth of 4.3% in 2013 and a fast-developing retail sector.
Since last May abolition of the law prohibiting certain foreigners real estate, Turkish real estate investment companies have ambitions to attract 10 million dollars of foreign investment per year. On the other hand, as Turkey suffered in August 2012 a terrible earthquake, the government was forced to launch a vast program of reconstruction and rehabilitation of damaged infrastructure such as roads, bridges, railway tracks, hospitals, hotels, industrial facilities, SMEs and the real estate stock in the country to build earthquake-proof buildings. Of its geographical location, Turkey occupies a strategic position between Europe, the Middle East and Asia. A hub for the global economy and the opportunities it represents. This is why many investors and foreign companies, attracted by the financial health of the country, more and more covet this dynamic territory undergoing reconstruction. Istanbul also holds for the second consecutive year the first rank for new investments and developments in Europe.

It is in this context that the 24th edition of the International Market for Real Estate Professionals held in Cannes from 12 to 15 March 2013 hosted Turkey as guest of honor and its pavilion, to incite the many visitors to discover the businesses and the flagship projects of the country. The Turkish pavilion was officially inaugurated on 13 March by the Turkish Deputy Prime Minister Ali Babacan, accompanied by the Turkish Minister of Environment and Urbanism and a large Turkish delegation.

The Turkish presence, represented by the most active real estate companies, has been articulated in a pavilion of 1,000 sqm and several booths at the Palais des Festivals. Among the many companies in attendance has been noted among others Ağaoğlu, Akbank, Akdag Tourism and Construction, Doğan Burda, Globe International, Hürriyet, İş Real Estate Investment Trust Co., Konutder, NEF, Nurol REIT, Proje Yönetim A.Ş., Proplan Project Management & Consuktancy Trd. Plc., Saf REIC, Tahincioğlu, Turkey’s Ministry of Culture and Tourism, TSKB Real Estate Appraisal Company, Vadistanbul, Vicem, Yorum, ZKLD Architectural Lighting Design & Consultancy Inc.. Zorlu Center and Istanbul. The opportunity for MIPIM participants to discover the great diversity of Turkish projects presented this year, including those competing in the category of Best Turkish project to MIPIM Awards.

The Turkish pavilion which gathered many developers and real estate companies, has been hosting a three-day rich program of conferences at which many international experts spoke. These conferences mainly concentrated on the various aspects of Turkish real estate market, its privileged position between East and Europe as well as the many opportunities offered by Turkey. These industry experts property from all backgrounds: United States, Germany, United Kingdom and Russia in particular, have enriched the content of the conference program related to Turkey by sharing their knowledge and views on this promising market. The Turkish pavilion also delighted its visitors with highly colorful folk dances.

The Minister of Environment and Urban Development Erdoğan Bayraktar also brought his views on urban renewal in Turkey and prospects of development of real estate in Turkey at a conference on March 14. Showing a great interest in the program dedicated to the Country of honor, hundreds of Turkish professionals came to MIPIM this year with the aim to share their expertise and commercial links with other participants.

www.mipim.com

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The 23rd MIPIM Awards Ceremony was held March 15, 2013 on the stage of the Grand Auditorium of the Palais des Festivals in Cannes. After a record number of submissions (over 175 projects from 46 countries), 36 finalists were selected and the the jury’s task was difficult to decide among the best international real estate projects.

The MIPIM Awards Jury, chaired by Mr. Michael Strong, Executive Chairman, EMEA, CBRE (United Kingdom), was composed of the following persons:
Dr. Thomas BEYERLE, Managing Director and Head of CS & Research, IVG Immobilien AG, Germany
Mr. Alan Collett, President, RICS, UK
Mr. Frank Khoo, Global Head of Asia, AXA Real Estate, Singapore
Mr. Hulusi BELGÜ, CEO, Multi Development Türkiye, Turkey
Mr. Philippe Chiambaretta, Architect and founder of the agency, PCA Architecture, France
Mr. Paolo Gencarelli, Head of Group Real Estate, Unicredit Group, Italy

www.mipim.com

MIPIM Awards 2013 Winners

BEST HOTEL & TOURISM RESORT

Baku Flame Towers – Baku, Azerbaijan
Architect: HOK International Ltd. – Developer: Azinko Development MMC

BEST INDUSTRIAL & LOGISTICS DEVELOPMENT

Wastewater Treatment Plant in North Alt Maresme – Pineda de Mar, Spain
Architect: Baena Casamor Arquitectes BCQ, slp – Developer: Agència Catalana de l’Aigua ACA – Generalitat de Catalunya

BEST OFFICE AND BUSINESS DEVELOPMENT

The Squaire – Frankfurt am Main, Germany
Investor/Developer: IVG Immobilien AG – Architect: JSK international

BEST REFURBISHED BUILDING

King’s Cross – London, United Kingdom
Architect: John Mcaslan + Partners – Other: Arup (Engineering), Vinci (Construction)

BEST RESIDENTIAL DEVELOPMENT

Isbjerget / The Iceberg – Aarhus, Denmark
Developer/Investor/Builder: PensionDanmark A/S – Architect: Cebra, JDS Architects, SeARCH, Louis Paillard

BEST SHOPPING CENTRE

Marmara Park – Istanbul, Turkey
Developer: ECE Projektmanagement G.m.b.H. & Co KG – Architect: ECE Projektmanagement

BEST FUTURA PROJECT

Culture Casbah – Malmö, Sweden
Property owners: MKB Fastighets AB – Architect: Lundgaard&Tranberg

BEST FUTURA MEGA PROJECT

Milaneo – Stuttgart, Germany
Developer: ECE Projektmanagemen G.m.b.H. & Co. KG, STRABAG Real Estate, Bayerische Hausbau
Architect: RKW Rhode Kellermann Wawrowski Architekture + Städtebau in cooperation with ECE architects

BEST TURKISH PROJECT

Bosphorus City – Istanbul, Turkey
Architect: Mimarlar Workshop – Developer: Sinpas Gyo

PEOPLE’S CHOICE AWARD

Akasya Acibadem Lake & Woods Parcels – Istanbul, Turkey
Architect: Mimarlar Workshop – Developer: SAF GYO

SPECIAL JURY AWARD

King’s Cross – London, United Kingdom
Architect: John Mcaslan + Partners – Other: Arup (Engineering), Vinci (Construction)

 

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For the fourth time, the Mayor of London Boris Johnson has returned to MIPIM for a flagship keynote on March 12 at the Grand Auditorium of the Palais des Festivals in Cannes. The iconic leader of the City of London outlined his vision on the development of the city and the challenges and opportunities after the Olympic Games which were held in the capital for 19 days.

During a colorful speech, Boris Johnson has challenged investors to come forward spectacular designs for the ambitious project of English floating village on a site of six hectares located on the Royal Victoria Dock, with floating homes, hotels and restaurants. Boris Johnson also announced the creation of one of the many villages of the Queen Elizabeth Olympic Park, named in honor of the Queen, which will to lend a new dimension to East London with the construction of 800 houses between the velodrome and Olympic Village. The construction of this area is scheduled for completion in July 2013. “This project is one of many opportunities that are issued by our beautiful town,” he enthused, in his speech, and when you know his strong character coupled with tremendous energy we can not doubt the success of all these beautiful projects, as both his investment and hunger for success are great.

He then detailed the the completion of the construction of the Olympic Stadium, which will actually be a large stage more in the agglomeration after Wembley (for football), Twickenham (for rugby) and Emirates (where Arsenal plays). The Olympic Park and its surroundings, located in the north-east suburbs of the British capital, has allowed, thanks to this unique event in the world, to be used by the city and state to spearhead the rehabilitation of a popular urban zone ignored by operations in recent years. Boris Johnson presented several other projects of the city, including the Project One Nine Elms, two residential towers that will occupy a prime location on the banks of London in the heart of a new set of towers in Vauxhall and Sixty London, a building project with 19,510 sqm of office space undertaken by AXA Real Estate on Holborn Viaduct, on the western edge of London. Among the major projects of the City of London, the mayor has also referred to the Earls Court Project by Capital and Counties in West London. The mayor also recalled with pride that today, London had surpassed Hong Kong with the title of “most expensive office in the world” according to a study by Cushman and Wakefield.

www.mipim.com

The Eiffel Tower Is Given a Facelift

The world-famous Eiffel Tower, symbol of Paris for 120 years, will undergo renovations in 2012 and 2013. For the third time, the Eiffel Tower will be revamped and will, after a lot of work, propose a shiny new first floor, much to the delight of the audience, who will benefit of new attractions and a monument restored and all the more beautiful.

The purpose of this rehabilitation is to make the Eiffel Tower greener, with a view to sustainable development, and more accessible to disabled people, while rebuilding the reception hall and conference rooms, restaurants and shops but also designing a new course, both playful and educational. Two creations will be added to the renovations to make the tower more attractive, but also more spectacular. The new architecture will follow the slant of the tower and will be transparent, to provide a view of the 57m separating visitors from the ground. The two buildings facing each others will be rebuilt: the Gustave Eiffel room and the Ferrié pavilion. The third pavilion, the restaurant  58, Eiffel Tower will see its facade renovated along the same choice of materials (glass and anodized aluminum) and color (red-brown) than the other two. All buildings will adopt new oblique lines, inspired by the pillars between which theyare taking place. The aim of this work is to provide visitors with new sensations through the establishment of a glass floor which will give them the feeling of walking in space, 57 meters above the ground. The works span on 4,500 sqm.
Besides the three main buildings, the redevelopment of the first floor provides for a course of interpretation, explaining, among other things, the work of Gustave Eiffel. A way to encourage visitors to walk all round the Tower, and not just the peripheral gallery. In this context, accessibility for people with reduced mobility (PRM) will be completely revised. The two levels lifts waiting area, three in number, will be protected by a new curve glass envelope.
The agency Moatti-Rivière was chosen to carry out this operation funded by the operating company of the Eiffel Tower (SETE) whose price is estimated at 25 million euros without tax. The work will begin in spring 2012 for a period of 18 months.

www.tour-eiffel.fr

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A New Grand Stadium For Rugby in Ris-Orangis

As to prove the attractivity of the territory, the French Rugby Federation has selected the conglomeration of Evry Centre Essonne to build its future 82,000 capacity stadium. This projet spans over 133 hectares.

The French Rugby Federation (FFR) selected the former Ris-Orangis Racecourse, at the heart of the Évry Centre Essonne Agglomeration, to build its future 82 000 capacity stadium. Designed by the architect designer firms, Populous and Ateliers 2/3/4/, this 5th generation arena will offer a retractable roof and removable pitch, making it one of the most modern and multi-purpose sporting venues in Europe. Backed by the hosting local authorities, this development planning project spans over 133 hectares across an area free from any constraint, at the crossroads of the A6 motorway and national road, the Francilienne. More than just a stadium, a new life hub will rise from out of the grounds built around two main pillars: the creation of an entertainment village and the birth of a cluster for the business of sports.
A pole of excellence linked to the sports industry, which aims to bring together sportswear suppliers, distributors, media, sporting federations, research bodies, etc. The ambition is to put in place favourable conditions for the birth of a sports cluster -yet to exist in the Île-de-France region- in order to promote innovation and enhance the knowledge and expertise of this long-term growth prospect sector. The industry, to this day unstructured, generates a 30 billion Euros turnover. This approach reaches beyond the Évry Centre Essonne Agglomeration’s scope inviting neighbouring local authorities, such as the Val d’Orge Agglomeration, into a wider “Sud Francilien Sports Couronne”, spanning from Saint-Quentin-en-Yvelines to Sénart.
Entirely privately funded, the FFR Stadium will also be supported by the local authorities in charge of managing property, the site’s development and its accessibility. On the whole, this project will catalyse strong social and economic values, especially in that it will create between 8,000 and 10,000 direct jobs and increase local tax revenues.

www.agglo-evry.fr
www.grandstaderugby.fr

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The presentation at MIPIM 2013 of the major projects of the metropole of Bordeaux shows the dynamism at work in the territory. Dynamism that is of course not the mere fact of Bordeaux Métropole: if it is a partner, or pilot in many of these projects, many of which are driven and/or funded by others. This profusion of projects and partners shows the confidence of all in the potential of the territory.

The Bordeaux Euratlantique project
Mr. Alain Juppé, Mayor of Bordeaux, President of the Bordeaux Euratlantique EPA, presented the project in the presence of Mr. Bernard Reichen, urban architect from Reichen and Robert Associates. The new LGV line will put Bordeaux at 2 hours from Paris and strengthen economic exchanges with the Paris region, but also enhance the dynamic neighboring territories (Angoulême, Poitiers…) The “TGV effect” will help position the city of Bordeaux up to the rank of major European cities. The extension of the Gare Saint Jean will accommodate 18 million passengers in 2017 (11 million today). Two high-speed rail connections will make Bordeaux a European crossroads: opening towards the southwest with projects that will respond to the mobility needs of people and goods, Bordeaux will be at 1 hour from Toulouse and 1h 50 from Bilbao with the future high-speed line. Bordeaux Euratlantique is one of the great contemporary urban projects linked to the arrival of the High Speed Line. At the south of the city, straddling both banks of the Garonne, this project covers an area of 738 hectares organized around the Gare Saint-Jean. Nearly 30,000 new residents should be accommodated in the future, as well as 25,000 to 30, 000 jobs, 40,000 sqm of retail space, 400,000 sqm of office space and 50 acres of green spaces. The first operations will be launched in 2015.

Garonne Eiffel, a belvedere on the river
In 2025, a European-oriented business neighborhood with Garonne-Eiffel: as Saint-Jean Belcier, this part of town has the same ambition to reclaim the river and its banks, to densify the heart of the agglomeration and to developa business district with an European vocation while maintaining and developing the existing economic activities. Designed by the team TVK, winner of the urban planning competition, the project includes the development of a business center (150,000 sqm of office space, 20,000 sqm of retail space, 50,000 sqm of activities…) complementary to th project starting at the foot of the Gare Saint-Jean and the creation of nearly 7,000 new dwellings (600,000 sqm) with the objective of urban diversity. Cohabitation with infrastructure of reconquest of the river is the major focus of this project, great parks will be built along the railway tracks and platforms.

Nature in Bordeaux
Bordeaux is a city where you can also breathe with its 55,000 hectares dedicated to nature, with the development of the Parc des Coteaux in 2016, the preservation of the Parc des Jalles made in 2012, the creation this year of a network of hiking trails, the Bordeaux Métropole green loop to meet the inhabitants’ needs of nature. Bordeaux has not forgotten recreation centers with in 2015, the SAVE, vegetable and animal park of the Bourgailh, the MECCA – House of Creative Economy and Culture in Aquitaine, the City of Wine Civilization, a new stadium, in 2017 a large auditorium, in 2015 a thermo-ludic complex with the Garonne Waterfalls.

At MIPIM, Alain Juppé and Gérard Mestrallet, CEO of GDF SUEZ, have signed on March 13, 2013 a cooperation protocol for sustainable urban development in Bordeaux Métropole. This cooperation protocol defines the basis of a collaboration dedicated to the city of tomorrow, promoting innovation and urban efficiency and the development of specific projects. In this context, GDF SUEZ wil develop in priority a demonstrator on the Armagnac islet in Bordeaux Saint Jean Belcier district.

www.bordeaux.fr
www.bordeaux-euratlantique.fr

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Lille Region, territory at the crossroads of Northern Europe, is a treasury of dynamism. Those who appreciate its human warmth, friendliness and diversity most often find it “Amazing”. At MIPIM 2013, Lille region has again delighted the visitors come to admire the ambitious achievements presented on the stand by an “Amazing Fashion Show ” on March 13.

Amazing
Amazing, this territory mixing in the North Sea spray and the mountains of Flanders. Amazing, its accessibility making it almost a neighbourhood of Paris, London or Brussels. “Lille Region” is at the heart of a circle of 300 km inhabited by 78 million consumers. Its population, the youngest in France, cultivates a sense of opportunism, a sense of adventure and the desire to dare, whatever the field. This energy is also at the service of development: since five years, “Lille Region” is the territory where more companies are created in France. An entrepreneurial spirit rewarded by the European Union, which awarded “Lille Region” the 2013 European Entrepreneurial Region prize, a first for France.

Dare
Dare is to make the festivity a brand image. “Lille Region” annually hosts events on a European scale, such as Lille 3000 giving its millions of visitors a new understanding of contemporary art. Festivals such as Les Nuits Secrètes d’Aulnoy-Aymeries (Aulnoy-Aymeries Secret Nights) are enabling artists to emerge who will make tomorrow, while at the Main Square Festival in Arras, the public communes around the greatest rock stars.
Dare is empowering sport to unite a state of mind. On its territory, Lille Region has been able to gather advanced equipment, able to accommodate the elite of world sport. At Villeneuve d’Ascq, near Lille, the LOSC Lille Métropole is evolving in the most innovative stadium in Europe. Not far away, the Valenciennes club welcomes its fans in a brand new Hainaut stadium. And Roubaix has established itself as the capital of cycling, with indoor velodrome worthy of the biggest competitions.
Dare is also creating links between people through culture. At the foot of mine tips, on the remains of the mine and in an area classified by UNESCO, mingle with visitors from around the world in the extention of the largest museum in the world: the Louvre-Lens. Lens, that The New York Times recently placed in the list of inevitable destinations in 2013, before Washington, Bangkok and Paris.

Amazing Fashion Show
In Roubaix, meet Picasso or Chagall in an old art deco pool. “Lille Region” loves to dare, definitely. And its companies do the same. Proud of its textile tradition, “Lille Region” is the birthplace of internationally recognized brands, but also of young designers who will design tomorrow’s fashion. Innovate, create, surprise: these values are the fiber of regional businesses.
The second “fashion show” of Lille Region at MIPIM was an opportunity to discover these ready to wear creations. Always under the sign of “Amazing”, the collections by major brands born in the region (Grain de Malice, Camaïeu and Pimckie) and the creations of designers Manuel Hubert, Naomi Lenancker and Valerie Buffet offered a moment of magic in MIPIM business universe.

www.nordfranceinvest.fr

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At MIPIM in Cannes, on March 13, 2013, the Metropole Nice Côte d’Azur and GDF SUEZ concluded a cooperation agreement for an innovative, efficient and sustainable city and land development.

Innovative projects
Mr Christian Estrosi, Mayor of Nice and President of Nice Côte d’Azur Métropole and Mr Gérard Mestrallet, CEO of GDF SUEZ, signed a cooperation protocol for an urban sustainable land development of the metropolis with a priority on the Plaine du Var Eco-Valley. GDF SUEZ wants to be a partner of the metropolis to promote innovation, energy efficiency and the development of projects that integrate the concept of smart and sustainable city.
This cooperation includes several innovative projects, including a project of urban energy systems located in the Grand Arenas or the construction of a building with high energy and environmental performance in the context of the EcoCities call for proposals. The Plaine du Var Eco-Valley, a major development project in France, will also constitute a privileged field of application of this protocol. A methodology will be implemented to measure the Metropolis energetic and environmental degree of quality and efficiency and will be a tool for the definition of policies and urban projects.

Durable Urban Design Solutions
At the signing ceremony, Mr Estrosi said: “The formalization of the partnership between GDF SUEZ and the Metropolis Nice Côte d’Azur honors us. It reinforces the support of companies to economic and social change committed to create a more competitive territory, creating more jobs, smarter and more respectful of the environment. This ambition is manifested throughout the territory, especially in the National Interest Eco-Valley Operation. Thanks to its teams and innovative solutions it develops, GDF SUEZ is a key partner to ensure eco-exemplarity and economic development of our country.”
Mr Gérard Mestrallet, CEO of GDF SUEZ, has said: “GDF SUEZ is proud to have been chosen to work with the Metropole Nice Côte d’Azur upon the reflection on the implementation of durable urban design solutions at the heart of our business. Our 440 employees present in these municipalities will bring to it their expertise and knowledge. For 150 years, GDF SUEZ has been providing services to local communities. The Group offers innovative solutions today in many cities around the world, from Paris to London, Amsterdam, Casablanca, or Rio de Janeiro.”

www.nicecotedazur.org
www.gdfsuez.com

Nice Meridia, an Urban Technopole

On the Nice Côte d’Azur Métrople stand, Mr Christian Estrosi, Deputy-Mayor of Nice and President of the Nice Côte d’Azur Métrople presented the Nice Meridia Technopole model in the presence of internationally renowned architect Christian Devillers – Agency Devillers & Associates – in charge of the urban project management. In a high-quality mixed urban surroundings, the urban technopolis Nice Meridia will bring together high-tech activities, research centers, businesses, a cutting-edge university and a learning regional campus initiated by the CCI Nice Côte d’Azur will complete this exemplary project.

Future economic showcase of the Plaine du Var, it will provide a first operational phase of 26 ha, a privileged space in the areas of sustainable development, e-health, ICT and tourism, in addition to the twenty companies already received on the site (Cofely GDF SUEZ, Afiseo S.A.S, Alto Ingenierie, Advansolar, etc.). The project is expected to generate about 4,000 additional jobs by 2025.
The first operational scope includes the construction of 160,000 sqm for housing, or approximately 2,100 housing for everybody, 38,000 sqm of training facilities, 100,000 sqm of tertiary combining offices, labs and R&D (incubators, nurseries, hotels of companies and business centers) and 22,000 sqm of shops and services, for a total of 320,000 sqm.
To this program, are added the 10,000 sqm of offices already built in Nice Premium where the Reception Center for innovative companies is installed, in connection with the Mediterranean Institute of Risk, Environment and Sustainable Development (IMREDD). The institute is to be the first link in the Eco-Campus for which the university must develop 70,000 sqm of teaching and research that will reflect the reorganization of university locations in the heart of a uniform landscaped garden.
Nice Meridia wants to be an animated space and urban fabric served by many public transport lines and crossed by the future streetcar line. It is expected to become one of the driving forces of the Azurean Metropolis. Ultimately, the project aims to develop on 200 hectares. Works on the site and marketing will start in 2013.

www.nicecotedazur.org

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At MIPIM 2013, the city of Cannes unveiled its “Cité du Cinéma”, a project with an international scope, such as the Guggenheim Museum in Bilbao, which will be located on 2.4 acres facing the sea in Cannes to welcome 400,000 visitors a year. “We want something unique, a sort of “Beaubourg for World Cinema” that can prolong the life of the Festival” Deputy-Mayor of Cannes Bernard Brochand said. Carte blanche is given to the creativity of architects and the city of Cannes, which makes the land available, is looking for investors.

On the strenght of the exceptional and historical bonds linking it to the world of cinema, the city of Cannes is launching call for projects proposals to design the future Cité du Cinema, the equivalent of the Pompidou Centre for Cinema, on an exceptional site facing the sea in the heart of Cannes, and close to the Palais des Festivals et des Congrès. The future Cité du Cinema, stretching over 24,000 sqm, will represent a genuine international cultural centre unique in the world, a living memory of the world cinema and Festival de Cannes, an exceptional institution in the world of cinema.  A complex of cinema-themed buildings, outstanding in terms of their architecture, will be built in this idyllic setting. This original and creative complex alone will contribute to the project’s international renown, on a par with the Sydney Opera House, the Guggenheim Museum in Bilbao or the Metropolitan Opera in New York.
At La Cite du Cinema de Cannes visitors will comme to discover the exceptional emotion raised by the Official Selection and the Palme d’Or, during the most important cultural event in the world, epitomizing the myth, the fantasy and the spirit of cinema. They will thus be able to explore a world of images, souvenirs, emotions, happiness, glamour and liberty. The site will includes the famous Villa Rothschild that may serve as a residence for artists.

The choice of the home of the Festival de Cannes for a Cité du Cinema means enjoying the exceptional reputation of a city that is a reference in terms of welcoming and event organisation, with a remarkable accommodation capacity (over 5,300 rooms at 110 hotels, including five 5-star establishments, and 2,600 appartments in residential hotels) that goes hand with the quality of the reception by local  professionals committed to the Only Cannes charter. People can enjoy a world-class airport service (Nice-Côte d’Azur International Airport, France’s leading business airport after Le Bourget near Paris), and a major destination for prestigious international cruise companies.
Supporting Cannes for this project means providing France with a unique, ambitious facility that is attractive for tourists from around the world seeking the magic of cinema and will attract the global media. It is a place that has been entirely designed to feed the curiosity and passion that all facets of the cinema inspire.
The operator chosen to mount the operation with a budget arising between 150 and 205 million Euros could be unveiled at the Festival de Cannes and the beginning of the works is expected by 2015.

www.cannes.com

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