FDR, Credit Agricole invest EUR 210m in Euromed Center

French property company Fonciere des Regions said it is teaming up with Credit Agricole's life insurance unit Predica, and Credit Agricole's regional bank unit Alpes Provence to invest up to EUR 210 mln in the development of the Euromed Center, a 71,500 m[sup]2[/sup] commercial and entertainment centre in Marseille. Designed by the renowned architect Massimiliano Fuksas, the complex will provide some 45,000 m[sup]2[/sup] of office space, 4,000 m[sup]2[/sup] of retail areas, a 14-screen cinema and a four-star hotel with 210 rooms. The project, which is part of a larger regeneration planned for Marseille's city centre by Marseille's public development agency Euroméditerranée, is expected to be completed by 2011. Under the new agreement signed by the three investment partners, the complex will be constructed and subsequently sold to Euromediterranée. Cogedim and Unimo were hired to market the mixed-use complex.

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