Unibail-Rodamco, Europe's largest listed real estate company, aims to set up a new company for its retail development activities in December, Chief Operating Officer Michael Dessolain said in an interview with PropertyEU at the Mapic retail fair in Cannes. The new company, whose name has not yet been disclosed, will be launched with a pipeline of 1.1 mln m[sup]2[/sup] in retail projects including expansions and new developments, Dessolain added. Unibail-Rodamco is targeting annual double-digit returns for the new development company.
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