The relaunched iconic 52 Champs-Elysées after five years of extensive redevelopment.
Qatar Investment Authority announced yesterday the relaunch of the iconic 52 Champs-Elysées. Following five years of extensive redevelopment, this landmark asset has been fully transformed into a mixed-use property of 270,000 sqft including an immense retail area of 178,000 sqft and office space of 91,500 sqft.
QIA is thrilled to welcome Galeries Lafayette as the flagship retail tenant at 52 Champs-Elysées. With 70,000 sqft – which is the largest retail space on the avenue – Galeries Lafayette aims to offer local and international visitors a one-of-a-kind, more intimate and responsive department store model that is in tune with new ways of consuming and producing.
The world renowned department store will be joined by international luxury brands including Chanel, Dior, Lancome, and Monoprix. The asset will also have a rooftop restaurant overlooking the Champs Elysées, redefining the concept of luxury outdoor dining and offering unparalleled views of this famous Parisian shopping arcade.
In June 2012, Qatar Investment Authority took the decision to buy 52 Champs-Elysées, and invest in one of the most central properties on the busiest street of Europe.
Over the last five years, QIA worked closely with the local authorities, worldly renowned architect and design agencies, and key global luxury tenants to transform this building into an iconic property that would truly represent the history and status of the Parisian life-style on the Champs-Élysées. Best in class companies were mandated to assist on the planning and delivery of this project.
A Qatar Investment Authority spokesperson said: “This project is a testament to the local stakeholders, government authorities and the local workforce who have helped QIA transform 52 Champs Elysees into an asset that represents the traditions of Champs Elysees, combined with the highest modern standards of the 21st century.”
The spokesperson added, “This project redefines what historic renovation can achieve with the collaboration of all stakeholders, and sets a new standard in premium retail and office real estate. As long-term holder of this space, we are pleased to have contributed to the Champs-Élysées’ revival as a world-class retail destination, and look forward to welcoming more new and renowned global brands to the avenue.”
52 Champs Elysées has been built in compliance with the highest standards, rigorous environmental and energy performance standards, guaranteed by the certifications: BREEAM Excellent rate and HQE Exceptionnale.
