Press Release
Monday, 14 March 2023

MIPIM 2023
Choose Paris Region and its partners showcase the transformation of the Grand
Paris and announce 22M sq.m of opportunities at MIPIM 2023

Grand Paris Pavilion

On the occasion of MIPIM, the largest international event for real estate professionals opening today
in Cannes, Choose Paris Region and its 24 co-exhibiting partners1 showcase 22M square meters ofReal Estate opportunities in the Grand Paris.

A pavilion that reflects the transformation of the Paris Region without renouncing its heritage
With a particular focus on renewal, the Grand Paris Pavilion, set up by Choose Paris Region, reflects
the ambitions and transformations currently underway in Paris Region. The Grand Paris pavilion
echoes the challenges of today and tomorrow: working together to build a low-carbon Grand Paris,
striving for greater sobriety, making Paris Region a sustainable and inclusive Region, and innovating
without renouncing its heritage.
"MIPIM 2023 is an opportunity to showcase the Paris Region of the future that we are working tobuild, a Region that combines economic development and quality of life, in an exemplary context ofpositive impact. With the upcoming Paris 2024 Olympic and Paralympic Games, the Region'stransformation is taking shape alongside the progress of the Grand Paris Express, as well as
numerous commercial real estate projects, office conversions, river logistics, etc. These are allopportunities for investors to participate, together with our territories and partners, in shaping theParis Region of the future, a true European centre of gravity. All in all, there are 22M square meters ofbusiness opportunities," said Alexandra Dublanche, Vice President of the Paris Region, in charge ofRecovery, Attractiveness, Economic Development, and Innovation and Chairwoman of Choose
Paris Region.
A showcase for the transformation of the Grand Paris, between heritage and innovation
Already the world's leading tourist destination, Grand Paris, by hosting the Rugby World Cup in 2023
and the Olympic and Paralympic Games in 2024, is providing international investors with tremendous
opportunities in terms of attractiveness and visibility.
This interweaving of heritage and innovation is a key element in all the development projects
currently being carried out in Paris Region. It is a testament to the ability of Paris Region's Real Estate
sector to capitalize on the Region's exceptional architectural heritage while taking advantage of new
constraints to; innovate, question the uses of places, upgrade energy efficiency of buildings andcreate new functionalities.
This is the main theme of the Grand Paris presentation at MIPIM. Several scale models arepresented in the Grand Paris Pavilion, illustrating both the contribution to the Olympic andParalympic Games’ heritage and the renewal of this existing heritage. Among them:
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The Plaine Commune agglomeration, the territory of the Olympic Village, which will provide apark of 4.000 homes,
The Olympic Aquatic Center, entirely designed with bio-sourced materials and self-sufficientin energy,
Notre-Dame and its new square,
The project to transform the 8,000 sq.m of the former Barbès Tati store (Paris XVIIIe) into
housing, commercial spaces and cultural third places,
The Black project in Clichy sur Seine (92), one of the largest low-carbon building complexes inFrance (two buildings totalling nearly 50,000 sq.m of flexible workspaces), made of burned
wood and treated with flame using the ancestral Japanese technique of Yakisugi.

The Grand Paris Pavilion, a showcase of investment projects for an increasingly sustainable,attractive and opportunity-driven Region
Paris Region has been named the leading Region of the future in 2023. Last February, Paris Region
was once again ranked Europe's leading Region of the future and the most attractive destination for
Foreign Direct Investment in Europe, according to a ranking by fDi Intelligence. It was also the first
beneficiary of the Brexit, with more than 7,100 jobs relocated, enabling the Paris Stock Exchange toovertake London's for the first time in terms of capitalization volume. This achievement, which
recognizes the Region's ability to attract major projects both inside and outside Paris, means that theRegion must continue to innovate to establish itself as a true model of the European territory of thefuture.

Attractiveness and transformation built on three pillars:•As a world-class Region, Paris Region has a local, regional, national and internationaltransport network (Grand Paris Express, transport, airports). It also has the 4th densest
public transport network in the world. Working constantly to improve the quality and fluidityof transport, decarbonization and the development of smart mobility, the Region has
invested more than €25Bn in this area. The construction of the Grand Paris Express alonerepresents an investment of €32Bn. It showcases the Region's willingness to improve thefluidity of transport, access to health, employment, housing and culture by creating newinterconnections between areas of the Paris Region that have never been connected before,
and to work towards a more inclusive balance between districts and communities. Many
projects are already underway in the East of the Region. And in the Plaine Commune area,for instance, commercialization is expected around two major operations located in La
Courneuve: the Town Hall district and the Gare des Six Routes, and a third located in the Zacdes Tartres, which straddles the municipalities of Pierrefitte, Saint-Denis and Stains.
•Paris Region’s attractiveness is also based on respect for the environment. This is at theheart of the policy of the Paris Region Regional Council, which has just adopted a new
regional plan for economic development, innovation and internationalization called "Impact2028", which aims to support the Region's economic recovery, especially its most traditionalindustries, while also supporting the environmental transition of companies. The Grand ParisExpress project will also make a significant contribution to environmental preservation. By2050, its commissioning should enable a reduction in emissions of at least 14.2M tons of CO2
equivalent. Approximately one third of this reduction will come from the reduction of car use
and two thirds from the urban renewal of train station areas. The Société du Grand Paris has
just launched its third program of real estate projects above and near train stations. All ofthem are governed by an ethical vision, both in terms of compliance with new environmental
standards for construction and quality of life.

•Quality of life is a major asset of the Grand Paris. It is the result of a wide range oftransportation options, the concentration of activities, respect for the environment, not tomention the presence of an exceptional natural, architectural and historical heritage.

A Real Estate market reflecting new dynamics: territorial and driven by the new real estate andland opportunities.
After a dynamic 2021, the new financial situation has led to a decline in the volume of real estate
investment in 2022. However, while countries such as Germany and the United Kingdom have seen adecline of more than 25%, France and the Paris Region have held up well, with €15.5Bn invested in2022, a decline of 4%. France has thus remained in the Top 5 of the most popular markets. The
market dynamics of the French real estate market continued in 2022.
Despite the context of inflationary pressures, the level of transactions, with approximately €1.1M
sales, came close to the historical record for 2021 (source: Nexity). In Paris Region, the new station
districts have helped to sustain the market's momentum. Paris and its Region accounted for 61% of
the amounts committed across all asset classes.
Despite the difficulty to make forecasts, linked to the complexity of the economic and geopoliticalcontext, real estate opportunities continue to be renewed, pointing to a good level of activity for2023. Paris Region offers a diversity and plurality of investment projects (mixed-use neighborhoods,offices, large-scale facilities, etc.) unforeseen since the great Haussmann transformations.

The Real Estate projects and opportunities of Choose Paris Region's partners are presented in thepavilion according to three main asset classes :Offices & RetailOffice assets are subject to the impact of the development of telecommuting. However, 2022
marked a recovery with demand up 10% compared to 2021. €10.6Bn were invested in the officemarket in Paris Region in 2022. Large transactions at €200M have been affected, particularly on theoutskirts, but the inner suburbs could see a resurgence of interest due to their many opportunities
and the growing interest in coworking. In 2022, 60 transactions were carried out in this sector, on theoutskirts, representing a total volume of 98,000 sq.m.
The conversion of office space is nonetheless an increasingly important issue. As proof, the numberof conversions continues to grow: 123 projects have been identified by Knight & Franck since 2019.
Retail continues to grow in the Grand Paris, which remains the gateway to the French market in thissector. No fewer than 30 new retailers that arrived in France in 2022 chose to open a premise in theParis Region. In the suburbs, while the high density of existing stores means that major new projects
have diminished, demand remains strong in certain sectors such as fast food, sports, and leisure,
health and mobility. The food sector also remains very dynamic with the upcoming openings of theSpanish Primaprix. In an inflationary context, the discount sector is accompanying this dynamic,driven by growing household demand for this type of retailer. The luxury goods market is still
flourishing, supported by the number of international tourists. While it is of course difficult to assess
the impact of the 2024 Olympic and Paralympic Games, the heart of Paris continues its
transformation along the Rivoli and Champs Élysées main roads, while the CNIT in Puteaux has
already planned an extension of 10,000 sq.m by 2023.
Industry & Logistics
According to BNP REAL ESTATE, the business park sector is continuing to grow, with 616 transactions
recorded in 2022, compared with an average of 320 over the past five years. The logistics sector saw
a 12% growth in Europe in 2022.
Hotel & Residential Industries
The hotel sector is back on track. As the health crisis fades, tourists have returned to the Paris Regionin flocks. The Region welcomed around 44.1M tourists in 2022. Even if the 2019 level is not yet
recovered, there is a strong rebound in activity with 66.6M tourist nights recorded over the year. The
Rugby World Cup, scheduled to take place after the summer, should help sustain this momentum.
Several emblematic projects are currently under construction in Paris and in the Grand Paris, such as
the H4 Hotel Paris Pleyel, which will open in 2024.
45 conferences reflecting the opportunities and transformations underway
For 3 days, 150 experts will lead conferences on the pavilion around the following themes: Vision &Leadership, Legacy & Innovation, Sustainable & Inclusive Projects, Architecture & Innovation, Paris
Olympic Games & business opportunities, and Europe's best business opportunities.
All the speakers and the program are available by following this link.
Among the officials attending the event: Valérie Pécresse, President of the Paris Region, AlexandraDublanche, Vice President of the Paris Region, in charge of Recovery, Attractiveness, EconomicDevelopment, and Innovation and Chairwoman of Choose Paris Region, Jean-Philippe DugoinClément, President Grand Paris Aménagement, Patrick Ollier, President of the Grand Paris

Metropolis, Mark Dixon, founder of IWGPLC, Laura Citron, CEO of London Partners, Antoine Berbain,
CEO of Haropa, Richard Shakespeare, Deputy CE of Dublin, Lionel Grotto, CEO of Choose Paris Region.
Visit Choose Paris Region online• Web• Twitter• LinkedIn

About Choose Paris Region
A business growth and destination agency for Paris Region, Choose Paris Region promotes the Region acrossthe world, attracts and supports companies and international talents. They contribute to the Region’stransformation and build a positive footprint. In developing the Region’s strategic sectors, Choose Paris Regionbuilds on innovation to meet tomorrow’s challenges such as transitioning to a low carbon economy andindustry, increasing resilience and sovereignty.
As a one-stop shop, the agency federates local actors and forges public-private partnerships with an aim toempower the companies and talents it supports. By bringing together economic growth with positive social &environmental considerations, Choose Paris Region contributes to building the future of a dynamic, innovativeand sustainable Region.
Thanks to its cultural heritage, pool of qualified talents and dedicated companies, Paris Region is one of theleading regions for film production in Europe. Through Film Paris Region, and the French and international
projects it supports, the agency also contributes to the excellence of the film and audio-visual industries and tothe Region’s international reach.
Press Contacts :Lolita TCACI / 06 28 23 88 11 / lolita.t@oxygen-rp.com
Tatiana GRAFFEUIL / 06 71 01 72 58 /tgraffeuil@oxygen-rp.com
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List of Partners attending the event : Choose Paris Region, Métropole du Grand Paris, Paris la Défense, Laville de Paris, Plaine Commune et Plaine Commune Développement, Grand Paris Aménagement, Innovation
Playground (Paris Saclay & Saint Quentin en Yvelines), Société du Grand Paris, Epa Marne Epa France, Epa
Orly Rungis Seine Amont, Espaces Ferroviaires & SNCF Immobilier, RATP Solutions et Real Estate, Sogaris,Ceevo, Epamsa, Redman, Grand Paris Sud, Banque des territoires, Pariseine, Semapa, Paris and co, Paris &Métropole Aménagement, Alila, Axa Investments Manager, DWS, GCI, Groupama Immobilier, Hellio, Histoire
Patrimoine, Icade, JC Decaux, Kaufman Broad, Novaxia, Oco Global, Primonial Reim France, Quadralpromotion, Spirit, Stonal, Unibail-Rodamco-Westfield, Verrecchia