BNP Paribas Real Estate embarks on its first development project in London

As part of the globalisation of its development business, BNP Paribas Real Estate has just signed with Kings Cross Central Limited Partnership, represented by Argent, to purchase a site at Kings Cross, paving the way for its first office development in the UK. BNP Paribas Real Estate will build a 40,000 sq m office building at the Kings Cross development, which will have a total 800,000 m² of real estate projects.

According to Philippe Zivkovic, chairman of BNP Paribas Real Estate, “Work is to begin in Autumn 2012, following the Olympic Games, with completion in 2015. This first development project means that all six of our business lines will be established in the UK (Development, Transaction, Advisory, Valuation, Property Management and Investment Management)”.

Philippe Zivkovic indicated that he plans to “move London’s BNP Paribas Real Estate team into part of the new building”.

This project also has ambitious targets in terms of energy-saving and sustainable development, aiming for BREEAM Excellent certification.

source : BNP Paribas Real Estate