Gecina: partnership in housing with Nexity
(CercleFinance.com) - On Friday Gecina announced the signing of a partnership with the property developer Nexity to address the housing shortage in France.
Both groups say they have reached an agreement to develop 4,000 new housing units over four years in Paris, the Paris region and major French regional cities on behalf of Gecina's residential subsidiary.
The operations developed will give priority to low-carbon construction, notably in wood, using the circular economy, both the companies said.
The agreement should result in the creation of a joint development company that is 60%-owned by Nexity and 40%-owned by Gecina.
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