Paris' La Defense seeks revival with smaller, greener offices By Reuters

Paris's La Defense Business District Renovation:

• Aims to modernize over 300,000 sqm of offices into greener and more flexible workspaces.
• Vacancy rates rose above 15% due to the pandemic, prompting the need for renovation.
• The plan involves starting with a tenth of La Defense's total area and offering lower rents compared to central Paris.
• Focus on attracting tenants seeking modern, eco-friendly spaces to enhance teamwork and talent retention.
• Challenges include filling large office spaces and adapting to changing tenant preferences.

Environmental Initiatives and Urban Park:

• La Defense is transitioning to energy-efficient practices and creating a five-hectare urban park by 2027.
• Lower-carbon and renewable energy sources are being utilized, along with smart building management systems.
• The district will soon house France's tallest skyscraper, emphasizing green standards and sustainability.
• Renovation costs are estimated to be in the hundreds of millions of euros, mainly funded by major developers.
• Efforts to attract younger workers involve building apartments, student housing, and trendy hotels within the district.