Ivanhoé Cambridge’s DUO Project Takes Another Step Forward

During the recent international MIPIM conference for real estate professionals in Cannes, Ivanhoé Cambridge and the Société d'Étude, de Maîtrise d’Ouvrage et d’Aménagement Parisienne (SEMAPA) announced that the development of the DUO project in Paris’s 13th arrondissement has taken another step forward.

The SEMAPA has signed a "promesse unilatérale de vente" (unilateral promise to sell - a provision in the French Civil Code) with Ivanhoé Cambridge enabling the continuation of studies on the project and giving Ivanhoé Cambridge the right to build and to embark upon the next predevelopment steps.

DUO would comprise 87,000 m² of office and commercial space, as well as a 150-room hotel. The DUO project, designed by architect Jean Nouvel, recently earned Ivanhoé Cambridge a win in a major City of Paris architectural competition. Hines, Ivanhoé Cambridge’s developer partner, will be the DUO project’s owner-agent.

on April 9, 2013