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Paris to build seven new skyscrapers to accommodate banks fleeing Britain

22 February 2017  |  3995 views  |  0 Paris - Eiffel tower

Parisian business district La Défense is to build seven new skyscrapers over the next five years to accommodate an expected influx of demand from banks fleeing post-Brexit Britain.

Following months of campaigning since the referendum result, Paris La Défense is confident it will attract a significant number of international businesses looking for a new base within the European Union.

The seven new skyscrapers will create 375,000 m² of new office space to handle the anticipated influx of new talent. In addition, a new flexible working space called ‘Oxygen’ will be built cater to the needs of start-ups and entrepreneurs.

Marie-Célie Guillaume, CEO of Defacto, which runs Paris La Défense says: “With only a few weeks to go until Article 50 is triggered, we want to send a powerful message to businesses that are uncertain about their future in London. Paris La Défense already has a huge amount of world-class office space, and we want to build on this to support the rapid growth of our thriving business eco-system."

News of the infrastructure investment comes just months after De Facto took out advertising space across London urging business leaders and workers to “join the frogs”.

The campaign followed a move by French regulators to relax their famously arcane rules by speeding up licensing procedures and providing English-speaking contacts for British financial institutions and fintech firms looking to relocate their business in the event of a hard exit from the European Union.

And in February, top officials from Paris met with over 80 executives of major financial businesses for a high-level briefing at The Shard in London to discuss post-Brexit relocation opportunities.

Says Guillaume: “Brexit represents a huge opportunity for us to realise the full potential of La Défense, and after months of campaigning and talking to business leaders in London behind the scenes, we’re confident that many will choose Paris La Défense as their new European base."

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