Property boosted as Paris games hasten suburban links

The Paris Olympics 2024 have given additional impetus to the Grand Paris initiative which is designed to interconnect the city’s suburbs.

“Back in the day, if you were willing to commute between suburbs you ad to go back to the centre of Paris and then lose a lot of time,” Guillaume Turcas, managing partner, Faro Capital Partners, pointed out.

“Thanks to the Olympics, three quarter of the Grand Paris scheme will be achieved, hopefully, by Q2 2024, just before the start of the Olympics,” Turcas said. The remaining 25% will be completed at least before 2030.

“That will be a big change in terms of connection within the suburbs and a lot of time gained for a lot of people to commute around Paris,” Turcas said.

The changes will boost the La Defense business district in particular, but the effects will be felt widely, by offices in the areas close to all of the Grand Paris stations and by residential in a wider area. Turcas said the residential sector has already gained in value considerably. “People have to adapt to this kind of connection and I think there will be a small rebalancing for commercial real estate, but for the residential I think it will be it will be major.”

Please click on the video above to watch the full interview or listen to the podcast below.