But Xavier Huillard group is a debt of 15However its Comex division decreased by 17It needed to realize a capital gain of 88At their turn the Switzerland the Luxembourg and the Austria surrendered Friday to the pressures that were correct on the eve of Andorra the Liechtenstein and the Belgium read the Echos from March 13The International Trade Union Confederation is bornTheir starting point is a very common findingThe metropolis is not so in its death throes1 of its operating income EUR 157 millionThe darker more dangerous it is despairObjective be ready for economic recoveryIn the early 1990's, the architect Jean Nouvel renounced its Tower project without end, to the defence, on a background of economic crisis. Almost twenty years later, this scenario could well breed: winner of international competition in 2008 by the public (Epad) defense planning establishment, its 300-metre Signal Tower should be funded by Metrovacesa, Spanish investors group in very bad shape, thus become unfit. With the crisis, height records may fall several hundred metres: projects such as the Tower of Russia in Moscow by the Agency of Norman Foster, the Spire of Santiago Calatrava funded by an Irish Bank Chicago and many other skyscrapers have been modestly deferred. Many of these projects will probably never emerge and their sites have been closed.
This sudden reversal followed a period of euphoria which ironically began shortly after September 11, 2001. Never in the history, the construction of large and very large buildings was also dynamic: on the horizon of 2020, the buildings that dominate the world would have been largely exceeded. Located in Chicago, the Council of Tall Buildings and Urban Habitat, inexhaustible Bank of height data, listed in 2008 projects already under construction or achievable, that is supported by an investor or a public community. The most striking result of this list was the place occupied by the completed today the highest building in the world, Taipei 101: by 2020, it was more that in 14th place, while the towers Petronas in Kuala Lumpur, Malaysia, today alors que les tours Petronas à Kuala Lumpur en Malaisie, aujourd'hui secondes seconds would be past good past. The Burj Dubai Tower would have been 4th with his 818 metres, behind the winner in this same Emirate, the Tower Nackheel in addition to 1,000 metres, announced in band in October 2008 and adjourned sine die in December. Although buildings stories, such as the Sears Tower in Chicago or the Empire State Building in New York, head more than seventy years, them, disappeared from selection.
Over the past ten years, the Tower thus appeared to be become the architectural model of the future, symbol displayed of economic dynamism and modernity as well for emerging States for European cities in need of recognition. In appearance, these buildings were the ideal alternative to urban sprawl so costly to the community, so harmful to the environment. Finally, economic at the origin of these constructs model was always also adapted to buildings concentrated on more and more rare rights-of-way, so increasingly more expensive: the stack of a maximum of m square on a minimum of field reaffirmed the sentence of Cass Gilbert architect of the Woolworth Building in Chicago, in 1900, called skyscrapers of "machines to pay the Earth."
Visibility zero
A few months, everything has changed. The questions posed by the financial crisis on the health of the tertiary real estate are reflected so ever more acute on the narrow market of the towers, limited in France three cities: Paris, Lyon and Marseille, and especially in the defense business district. Proportionately, a high-rise building is more expensive to build that same distributed in several buildings less surface of 10 floors. Reported per square metre, the price of the facade, essential identity of these architectural objects, reached once and a half, or even twice that of a classical building coatings. Facilities projects, reasonable for 5 floors, are all for a tower built in already dense medium. Finally even increasing the financial costs. "It takes about two years of study and three to five years of construction for a tower, explains Paul Boyer, CEO of society of expertise Eurisk, specialist of these great books." So how can we anticipate the levels of rent at the exit ""I monte always the financing of a building taking into account the prices in effect at the beginning of the operation." For a tower, the figures are much more important, but the additions are always the same. In four years, rents have perhaps declined, in this case, I mordrai on a mattress of profitability expected to be slightly compressible. If they have increased the profitability of the operation will follow. "The bulk of the funding will begin in 2010, for the moment we pay fees for studies, which is not the more expensive," says an investor, who confesses having not measured in advance the time of maturation of such a project.
"Build a tower, it is predict market at the same time 10 or 20 times more than the total of available surfaces around," adds the responsible work of a sponsor. "That is why the defence market is enough sports, continues Olivier Estève, Director General of the Department offices for the regions land group.". When a tower is delivered, it is of 100,000 to 150,000 m2 which arrive on the market and risk of the unbalance.
Guillaume Poitrinal, the Chairman of the Group Unibail-Rodamco announced, on the publication of the results of his company on 6 February, that projects towers beacon, signed by architect Thom Mayne (800 million euros, 300 m high, 130,000 m2), and Majunga (400 million euros, 195 m and 65,000 m2), drawn by Jean-Paul Viguier, would not be cancelled and that he would like to start at upswing.4. It is not the only wish to use the time of the crisis to build buildings completed at the time of the recovery. The Generali Tower, to more than 1 billion euros is more advanced. Its namesake owner should get his licence to build and finance still a year of studies before the first Pickaxe blow. "Today, only groups to very strong and able to finance equity kidneys can afford to launch these buildings or wait without renouncing", commented a promoter.
Because the Tower before being a profitable object, an expenditure of hundreds of millions of euros. However, in view of the costs of land, construction costs of these large complex books and feasible output rents in the area of defence, many experts believe that profitability is not guaranteed. With a land charge sold more than 2,000 euros and a more than 3.500 euro construction cost, the overall price Tower verges already 6,000 euros per square metre without having even integrated essential positions such as financial expenses. And it is rumored that projects include five architects selected for the final competition of the Signal Tower, some would have cost much more expensive. Such buildings are in London, New York or Moscow, where the average rents in the business districts are easily Paris prices double. A defence, the highest values do not exceed 580 euros per square metre per year.
Rebuild
A cheaper and faster solution is to start work on land already amortized or renovate and expand existing towers, as provided for in the recovery of the defence plan. The first "new" towers of the Parisian business district will also follow this pattern and will be on the market before the lighthouse, Majunga, Carpe Diem and other Signal. AXA REIM with Beacon Capital will thus enhance its tour of more than 50 m and it offer any image, with 280 million euros excluding asbestos removal, reformatted by the Agency of architecture American Kohn Pedersen Fox (KPF). Similarly, land of the regions initiated the restructuring of the GAN ex-tour, renamed "CB21" to the defence. In 2007, this investor had spent EUR 486 million to acquire 75,000 m2 building, built in 1971. The best way to make the operation would have been to add floors. The architects of the 234 workshop had indeed won the consultation and proposed an enhancement and expansion project that added a third of leasehold surfaces for a budget of over EUR 250 million. Investor, waiting for a tenant to start this work, reduces the wing by signing for 42,000 m2 with Suez Environment in the face price of 505 euros per square metre per year. "Our tenant wanted power move in December 2009, we have chosen the option of a renovation to the same cost that 130 million euros and can be delivered on time," explains, realistic, Olivier Estève. The market decided in favour of economies. For the rehabilitation work that contain all the same the replacement of the facades, the contracting authority even did not to apply for a permit to build.
