Euro Mediterranean Project Aims To Transform Marseille

  • 16 years ago
  • Uncategorized
Marseille’s Euro Mediterranean Project is one of the largest urban renewal projects the world has ever seen. When completed in 2012, the plan envisions Marseille as one of the top Southern European cities. This ancient seaport is one of the oldest cities in France and Europe, but it has lagged behind the rest of the country in terms of development and popularity.
The Euro Mediterranean Project is reworking 310 hectares of land in the city centre with the aim of reinvigorating the city as an international destination for businesses, real estate investors and travelers. The area between the centre of Marseille, the commercial port and the TGV mainline railway station is the focus of this development, and it has been declared an “Opération d’Intérêt National,” which is a town planning scheme of interest to the country as a whole and protected by special legal status.
The project is focused on several major areas of development, including infrastructure, property, economic factors and quality of life development. Specifc projects that are being undertaken are work on new roads, tunnels, tram system, schools, gymnasiums and public spaces. In terms of property development, there is a partnership with promoters and investors, aiming to construct or renovate offices, housing, shops, hotels and cultural and leisure facilities.
The city will feature new hotels, a convention center, a Museum of European and Mediterranean Civilizations, an entertainment center, a shopping and leisure complex, a mix of luxury apartments and public housing. Much of this is being designed by such architectural stars as Jean Nouvel, Zaha Hadid and Massimiliano Fuksas

Already, the city is becoming an attractive location for real estate investors. Emile Garcin, one of the French real estate firms that deal exclusively in top of the line properties, opened a new office here late in 2007. Isabelle Viatte, who opened the Marseille office last autumn for Emile Garcin, was recently quoted in the International Herald Tribune:
“Marseille has changed. It has a new, more seductive identity and many people now want to come and live here.” She continued: “The demand for exceptional properties between €2 million and €5 million is so strong that I can’t find enough luxury homes with sea views, gardens or terraces to satisfy it.”
With the new Marseille, there will be plenty of opportunities for investment and a high return on property.

Compare listings