Carrefour has partnered with real estate developer Nexity to create a «land holding vehicle» that will develop residential and commercial projects on Carrefour’s vast lands. The partnership aims to transform 76 sites in France over the next decade, integrating Carrefour stores into cities and focusing on environmental sustainability, as reported by Lesechos.
The joint venture, with Carrefour holding 80% and Nexity holding 20%, plans to develop projects that include housing, service residences, offices, and retail spaces. The goal is to enhance the attractiveness of Carrefour’s assets by renovating and restructuring commercial sites, emphasizing green spaces and sustainable mobility.
The project aligns with Carrefour’s strategic plan to create €500 million of value through urban development operations on approximately 100 sites. With the implementation of laws promoting limited soil artificialization, Carrefour sees its existing sites, particularly those at city entrances, as valuable opportunities for development due to their already artificialized nature and potential for minimal opposition.
