Sunday, January 16, 2011

Despite economic crisis, Paris' real estate prices main growth: Sautter

Monday,17 January 2011


By : Jameel W. Karaki
http://alwatandaily.kuwait.tt/resources/pdf/973/11.pdf

PARIS: In an exclusive interview with Al Watan Daily, the only Kuwaiti media outlet which was invited by Invest in France Agency (IFA), Christian Sautter Paris Deputy Mayor, said, "Paris will not repeat the mistake of building a tower at the center of the city but instead on the outskirts of Paris."


He stated, "Paris can be Rome or California - we want to maintain our archaeological style and at the same time we aim to add a touch of contemporary art and this means that in central Paris, we do not demolish the buildings - we only change the inside."

He added that Paris aims to become the largest city in the world adding that Paris aims to diversify its gross domestic product (GDP) through many projects that contribute in economic development.

Sautter said, "Our Philosophy is 'Paris is good for business and tourism.' We have developed a dynamic economic development strategy to expand Paris which will last until 2020."

"This strategy will focus on developing areas that were used for railways, old neighborhoods which are under renovation, building offices, green zones, and shops," he said, noting that these lands represent 10 percent of the existing lands in Paris.

According to Sautter, despite the economic crisis, real estate prices maintained growth and many investors such as the Germans believes that investing in Paris real estate market is feasible.

He clarified that in 2007, majority of Paris Council members voted on the reduction of energy consumption 25 percent policy until 2020 to reduce gas emission. Therefore, energy consumption should depend on the solar energy by 2020.

In addition, Sautter stated that Paris is working on developing its hotel sector as well as increasing the level of innovation with the cooperation of small and medium enterprises with the support of the state and schools in the field of finance, green energy aviation production, and biotechnology.

Furthermore, Paris is considered the first tourism destination in the world with 28 million tourists yearly and expecting to receive 50 million within 15 years which requires the building of more hotels which suit the purchasing power of all tourists noting that Qatar financed the building of two hotels.

In response to a question about US security warnings he said that a system called Fidji Pratt was in place, which contains many security levels. "We are currently at the pre-maximum level and this does not impede the movement of tourism, and these warnings haven't decreased the rate of the visitors we receive," he concluded.



With the Vice mayor of Paris inside his office
  
you can read it also at Al WATAN DAILY http://alwatandaily.kuwait.tt/resources/pdf/973/11.pdf

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