Abu Dhabi Investment Authority Buys Paris Office Tower Project
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The Abu Dhabi Investment Authority plans to build a 38-story office tower in Paris’s La Defense as investors bet that rents will rise in the French capital.
A unit of the world’s second-biggest sovereign wealth fund bought the Tour Alto plot from a fund managed by UBS Group AG, according to LaSalle Investment Management, which advised ADIA on the purchase. The existing building on the site will be demolished.