Qatar Investment Authority (QIA) has announced the relaunch of the iconic 52 Champs-Elysees in Paris, France. 
Following five years of extensive redevelopment, this landmark asset has been fully transformed into a mixed-use property of 270,000sq ft, including a retail area of 178,000sqft and office space of 91,500sqft, QIA said in a press statement yesterday. 
QIA said it "is thrilled" to welcome Galeries Lafayette as the flagship retail tenant at 52 Champs-Elysees. With 70,000sq ft – which is the largest retail space on the avenue – Galeries Lafayette aims to offer local and international visitors a "one-of-a-kind, more intimate and responsive department store model that is in tune with new ways of consuming and producing". 
The world-renowned department store will be joined by international luxury brands such as Chanel, Dior, Lancome and Monoprix. The asset will also have a rooftop restaurant overlooking the Champs Elysees, "redefining the concept of luxury outdoor dining and offering unparalleled views of this famous Parisian shopping arcade". 


Monoprix at 52 Champs-Elysees

In June 2012, QIA took the decision to buy 52 Champs-Elysees and invest in one of the most central properties "on the busiest street of Europe". Over the last five years, QIA worked closely with the local authorities, world-renowned architects and design agencies, and key global luxury tenants to transform the building into an iconic property that would truly represent the history and status of the Parisian lifestyle on the Champs-Elysees. 
Also, best-in-class companies were mandated to assist on the planning and delivery of the project. These included architects PCA, project manager Altarea Cogedim, Bouygues Construction and asset manager 52 Capital. 
A Qatar Investment Authority spokesperson said, “This project is a testament to the local stakeholders, government authorities and the local workforce who have helped QIA transform 52 Champs-Elysees into an asset that represents the traditions of Champs-Elysees, combined with the highest modern standards of the 21st century.
“This project redefines what historic renovation can achieve with the collaboration of all stakeholders, and sets a new standard in premium retail and office real estate. As long-term holder of this space, we are pleased to have contributed to the Champs-Elysees’ revival as a world-class retail destination, and look forward to welcoming more new and renowned global brands to the avenue.” 
QIA said 52 Champs-Elysees has been built in compliance with the highest standards, rigorous environmental and energy performance standards, guaranteed by Breeam Excellent rating and HQE Exceptionnel certifications.