Partners

The founding act of Paris Val d’Europe was the Agreement signed in 1987 between the French Public Authorities and The Walt Disney Company. It defines very precisely each party’s role in the development of a 2000 hectare site for a 30-year period.

EPA France, the Public Development Authority is responsible, as its name indicates, for the development of the whole project. Euro Disney SCA is the main developer and the company makes sure all goes well during the town’s different construction phases, in collaboration with EPA France and the Syndicat d’Agglomération Nouvelle (SAN). The SAN du Val d’Europe (the new town corporation) groups together five municipalities (Bailly-Romainvilliers, Chessy, Coupvray, Magny-le-Hongre and Serris) that cover the Val d’Europe territory.

The Operator Home Business is part of the MMV (Mer Montagne Vacances) group which is one of the leaders in the tourism industry in France.

The group is divided into three separate departments: MMV Gestion (Hotels), SAS Mer et Montagnes (tourism residences located in the mountains or by the sea) and Home Business (business traveler and tourism residences located in large towns and cities).

MMV is the second largest operator in the French Alps, managing 15 establishments which represents 4,500 beds. In 2004, they accommodated over 60,000 holidays makers, employing over 600 people, and realized a turnover of €22 million.

Operation of Paris Val d’Europe ‘Home Business’ have secured the commercial lease on the property and will manage the complex as a 4 star apartment hotel.

The idea behind the Home Business brand is based on the following concepts:

Space and comfort – 30% more than equivalent tourist hotels

Established in urban and suburban environments

Built on European sites, selected for their strong potential to attract a mix of business and tourist customers.

The 4 Star graded accommodation will include:

• Air Conditioning
• Private telephone lines for each apartment
• ADSL connection in bedroom and living room
• Magnetic card storage safe
• Satellite TV, DVD, CD
• Office space provided within each apartment
• Fully equipped kitchen and bathroom

A complete range of services will offer maximum comfort for guests, including:

• Fully equipped meeting room
• 24 hour trilingual reception
• Office service (fax, e-mail)
• 24 hour bar service
• Coffee facilities
• Laundry facilities

Home Business will partner with local companies to provide the residents with additional facilities:

• Ironing service
• Food delivery service
• Baby sitting
• Car Hire
• Delicatessen
• Translation service

A bank guarantee is in place for the completion of the building.

Specifications

The apartments in Home Business Val d’Europe will be finished to the highest specification, and to ensure consistency and quality apartment owners are obliged to purchase the proposed furniture package as specified by Home Business.

Residence de Tourisme Scheme

Deriving much of its Gross National Product from tourism, the French government has devised ‘Sale and Leaseback’, an investment strategy that will enhance the development of serviced apartment-buildings, aimed at meeting the needs of an ever increasing tourist accommodation demand.

The French government has given tax breaks to developers in order to encourage them to build ‘Residence du Tourisme’ developments. This VAT refund (which is currently 19.6%) is passed on to purchasers to act as an incentive to invest in the scheme.

This investment opportunity works on the principle that the purchaser buys a freehold apartment, furnishes it and leases it back to Home Business for a lease term of 11 years, 3 months. For the duration of the lease, the property is maintained and aside from normal wear and tear, the property is returned to the owner in good condition at the end of the lease period.