Horizon AM, an asset management firm specialised in private real estate in the residential sector in France and Europe, has announced financing for a portfolio of three major real estate projects in Montfermeil and Pavillon-sous-Bois in Seine-Saint-Denis, to further the development of the Greater Paris project. The sale price has not been disclosed. “These three projects have the common quality of creating residences on a human scale, transforming former detached residences, and optimising their capacity for reconstruction. In a period when real estate scarcity is one of the largest causes of the housing gap, this change from individual to collective living will help to develop new ranges of offerings at affordable prices, while preventing a real estate sprawl,” a statement from Arnaud Monnet, CEO, explains. Greater Paris is considered to be the largest task for France in the century, with a primary objective of making the French capital the fifth-largest metropolitan area in the world. This will represent EUR35bn in investment, 800,000 jobs created, 68 new railway stations, and 200 kilometres of new metro lines (four new lines, and two extended lines). In real estate, this will be equivalent to a need to construct 70,000 new homes per year until 2030.