Geneva pension fund buys Fermenich office block
The Geneva state pension fund has bought the large Fermenich office building in Jonction. The perfume company will move its centre of town operations to its Satigny plant.
The acquisition cost the pension fund CHF 70m.
The Geneva president, Francois Longchamp, says the deal is good news for the canton. The building plot will now form part of the redevelopment of the La Praille –Acacias – Vernets region.
Although plans are yet to be finalized, the plan is to keep the 1964 office block, but convert it to housing and create a cultural area.