AXA Reim is planning to launch a pan-European outsourcing company to rival Land Securities Trillium and Mapeley.
AXA Real Estate Investment Management, which manages a property portfolio worth ¬18bn (£11bn) across Europe, is understood to have held talks with several investors to fund a rival outsourcing company.
The introduction of a third company to bid for corporate outsourcing deals would revive the market, which has suffered from a lack of sufficient competition. The project, which is spearheaded by Paul Marcuse, chief executive of AXA Reim group, was kick-started six months ago with a drive to investigate opportunities in the market.
Property Week 03/05/02 page 3
