Along Lisbon’s Avenida da Liberdade, a half-dozen vacant buildings mar a boulevard lined with gardens, ornately tiled sidewalks and luxury shops that’s considered the Champs-Elysees of the Portuguese capital.
Groupama SA plans to sell a building on Paris’s Avenue des Champs Elysees, Europe’s most expensive shopping street, for more than 500 million euros ($660 million), according to three people with knowledge of the sale.
Marks & Spencer Group Plc , the U.K.’s largest clothing retailer, will re-enter France after a decade-long hiatus by opening a store on Paris’s Champs-Elysees and plans to add more outlets in and around the capital city.
Majid al-Abdulaziz, a 39-year-old sports teacher from Riyadh, is on vacation in Paris for the third summer in a row with his veiled wife, three daughters and son. He doesn’t think he’ll be back next year.
For decades, France’s elite troops have marched down the Avenue des Champs-Elysees in Paris to mark Bastille Day, passing countless tricolor flags and -- almost as important to French national identity -- dealerships for PSA Peugeot Citroen and Renault SA. Next summer, they may also find a Volkswagen AG showroom on their route.
When a 44 million-euro ($59 million) Parisian townhouse near the Champs-Elysees was snapped up just six weeks after it was put on the block, Charles-Marie Jottras knew the city’s luxury property market was turning around.