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industrial Market News: Spanish Real Estate Intelligence

Huawei doubles in Italy. A design centre to open in Milan
05 December, Il Sole 24 Ore Huawei chose Milan to double its presence in Italy. The Chinese multinational will open a new research and development centre serving the entire group not far from Piazza Duomo. It will be its second presence in the country, as the company has another centre in Segrate, near Milan, which opened in 2008 and it’s specialised in microwave technology. The centre mainly studies the connections between mobile networks and the use of very high frequencies such as 90 and 150 GHz. Thomas Miao, Huawei Italia Ceo, commented with Il Sole 24 Ore: “The R&D centre in Milan will focus on fashion and design, the distinctive elements of Made in Italy”. The centre will open in January. Thomas Miao has been working for Huawei for 16 years and has been the Ceo for Italy for one year. He says it with pride, after having started as an engineer and then as a manager in Ukraine and Russia for a total of 14 years away from China. Huawei is gradually becoming the symbol of Chinese hi-tech, despite the increasing concerns about safety and the commercial conflict between the US with Trump and China with Xi Jinping. Miao replies: “these worries are not based on facts. We encourage dialogue. We’re not talking about something that doesn’t exist. We’ve been operating on the market for 30 years, and our products are sold in 170 countries”. The facts that Miao is talking about are: “We’re about to open a cybersecurity centre in Brussels, the first in Europe”. Besides, he reminds that, concerning consumer products, the company’s smartphones “are basically at the same level as Samsung”. After all, Huawei is an established reality staffing 850 people (“we want to hire more”) between Milan and Rome, with a turnover of 1.5 billion, 50% of which derived from the consumer segment, while the remainder is divided between enterprise products (for companies) and carrier solutions (for infrastructures and networks). This percentage reflects its global turnover. The Chinese multinational – profits 92.5 billion dollar in 2017 (+15.7% from 2016) – has 180 thousand employees. Since Huawei invests in research & development 15% of the total profits, it made sense to open another R&D centre for its 15 years in Italy. The new centre will be “a hub for all our partners and the companies wanting to work with us on prototypes, models and products”. The company aims at doing so by giving a strong signal with a centre right in the heart of Milan. “Milan is the most representative place of Italian fashion”. The R&D centre will employ about 20 people. For Huawei, the operation is aligned with its goals concerning 5G. “Italy is an advanced country in Europe thanks to the researches in Mise and to those we’re collaborating with Tim in Bari and Matera”. There are all the reasons to think about the commitment of Huawei to Italy. A market which is “friendly, open and transparent”. What about the cons? “The complex procedures and the red tape”. Source: Il Sole 24 Ore Translator: Cristina Ambrosi
 
Positive performance of real estate
03 December, Italia Oggi If press releases were a valid indicator for economic trends, we would definitely say that real estate one of the most dynamic industries. New real estate operations are being announced almost on a daily basis. Most of them involve international investment funds. This trend emerged during a conference organised in Milan by Dla Piper: 75% of the real estate investments in Italy in 2018 has been carried out by international players. The first half of the year reported investments for 3.7 billion euro, with 1.3 billion in the office segment (-30%), while retail reported an increase with investments for 1.5 billion (31%). Industrial assets collected 0.6 billion (+57%), while hotel investments decreased by 50% with 0.3 billion. According to the experts, the trend for the end of the year and first months of next year might be positive, as long as some measures that were announced by the Government, such as closing shopping centres on Sundays, won’t be introduced. The decision might, in fact, deter investors, as it already happened with Cigierre. The Italian company that manages the fast-food chain Old Wild West, worth 750 million euro, had to postpone its sale operation due to the doubts of the potential buyers. Source: Italia Oggi Translator: Cristina Ambrosi
 
Prelios and Tpg obtained the Bari freight terminal
04 December, Milano Finanza The company Interporto Regionale della Puglia, which operates the related logistics facility in Bari, will be transferred to a real estate fund managed by Prelios and subscribed by the American investment fund Tpg Sixth Street Partners for 41 million euro. The object of the transfer is Interporto Regionale della Puglia as well as its subsidiary Italfinance. The proceeds will be used to repay debts towards creditors amounting to 130 million euro in total. The news was disclosed by La Gazzetta del Mezzogiorno, stating that the Bari Bankruptcy Court is to issue a judgement concerning the two agreements among creditors. Interporto Regionale della Puglia has allegedly reached settlements with 36 creditors representing little less than 80% of its 95-million debt, while the subsidiary Italfinance has closed 24 agreements so far, namely 93.7% of the 27.1 million debt, resulting in write-offs of respectively 122 and 51.2 million. A large part of the debts is towards banks. Mps alone has 48.4 credit, followed by Banca Marche. The property fund managed by Prelios will acquire the credits. Source: Milano Finanza Translator: Cristina Ambrosi