Month: September 2017

Veveri, all set for the opening of the new shopping centre “Nov’aria”

 

“The inauguration of the first shop is on 28th September”

 The store Scarpe & Scarpe will open on 28th September and it will be accommodated in the retail centre in Corso Della Vittoria, implemented by renovating the former Carrefour supermarket. The facility has been empty for years and it has now been renovated to accommodate five shops: besides Scarpe & Scarpe, there will be a Unieuro store, a Piazza Italia clothing shop, a furniture shop from the chain Maison Du Monde, and a Roadhouse Grill restaurant. In the facility just beside, close to the new Esselunga supermarket, a new DIY store Obi will open soon.

The “Nov’aria” retail park will employ 400 employees and according to the project, it will also include a green area.

 

Source: http://www.novaratoday.it/economia/apertura-centro-commerciale-veveri.html

Translator: Cristina Ambrosi

 

Milan, state properties: “develop” is the word. Buildings go on auction

 

The non-profit organizations are worried: at the expiration of the concessions, there will be no automatic renewal. In the resolution are contained the guidelines on how to get an income from the public properties

The State Property Office is undergoing a revolution. The council is writing the new rules for the “development” of the properties it owns. The nonprofit organisations are the ones paying the consequences for this decision, as in the future it may be too expensive being based in the old town. The properties within the Bastioni must be “aimed at generating an income”, as the document states. It’s the comeback of the “public” after two attempts of tender for the allocation gone desert.

The key point of the operation will be the creation of a common register for all the assets. It is necessary to centralise the control and the management of the properties under just one local authority. Nowadays the many properties which include residential buildings, commercial properties (shops, garages, depots, and studios), offices, barracks, sports centres, schools, museums, theatres, libraries, are scattered among different departments, from Commerce to Culture.

But the battle now is with the Zones of Milan. Written in this way, the representatives argued during a meeting, the resolutions cancels that little decentralization conquered under the Pisapia administration which brought to the creation of the Zones. This meant the possibility to administer autonomously some assets of the State Property Office, obviously under regular public tenders, in order to accommodate some of the many nonprofit organisations operating in the territory.  There is a number of properties, some of them might even interest the real estate market, that have been empty for years. One for all, the building at number 10 of Corso di Porta Romana, the former headquarters of the Electoral Service Office, then transferred to the Bnp Paribas fund to be sold. The resolution is at the centre of a debate going on between the councillor Roberto Tasca and the president Fabio Arrigoni. The conflict has even landed to the office of the Mayor Beppe Sala. Arrigoni adds: “ at these conditions, Emergency wouldn’t be in Via Santa Croce, as many others, they’re not there for free. They even renovated an abandoned school from the 1940s that was occupied for years by independent communities”. There will no longer be examples like “the WWF headquarters opened in the former greenhouse in Via Tomaso da Cazzaniga – notes the councillor for Public Properties of Zone 1, Elena Grandi – or the hidden farmhouse in Parco Sempione, that a group of associations guided by Legambiente is currently renovating”.  And what about Chiama Milano, located in Via Laghetto? “Will nonprofits be confined to suburbs?” adds Arrigoni, “we must not forget that these organisations don’t occupy public properties for free, but they pay a subsidised rent and that they provide invaluable subsidiary services where the public authority doesn’t arrive”.

The council’s resolution implies the creation of a digital map to trace all the paths and information helpful to develop the assets. The shops on Corso Garibaldi, a few metres away from the  “Falcone e Borsellino” Cam association, have been empty for eight years and they prove the need for a census ( which it’s already in process). There are also the toll-houses of Dazio which the old town administration has countless times requested to put on auction. “Perhaps they may have been already occupied” argues Grandi. The one in Baiamonti is empty, it used to accommodate Cai. The Principessa Clotilde one is empty too, it was supposed to be allocated to the administration of the hospital Fatebenefratelli. Even bigger is the case of the Calchi Taeggi palace at Vigentina gate. It accommodates a kindergarten, a library, a Cam shelter, and a centre for elder people. These spaces will be reserved to deal with the emergency due to the cold temperatures. In the meanwhile, in Brera, a part of the building has been returned to the State Property Office.

 

Source: http://milano.corriere.it/notizie/cronaca/17_settembre_21/milano-demanio-parola-d-ordine-valorizzare-palazzi-vanno-all-asta-352f2a2a-9e9c-11e7-8e38-5c41d07827be.shtml

Translator: Cristina Ambrosi

Michelin, 30 million euro for the new logistic area

 

55 thousand square metres for the plant in Cuneo, it will employee 190 people

The new Michelin logistic area has been recently launched in Cuneo. The facility occupies 55 thousand square metres and has a storage capacity of one million 200 thousand tyres, a capacity able to serve alone the entire regions of Piedmont and Liguria. The investment amounts to 30 million euro and the plant will employ 190 people. “This is the second inauguration in Cuneo, after the one for the annular brakes division. This is a year of kept promises”, comments Lorenzo Rosso, President of Michelin Italia.

Together with the depot, a road connecting the southern entrance of the facility with the Asti-Cuneo motorway has been built. This connection will reduce the daily traffic of the Michelin vehicles by 500 km.

This expansion has brought good consequences on occupation too: in May the number of employees in the Michelin facility in Cuneo raised by 70 new employees. To cut the ribbon there was the Mayor of Cuneo, Federico Borgna.

 

Source: http://www.ansa.it/piemonte/notizie/2017/09/21/michelin-30mln-per-nuova-area-logistica_0ba1dee5-81eb-4604-b32b-c8a991f13d40.html

Translator: Cristina Ambrosi

Sga hires Kpmg for the bad loans of the Venetian banks

 

 

Kpmg will be Sga’s advisor for the management of 18 billion bad loans coming from the former Venetian banks, with an assignment won after a bid which saw the participation of all the main consulting firms of the sector. Kmpg enters when the game is in a crucial phase: while waiting for the Department for Treasury to define the amount of NPLs destined to Sga, necessary for the actual transfer, it is rumoured that a confidentiality agreement has been reached with the banks to access the files and intervene where needed.

In the meanwhile, Sga is working at strengthening its operational structure, currently represented by roughly sixty people. In the past few days, the company has been carrying out interviews with former consultants of the Veneto and Vicenza banks and of Intesa Sanpaolo as well, considering a potential collaboration with the company established to manage the bad loans of Banco di Napoli. Another important step is the selection of the servicing company: an involvement of Intesa is very likely, at least temporarily, before launching the tender to form the pool of operators.

 

Source: https://amp-ilsole24ore-com.cdn.ampproject.org/c/amp.ilsole24ore.com/pagina/AE71pPXC

Translator: Cristina Ambrosi

Conegliano: another shopping centre, right in front of the Conè hypermarket

 

The discount supermarket Aldi opening next February will be one of the first stores in Italy of the big German multinational. The City Council had previously denied the operation. Pd: “Who governs us thinks only about real estate agents”.

The construction works for the new German discount store will cost 2.5 million euro, while a historic grocery store is on sale for 8 thousand euro, looking for buyers. These two facts alone are enough to sum up the situation in Conegliano. Small businesses in the city centre are disappearing, while other big distribution giants are coming. The group Aldi, a company with a turnover estimated at 58 billion euro and over 7,500 stores in Europe, America and Australia, will open next to the shopping centre Conè. The construction site has just started.

It will be one of the very first Aldi stores in Italy, the 15th supermarket in Conegliano, where the multinationals keep finding terrain to build. The opening should be by February. “Who governs us cares more for a few real estate agents, rather than thinking about improving the quality of life of many citizens” shout the representatives of Partito Democratico, that last March signalled the arrival of the new supermarket, with the denial of the City Council. The building permit was already granted in November of the previous year. At the end of August, a few steps away from via Vital, the small grocery store “La dispensa” closed after 55 years.

The last cheese-monger in Conegliano put on sale the activity for 8 thousand euro. Albrecht Discount (Aldi) has been planning for two years the strategic plan for its expansion in Northern and Central Italy. It seeks lots of at least 5 thousand Sq m and a catchment area of 30 thousand inhabitants, in a well-connected and trafficked area. Conegliano and Conè are just perfect. The Aldi supermarket in Conegliano will be the first in Veneto, the central operational and logistic bases have been already established in Verona. In Conegliano, the builders are already working and in five months the new building will be raised and it will develop on a commercial surface of about 2 thousand Sq m.

The total investment for the operation is 2.5 million. According to the opposition, this only means adding more concrete to the city. “In the past few days the ranking of the institutions that took part in the call by the Ministry of Environment has been published, it was dedicated to the Municipalities and had a funding of 35 million euro. Conegliano would have been on the top of that list, as many other cities of the area would, such as Bassano del Grappa and Mira to name a few – explains Alessandro Bortoluzzi, leader of the local Partito Democratico –  instead, our administrators missed the call, as usual. Probably they were too busy giving building concessions to build new supermarkets, of which it is known there is a great need”. The arrival of more concrete in Conegliano is very debated. A news appeared in the British newspapers is that the multinational will market for the first time for next Christmas a 3 litres maxi bottle, the “Prosecco jeroboam”, at only 39.99 pounds.

 

Source: http://m.tribunatreviso.gelocal.it/treviso/cronaca/2017/09/23/news/conegliano-ancora-un-centro-commerciale-proprio-davanti-all-iper-cone-1.15892898

Translator: Cristina Ambrosi

B2 Kapital is buying more Italian NPLs for a value of 175 million euro

 

B2 Kapital srl, the Italian subsidiary of the group listed in Norway N2 Holding, bought on the primary market two non performing loans portfolios for a total gross value of 175 million euro, originating from major banks.

The portfolios are composed of mixed Npls, secured and unsecured, and the operations were completed between the end of June and beginning of July. Last May, B2 Kapital bought from Banca Sella a mixed Npl portfolio of 125.5 million.

Last January, the group bought a 93 million portfolio from Unicredit Bulbank (Bulgaria), while last December it bought a 110 million NPL portfolio from Unicredit Slovenia.

 

Source: https://bebeez.it/2017/09/22/b2-kapital-compra-altri-175-mln-euro-di-npl-italiani/

Translator: Cristina Ambrosi

 

Signs of recovery, sales are growing

 

The survey by Tecnocasa on the first semester of 2017: sales have grown in Rome by 7% and in Milan by 8.3%, in Naples by 9.5%, while they’re falling in Bologna. Prices are unchanged.

In the first semester of 2017, the real estate prices for the big cities have decreased by 0.4%, the most contained reduction ever recorded before. “We’re close to stability and the recovery is starting”, according to Tecnocasa. In Bologna, the price variation has been positive with +1.1%.

In the first semester of the year, the positive signals for the Italian property market are confirmed: sales have increased and prices are stabilising. It has been reported by Tecnocasa as the company highlights how “the Italians are still interested in real estate thanks to the prices never been so low, combined with low rates and a renovated hope due to the general improvement of the macroeconomic situation of the country “. More in detail, in the first semester of the year, compared to the same period of the previous year, sales have increased by 8.6% in Bari, 7.7% in Florence, 7.4% in Genoa, 8.3% in Milan, 9.5% in Naples, 14.6% in Palermo, 7% in Rome, 5.2% in Turin, and 3.8% in Verona. The only negative trend has been registered in Bologna with a fall of 0.5%.

The property prices have fallen by 0.4% in the first semester. This is the most contained reduction ever registered before and it “makes us believe that we’re close to stability and the recovery is starting”,  Tecnocasa says. In fact, some big cities have already started seeing their prices turning positive again, even if the variation is little: Bologna (+ 1.1%), Milan (+ 1.0%), Naples (+0.7%), and Verona (+ 0.5%). The prices in the other cities are falling, with Genoa at the bottom of the list with a loss of 3.0%. For the end of 2017, we can expect a stabilisation of the prices in the big cities and a further reduction in their commuting towns and in the provincial capitals, a trend confirmed by Tecnocasa’s real estate network. Prices will slightly rise in 2018, but only in the big cities and with a growth within 2%.

Sales are assessed to be around 550-570 thousand. “For what concerns leasings, we expect some more rounded up prices in the big cities. The general trend of the economy and of the occupation as well as of the banks, influencing the trust of the potential buyers, will contribute confirming or not the above pictured real estate situation”.

 

Source: Il Resto del Carlino

Translator: Cristina Ambrosi

Recovery of the property market. Palermo, Naples and Milan are booming

 

The growth of the real estate residential market has consolidated in the first semester of 2017, as shown by the Survey by Ufficio Studi Gabetti. A memo s explains that “the fundamental elements have been: the increased number of transactions and the reduction of the time to close a deal, in a context where prices have only slightly changed”. At national level, according to the analysis, in the first six months of 2017, the residential transactions have been 267,506, +6% compared to the same period in 2016. All the macro areas have registered a positive variation: +6.4% in the North, +5.5% in the Centre, and +5.3% in the South. Generally, the variation reported for provincial capitals have been +5.3% and +6.3% for the other cities. The biggest positive variation was recorded in the non provincial capitals of the North (+7.2%), followed by the Centre (+6.7%). Regarding the first eight Italian cities, 49,637 transactions have been registered in total, +7.3% compared to the same period in 2016. Similarly, the remaining provincial capitals have registered a variation of +5.8%. Throughout the whole six months period, Palermo has shown the biggest growth (+14.6%), followed by Naples (+9.5%) and Milan (+8.3%).

Similar trends have been reported in Florence (+7.7%), Genoa (+7.4%), and Rome (+7%). Turin has shown a +5.2% variation, while Bologna has been substantially steady (-0.5%). On the overall, the average price variation in the first semester has been of -0.7%, but with some distinctions: Milan (+0.9%), Bologna (+0.5%), Naples (+0.4%), and Florence (+0.1%) have shown a turnaround, registering positive variations, even if little. Rome (-0.4%), Turin (-1.2%), Palermo (-2.2%), and Genoa (-3.5%)have registered  a fall of prices. The average times to finalize a sale have reduced, going from an average of 5 months in 2016 to 4.8 months in the first semester of 2017.

The figures from Banca d’Italia regarding loans to families to buy a house have shown a positive variation in the first semester. The total amount issued has been 12.3 billion in the first quarter, +11.5% compared to the same period in 2016.

 

Source: http://www.ilmattino.it/napoli/cronaca/mercato_immobiliare_in_ripresa_e_boom_a_palermo_napoli_e_milano-3250820.html

Translator: Cristina Ambrosi

New shopping centre in Camerino

 

It will be built in the S. Paolo area with about 70 businesses

The City Council has approved the preliminary project for the new shopping centre that will be built in the San Paolo area and will accommodate about 70 businesses. The Civil Defence has officialised the financial coverage for six million euro as well as the acquisition costs for the area. The project was initially for three million, but the Municipality wanted to give the city, which lost its square, a place where people can meet. The initial budget wouldn’t have granted the implementation of what, thanks to the extra funding, will become the new square of Camerino during the whole reconstruction process.

 

Source: http://www.ansa.it/marche/notizie/2017/09/19/nuovo-centro-commerciale-a-camerino_6b645fbf-0c06-4dd7-8a14-acc5993e01f4.html

Translator: Cristina Ambrosi

 

The real estate market is waking up, but Genoa is at the bottom of the list

 

Genoa is at the bottom of the list for what concerns real estate figures. If in the first semester of 2017 the main cities registered contained reductions or even a positive trend of the prices, Genoa reported a loss of 3.0%, unlike Bologna (+1.1%), Milan (+1.0%), Naples (+0.7%), and Verona (+0.5%).

Generally, according to Tecnocasa, the figures confirm the positive trend: sales are increasing and prices are close to stabilisation. “Therefore, Italians are still interested in real estate thanks to the prices never been so low, combined with low rates and a renovated hope due to the general improvement of the macroeconomic situation of the country”, explains the real estate agencies company.

The demand is rising and the offer is starting to decrease, especially for the best positioned or the best-conserved properties. The three-roomed apartment is the favourite in the big cities with 40.1%, followed by the four-roomed apartment with 24.7% of the preferences.

The amount people are willing to pay is increasing in the big cities for the lowest price range, the one below 119 thousand euro, which also shows the highest concentration of requests. The analysis of the offer sees the predominance of three-roomed apartments (32.8%), followed by the four-roomed ones with 25%. The times to close a sale are shrinking compared to the previous year and they are currently around 141 days in the big cities, 167 days in the provincial capitals, and 162 days in the commuting towns around the big cities.

In 2017 we’ll see the figures stabilize in the big cities and will reduce further in the commuting towns and in the provincial capitals. The prices are expected to slightly rise in 2018, but only in the big cities, with a growth within 2%. The sales are assessed around 550-570 thousand. For what concerns leasings, we expect some more rounded up prices. The general trend of the economy and of the employment as well as the banks, influencing the trust of the potential buyers, will contribute confirming or not the above pictured real estate situation.

 

Source: http://www.genova24.it/2017/09/mercato-immobiliare-risveglio-del-mattone-genova-fanalino-coda-186273/

Translator: Cristina Ambrosi