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land Market News: Italian Real Estate Intelligence

Foruminvest bought land to develop new hotel near Malpensa
14 April, Monitor Immobiliare Foruminvest Italia acquired an 11,500 Sqm land plot to develop a new hotel in MXP Business Park, close to Milan's Malpensa airport. The hotel will offer 240 rooms, a fitness centre, a restaurant, a bar, a swimming pool and a panoramic terrace. Construction works will start in Q2 2022, and the inauguration is expected by Q4 2023. The transaction was finalized with Villa Carmen Srl, a joint venture of Schiphol Real Estate, Finiper and Michele Molina CM. Source: Monitor Immobiliare Translator: Cristina Ambrosi
 
Hines and Allianz RE to partner in last-mile logistics in Milan
13 April, Monitor Immobiliare Through Urban Mile Fund managed by Blue Sgr, Hines acquired a 110,000 Sqm area in Via Rubattino, Milan, in partnership with Allianz RE to develop a last-mile logistic hub. The new hub will be implemented with a total investment of €80 million and will be ready in 36 months. The asset will be compliant with the CREEM sustainability metrics and part of the requalification project that concerns the Rubattino area. Source: Monitor Immobiliare Translator: Cristina Ambrosi