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Covivio to invest in offices in Milan about 450 mln €

08 October, Il Sole 24 Ore

The real estate company looks positively at the real estate market despite the pandemic.

Covivio accounts for about 50% of the total office investments in Italy registered in the first nine months of 2020. The marketing of its project Symbiosis is going well, and in June 2021 Boehringer Ingelheim will relocate there its office.

In Milan only, Covivio has a managed pipeline of real estate developments equal to 475 million euro. One of the projects, named Vitae, combines real estate development and requalification for the creation of offices and research labs.

Covivio also aims at selling renovated buildings in the city centre for a value of approximately 200 million €. The last deal has been the sale of the offices in Via Cernaia to Bnp Paribas for 94.5 million €.

Finally, the developer is a candidate for the acquisition of the Porta Romana rail yard, a very strategic area since it will host the Olympic village for the 2026 winter games.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi


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