14 December, Libero Milano
In Milan, construction sites will work non-stop until 2020. In fact, while real estate investments have been positive for this year, the outlook for the next three years is even better. According to the figures presented yesterday by Scenari Immobiliari and Casa.it, the investments in the sector will amount to 12 billion euro by 2020. There are projects for new houses and offices concerning a total surface of 5 million Sq m in Milan and the neighbouring cities for a total of 5 thousand apartments.
Construction will concern this whole area from north to south. The most extended area will be that of Sesto San Giovanni, where the requalification of the former Falck area is currently taking place, with its 145 hectares is one of the biggest requalification projects in Europe. Here, there are 629,187 Sq m that will be destined to social and municipality agreement housing. While in the east, in the city of Sesto San Giovanni, the works in the former Marelli plant are continuing. About one-third of the total 42 thousand Sq m of residential units is already completed.
As we enter in the city of Milan, the neighbourhood of Adriano, in the north-west, is involved in the Integrated Plan Adriano. On about 306,724 Sq m between commercial properties, offices and services, there will be new residences for 167,340 Sq m. The works are already halfway, and they’ll likely be completed by 2020.
Residential units will rise also in the north-western part, starting from Nuova Bovisa, where on a surface of about 850 thousand Sq m, 300 thousand will be dedicated to new residences. Not far away, in Cascina Merlata, the north-western gate to Milan, 240 new apartments distributed in three buildings are ready. Prices are not too high for Milan standards, going from 2,300 to 2,700 euro per Sq m. The north is also concerned by new developments. Here, the most significant intervention regards Santa Giulia for the former areas of Redaelli and Montedison. About 1.2 million Sq m will be completely reclaimed. New shops and offices will requalify the area and residential developments for 213 thousand Sq m will grant the repopulation of the area.
Whereas the works in the eastern part of the city, in Lambrate, are already halfway, where Pru Rubattino sees the construction of residences for about 165 thousand Sq m (half of which under municipality agreement).
Baggio too is going under an important requalification project, where on the vacant land of Piazza D’Armi houses for about 249 thousand Sq m will be built and the new Inter FC headquarters might rise here. New houses will rise also in the west, in the former Calchi Taeggi area. While near City Life, Portello Nord will undergo a significant transformation, with new houses for a total surface of 75 thousand Sq m. We must remind also the more central area of Porta Nuova, where, among the skyscrapers, free construction interventions will be implemented for 31,500 Sq m. Whereas smaller interventions will concern Cernusco sul Naviglio, Dergano, Affori and Città Studi.
“This is just an outlook but we’re expecting a 90% coverage of such interventions, given the current trend of real estate”, explained Mario Breglia, Scenari Immobiliari president. In fact, the property market of Lombardy is the biggest in Italy with 123 thousand transactions in 2017 representing 22.2% of the national total. This number is destined to grow further in 2018 by 1.3% to the point that it’s estimated that transactions in Lombardy will reach 192 thousand by 2020.
Source: Libero Milano
Translator: Cristina Ambrosi