Qatar’s investors bet on Quadrilatero in Milan

26 October, Libero

Big international investors are watching with interest at the developments of Milan’s property market, still considered very interesting from an economic point of view. Arab investors have been the most active in the past few years, acquiring full developments or single buildings, without forgetting the very profitable segment of luxury hotels.

A large part of the activities come from Qatar. Its sovereign fund acquired in 2015 the Porta Nuova project, while the royal family Al-Thani bought to renovate the five-star hotel Excelsior Gallia in Piazza Duca d’Aosta in 2011. Qatar investors are now looking at investing in the old town, with a focus on Quadrilatero. They have been studying which streets offer the highest profits, especially profits from the rental of commercial space, showrooms, offices and boutiques to the major international fashion brands. The survey identified the area comprised between Via Montenapoleone, Via Verri and Via Sant’Andrea, this latter being the most expensive but still offering high margins nonetheless. And, most importantly, with no risk of unlet spaces.

Milan wealthy families, who have owned the properties in this area for generations, received considerable offers. These properties, in fact, are owned mainly by privates.

The purchasing prices start from 70 thousand euro, and they may reach even 100 million euro for the most prestigious buildings. An excellent price, concerning that rents in the area are 8-10 thousand euro/Sq m.

Source: Libero

Translator: Cristina Ambrosi

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