Tag: requalification projects

Grand Hotel de la Minerve in Rome to be renovated by Arsenale

23 February, Bebeez

Arsenale closed an agreement with the Billi family to acquire Grand Hotel de la Minerve in Rome. According to the agreement, the hotel will continue to be managed by Billi for the rest of the year to undergo in 2022 a total overhaul and re-open by Christmas 2023.

The operation is consistent with Arsenale’s strategy of requalifying Italian luxury hotels to offer a new high-quality and innovative product. The company’s objective is to invest approximately 230 million € in the next five years to create an Italian player capable of competing with the biggest international brands.

Source: Bebeez

Translator: Cristina Ambrosi

Rosewood Hotel to open in Rome in an Antirion property

14 January, Bebeez

The luxury hotel brand Rosewood will open its fourth hotel in Italy in 2023. The new hotel will be located in Via Veneto, Rome, and will develop over three buildings formerly occupied by Banca Nazionale del Lavoro and owned by Antirion. Following its requalification, of which Colliers is in charge, the hotel will offer 157 rooms, three restaurants and a rooftop bar with a panoramic view of the city.

Source: Bebeez

Translator: Cristina Ambrosi

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

 

Verona to launch new requalification projects

03 February, Il Sole 24 Ore

Verona is about to start several requalification projects throughout the city. Arsenale will accommodate a covered market, as well as a wing of the Castelvecchio Museum and the Academy of Fine Arts. In the old tobacco factory, there will be developments spanning from commercial activities (7,700 Sq m), offices (11,000 Sq m) and hotels and tourist facilities (18,700 Sq m). Moreover, the area around the new southern train station might undergo requalification combining hospitality, sports facilities and services to the community.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Milan: Porta Romana will accommodate the athletes of the 2026 Olympics

21 January, La Repubblica

The former railyard of Porta Romana will be requalified to implement five buildings which will accommodate approximately 1300 athletes of the 2025 Olympics. After the games, the facilities will be reconverted into student halls.

Source: La Repubblica

Translator: Cristina Ambrosi

Hines and Intesa Sanpaolo reached an agreement over Milanosesto

10 January, Milano Finanza

Milano Finanza reports that Hines and Intesa Sanpaolo found an agreement over the redevelopment of Milanosesto, in the former Falck area in Sesto San Giovanni. According to the plan, a vehicle company will take care of the development of the first lot covering a 1.4 million Sq m surface. The newco will have Milanosesto among its shareholders, while Hines will bring equity for approximately 250 million. Intesa Sanpaolo will finance the first 18 months of the project for an amount between 250 and 300 million euro.

Source: Milano Finanza

Translator: Cristina Ambrosi

The main real estate developments in Milan in 2019

31 December, Urbanfile

The real estate activities in Milan in the year just concluded had been thriving, starting from the announcement of the construction of a fourth tower (maybe a fifth one too) in City Life. Moreover, the masterplan for the rail yards Farini and San Cristoforo was presented. In Cascina Merlata, the first apartment building of the Uptown district was inaugurated. The building in Via Cordusio n. 2 was requalified to accommodate the first Uniqlo store in Italy. Finally, Torre Galfa will soon re-open following the requalification works by Unipol.

Source: Urbanfile

Translator: Cristina Ambrosi

The Treasury to sell assets for 284 billion euro

14 November, We Wealth

Invimit Sgr (100% owned by the Italian Ministry of Treasury) is currently working on an operation to sell or requalify public properties for a value of 600 million. According to the latest reports, the assets owned by Government bodies in Italy amount to 284 billion euro, covering a surface of 340 million Sq m. Invimit manages assets for 1.6 billion euro and holds approximately 300 assets.

Invimit aims at optimizing the assets by selling those properties that are not consistent with the Government’s strategy and put them on the market in order to use the proceeds for better purposes. 76% of the estimated value comes from properties owned by the local authorities. Therefore, it’s necessary to seek Municipalities’ cooperation in order to requalify the estate.

For this purpose, Invimit put in place different strategies: from the constitution of the fund Dante for a value of 250-300 million euro to selling directly real estate portfolios as well as retailing the single properties through online auctions.

Source: We Wealth

Translator: Cristina Ambrosi

Milan to invest 13 billion euro in the next 10 years

12 November, Linkiesta

The Mayor of Milan Beppe Sala announced investments for 13 billion in real estate projects by 2030. Thanks to its efficiency, Milan not only hosts half of the multinationals present in Italy and represents 10% of the domestic GDP, but also reported investments for 1.6 billion euro in the first part of 2019 (+38.9% from 2018). Most of the capitals come from international investors, mainly from the US, Germany and Asia. After having focused on the city centre, investments started to target also the suburbs (580 million euro) and Porta Nuova (402 million).

Moreover, new developments will concern a 730 thousand Sq m area by 2024 for a turnover of 2.9 billion euro, without considering the Olympic games in 2026 and the new football stadium.

The City Administration will concentrate the investments in affordable housing, in the creation of new parks and the regeneration of the suburbs. The focus will be university students and young workers, given that the prices to rent a studio apartment in Milan increased by 6.1% from 2018.

Source: Linkiesta

Translator: Cristina Ambrosi

Milan: the new sustainable real estate of Hines

17 June, Corriere della Sera

Hines plans to invest in Milan 3 billion euro by 2023. The city is at the 15th city globally in terms of allocated capitals, and the fourth in Europe, thanks to the efficient administration of the city, the above-average GDP (32 thousand euro against 15 thousand of Italy), and the lower unemployment rate.

Hines focuses on renting houses, rather than selling them, working with sovereign funds, mostly Asian and European. The company invests where there’s a demand: student halls, senior residences, affordable housing.

Hines is currently working on three main projects: MilanoSesto, the former racecourses in San Siro, and the area near Bocconi University.

Source: Corriere della Sera

Translator: Cristina Ambrosi