Covivio, Coima SGR and Prada Holding to develop area in Milan
11/11/2020 11:44
MILAN, Nov 11 (Reuters) - Real estate group Covivio COV.MI
COV.PA , asset management company Coima SGR and Prada Holding
said on Wednesday they would develop an area in Italy's business
capital, Milan, after winning a tender for an old railway yard
for 180 million euros ($212 million).
Milan is attracting most of real estate investment in Italy,
in a country where the property market has never fully recovered
from the global financial crisis.
The project aims at building homes, offices, social housing
and the Olympic village for the athletes of the 2026 Winter
games, as well as a park and public spaces, over an area of
190,000 square metres.
Coima SGR will develop the residential part and the Olympic
village, which will be transformed into student housing at the
end of the games. Covivio will develop offices and services.
Prada Holding, owned by the Bertelli family and which
controls the eponymous luxury group, will build a laboratory and
an office in the area, close to its Fondazione Prada art center.
($1 = 0.8483 euros)
(Reporting by Elisa Anzolin, editing by Giulia Segreti)
((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))