'There's a demand in the real estate market for environmentally friendly properties.'

The redevelopment of Italian real estate is attracting major international players in the field. Here are the plans of Agdian, ready to double its presence in our country.

The vitality of the real estate market, especially in the city of Milan, knows no respite, despite the slowdown in the economy and high interest rates. This is evidenced by the numerous construction sites in the center of the Lombard capital, opened by international operators such as Ardian, a French investor that has extensive experience in acquiring office buildings in Europe. We spoke to Matteo Minardi, head of real estate in Italy at Ardian, to understand the reasons behind the industry's growth.

What is the reason you are active in Italy, particularly Milan? "

Italy,'''together with France, Germany and Spain, is one of the main markets in which we are present. It is a market with great growth potential, given the low number of green Class A buildings (only 15% in Milan). In Italy, we have already invested more than a billion euros through a dozen renovation projects. The city of Milan is one of the most interesting areas on a global scale and offers many opportunities, suffice it to say that the share of international investors has increased from 30 to 70% in recent years.

How do you select properties for redevelopment?

We mainly focus on sites located in the historic city center that can be redeveloped to create sustainable spaces. We''We purchase the entire building and undertake a complete renovation to minimize carbon emissions but still retain its historic value.

What expansion plans do you have in Italy?

We plan to double our presence in Italy by investing another one billion euros in new projects over the next three years, with a focus on other sectors including housing, including student hostels. We believe there are opportunities in other cities such as Bologna, Parma and Florence where the presence of tourists and students is high.

What sectors are working''our client companies?

These are predominantly financial services and fintech companies. Suffice it to say that among our most recent projects, the building on Via Santa Margherita 11 will house the main center of Zurich Bank in Italy, and recently Satispay has occupied an 8,500 square meter building in Piazza Fidia 1, in the Isola quarter. For Ardian, it is the most advanced building in Europe thanks to its concentration of technology, digital infrastructure and renewable energy.

You recently launched a project in the residential sector, why this selection?

The demand for eco-friendly homes far exceeds supply. To meet the market demand, we are renovating a 4,000-square-meter villa in the city of Milan, on Via''Revere, in the Magenta neighborhood (pictured), and will start selling apartments in the near future. The residential sector is a very interesting asset for Ardian in which we plan to invest in the coming years, capitalizing on the lack of supply of quality product. To date, our international portfolio consists of approximately 80% offices and the remaining 20% consists of a mix of properties including residential and hotels.

The link to the full article was published in the November 2023 issue of Wall Street Italia. Click sdtag/strong> to subscribe.