Top 10 investable projects: Porto Vivo, Italy

Project overview

Porto Vivo is the project for the redevelopment and regeneration of the former port of Trieste, Porto Vecchio – one of the most important sites for maritime industrial history in the Mediterranean.

The 66 ha area features five piers and 35 large buildings, including hangars and warehouses, all located a short distance from downtown Trieste.

The revitalisation project will focus on high-tech activities supporting the establishment of operations related to cultural and creative industries, with the aim of boosting both the tourism sector and the museum system, all while creating spaces for sports and outdoor events.

Porto Vivo is in a strategic location at the intersection of key maritime routes and the central TEN-T Network corridors of the Baltic-Adriatic and the Mediterranean. This project of urban redevelopment will transform the area into a lively neighbourhood open to all.

The opportunity

Porto Vivo offers medium and longer-term investment opportunities across the residential, office, tourism/hospitality, logistics, GDO and retail, wellness centres sectors.

Divided into six functional lots, the project will encompass commercial, office and residential developments. The overarching goal is to reintegrate this former port area into the city, improving the connections with the surrounding urban landscape, encouraging sustainable mobility and developing essential infrastructure networks. This will include both transversal and longitudinal transport links, effectively enhancing accessibility within the area and the broader city.

Investment will create a Urban Linear Park that seamlessly connects Porto Vecchio to the city, the sea and the Karst. This will enhance the identity of the site and develop its economic, sociocultural, tourism, environmental and landscape potential.

The financials

Porto Vivo offers the opportunity for investment – investor, equity, co-development, development funder and construction partners.

The total private investment is €620 million, consisting of two parts: investments in concessions of €162 million; and investments in acquisitions and works in private construction estimated at €458 million as a starting price.

This is supported by the public investment of €380 million, for a total value of the redevelopment project of €1 billion.

Project sponsor

Porto Vivo is owned by the Comune of Trieste, and the project is being run in partnership with Porto Vivo and the Regione Autonoma Friuli Venezia Giulia.

Significance

Investment in Porto Vivo can deliver significant financial, social and environmental outcomes with long-term growth potential. Porto Vivo is strategically located at the intersection of key maritime routes and the central TEN-T Network corridors of the Baltic-Adriatic and the Mediterranean – a thriving hub for tourism and commerce.

The pitch

Porto Vivo is divided into six functional lots. It has a ready-to-develop land area of 617,000 sq m (gross floor area 214,654 sq m), comprising five piers and 35 buildings. Investment is sought for residential, office, tourism/hospitality, logistics, GDO and retail, wellness centres and beach resorts. The risk profile is value-added.