RealCast: Italian economy on the up, life companies in life science, bidding for Barcelona
In the spotlight this week
In Italy, GDP growth forecasts have been revised upwards to an incredible 5%, the vaccination program is progressing well and prime minister Draghi is holding the coalition together. So, confidence is high, not least in the property sector where Apollo and Blackstone have each bought portfolios. And in Milan, while a consortium has been chosen to redevelop a former slaughterhouse with the largest carbon negative social housing project in Italy, an investment platform has been launched to develop Seimilano, a new mixed-use neighbourhood in Italy’s business and economic capital.
Elsewhere, warehouse robotics are one of proptech’a growth areas, and the life science sector has attracted the attention of notable institutions Swiss Life and Axa IM Alts.
Spain remains in the headlines too, and while the sale of a Barcelona hotel attracted 20 potential bidders, Hines and Henderson Park have a number of schemes on the go in the 22@ district of the city, the latest being an office development utilising timber, putting it high on the ESG scale.
ESG is also in the spotlight in London where the South Bank’s “most sustainable office tower” has got a planning go-ahead.
And in other news, Rikke Lykke’s new job is revealed, plus new evidence indicates that “the return to the office” is looking more plausible and even sustainable.
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