RealCast: Regeneration in Milan, Dublin and Berlin; new retail giant, MAPIC in the diary
In the spotlight this week:
Milan’s urban regeneration initiatives are again to the fore. This time Hines has won the contract to regenerate the 90,000 sq m Nodo Bovisa area with a €200 million mixed-use scheme due to be completed by 2026. Part will be converted to student housing by an italian company Campus X.
This is one of a series of European regeneration schemes that reflect current concerns. UK REIT Hammerson has applied for planning for part of regeneration scheme in central Dublin, in Berlin Brookfield Properties is planning to spend €200 million remodelling Potzdammer Platz.
And in the UK, London’s transport authority aims to develop 10,000 homes on various sites through joint venture partnerships.
Meanwhile, asset manager Tristan is buying a €1 billion diversified real estate portfolio bringing it 69 different assets across Germany’s key markets and a newly established property company, Aurora Eiendom, aims to become one of Norway’s largest shopping centre owners, something that may well be discussed at MAPIC, the international retail property market which will go ahead in Cannes in November.
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