NEWS

Milan, 11 November 2020 - Coima SGR, Covivio and Prada Holding S.p.A. has been awarded the tender by FS Sistemi Urbani Srl and Rete Ferroviaria Italiana SpA for the acquisition of the Porta Romana railway yard in Milan for c. €180 million (in addition to the portion of 26,000 sq m of the railways). The 190,000 sq m site is in the south-east area of Milan and will be home to the Olympic Village for the athletes of the 2026 Winter Olympics. The acquisition will be made through the real estate investment fund "Porta Romana". This investment will enable the regeneration of a decommissioned area inspired by principles of sustainability, with a project comparable to the best urban regeneration schemes in Europe. Inside the railway yard, COIMA will develop the residential component and the Olympic Village, which will be transformed later into student housing; Covivio will develop office functions and services; Prada Holding S.p.A., mainly interested in the quality of the park, will build a building for laboratory and office for its activities.

Patrizio Bertelli, main shareholder of Prada Holding S.p.A., said: “Twenty years ago, the Prada Group decided to build its own business center and a public cultural complex in the neighborhood overlooking Via Brembo - Via Lorenzini, which today houses the Fondazione Prada. For several years, looking out from the terraces of the museum, we admired the large space of the disused railway station, remembering the history of industrial Milan, in the hope that its memory would not be lost; for this reason, when the Railways decided to dismantle the area, we took action to find partners who would share with us the purpose of preserving the harmony of the spaces, enriching the life of the neighborhood, a purpose for which we decided to participate in this great undertaking”.