Draco to invest EUR 50m in Skyline project

Italian firm Draco unveiled plans for three new commercial development projects at the Expo Italia Real Estate (EIRE) fair in Milan this week.

The real estate developer, based in the northern Italian city of Brescia, said on Tuesday that it is investing around EUR 50 mln for the construction of the Skyline 18 mixed-use complex near the centre of Brescia.

The scheme will provide around 11,000 m² of residential and commercial space over 18 floors. The complex is designed by architects Studio Archa and is scheduled for completed in March 2011.

The company announced it is developing three hotels, named Andromeda, Vascello and Green Park, in Valmontone on the outskirts of Rome. The hotels will have a capacity of up to 600 rooms. Draco is already developing the Fashion District Valmontone Outlet and the Rainbow Magicland thematic park on a 150-hectare site in the area.

A further 42,000 m² of residential and commercial space are being developed in the Comparto Milano area of Brescia, with completion planned for 2015.