EIRE: Italy's Parsitalia presents mega mall project in Rome

Italian developer Parsitalia Real Estate has presented its largest shopping centre development at the Expo Italia Real Estate trade fair in Milan.

Located in the Laurentino area of Rome, near to the capital's ring road, Laurentino shopping centre will provide a total of 62,000 m2 of gross lettable area over 135 shops.

The Laurentino mall is the largest shopping centre project in the capital and has been in the planning stage for years. In 2007, it was sold to investors Degi and Irish Life Insurance for an estimated price of €357 mln. However, the deal was ultimately aborted and delivery of the scheme, which was first scheduled for 2010, was postponed.

The scheme, which is now due for completion at the end of 2014, will also include a hypermarket, a multiplex and a fitness centre, as well as 16 bars and restaurants and 3,000 parking spaces. The marketing of the asset has been entrusted to Cushman & Wakefield.

Luca Parnasi, Chief Executive of Parsitalia Real Estate, said that the mall is targeting a Very Good rating under BREEAM environmental standards.