Italian banking giant Unicredit has agreed to lease two of the office towers currently being constructed by American developer Hines in the Porta Nuova area of Milan. The property, which is expected to be completed by the end of 2012, is located in a new urban business park designed by architects Pelli Clarke Pelli.
Italian banking giant Unicredit has agreed to lease two of the office towers currently being constructed by American developer Hines in the Porta Nuova area of Milan. The property, which is expected to be completed by the end of 2012, is located in a new urban business park designed by architects Pelli Clarke Pelli.
'It is one of the largest office leasing deals signed in Europe over the past two years,' said Manfredi Catella, head of Hines Italia. Unicredit is transferring its headquarters to the property as part of its ongoing strategy to rationalise its business locations, currently spread across a number of sites.
The Porta Nuova area is a vast mixed-use redevelopment project aimed at recuperating nearly 300,000 m2 of disused surfaces near the centre of Milan. The project was launched in late 2009 and is being carried out by a Hines-managed development fund.
In the vicinity of Porta Nuova, Beni Stabili has rented its Garibaldi flagship office project to Milan-listed engineering company Maire Tecnimont. The development of the towers, offering 45,000 m2 of office space, involved an investment of EUR 270 mln.
