MILAN, Feb. 8 (Class Editori) -- The Milanese building based in Piazza Cordusio, Milan, which once was UniCredit's headquarters, will be ready by the end of 2021. It will be a combination of retail, office, and restaurant areas. "People are really interested in this project and this is a hopeful sign," explains Antoine Castro, CEO of PAREF Groupe and Global Partner of Fosun Hive, during his speech at the China Awards, the event held by Class Editori together with the Italy China Foundation.
Fosun invested 450 million in this relaunch project. JLL, CBRE and Cushman & Wakefield will be responsible for the marketing of the spaces of The Medelan. The building will reopen by the end of 2021 after a major redevelopment work.
In 2015, Fidelidade, a Portuguese insurance company controlled by the Chinese giant Fosun, bought the building. IDeA Fimit SGR had sold the asset in exchange for a 344-million-euro cheque. The Group led by Guo Guangchang had then transferred the asset to the portfolio of the Broggi Fund, managed by DeA Capital Real Estate, the asset management company owned by the De Agostini Group.
The redevelopment involves an entire block, where the bank, after its gradual growth in size over the years, had merged the former Credito Italiano building with the Magazzini Contratti building, including the wing designed by Giovanni Muzio in 1960, the unusual copper coverings on the façade of which will be preserved.
The redevelopment project of the three buildings will include 12,000 square meters of retail space in the basement and on the first floor. More than 20,000 square meters of office space will be created from the second to the fifth floor, while the sixth and last floor, about 2,000 square meters overall, will host a bar and a restaurant sharing a panoramic rooftop overlooking the heart of the city. (All rights reserved)
(Source:Class Editori)
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