COIMA has unveiled plans to invest up to €5bn in urban regeneration projects over the coming five years. The company will launch an evergreen fund with a focus on prime assets and a develop-to-core strategy, with an investment target of €2bn and a first close expected this year. Its new Private Rented Sector (PRS) fund, investing in all residential subsectors including student housing and senior living, will have a target of €1bn with the first close in 2022. COIMA Opportunity Fund III will have a value-add strategy operating across various asset classes, with a target of €500m and a first close also planned for 2022.
Over the past five years, COIMA has contributed to urban regeneration projects with an economic value of over €3bn. 100% of the Group’s new developments will be aligned with the 2050 decarbonisation target of 2°C and will be both LEED® and WELL® certified.
The Group will also maintain its investment strategy in the logistics sector – the asset class already growing strongly, but which is expected to undergo further growth – and tourism, a key asset for the Italian economy which, severely hit by the pandemic, is also expected to make a strong recovery in 2022-2023. COIMA’s investment intentions have been announced alongside the establishment of a holding company to become the COIMA Group, and a new company – COIMA Human Technology (HT) – that will operate in the technological and digital field to support urban regeneration and digital transformation of physical spaces.
COIMA HT represents a total investment of €28.4m with the aim of increasing the value of assets, improving the level of satisfaction and wellbeing of occupants, having a positive effect on environmental impact and aspects of social inclusiveness, and offering innovative services and personalised experiences. In partnership with QIA – Qatar Investment Authority – and in collaboration with McKinsey and Accenture, COIMA HT is planning a pilot project at Porta Nuova, collecting and analysing data from users and visitors, for the development of smart spaces, activities and services.
Manfredi Catella, COIMA Founder & CEO said: “The decision of our founder shareholders to establish the COIMA Group after more than 40 years represents an important milestone in the corporate journey we began in 1974. We are proud to bring the many strands of our business together under one group that is well placed to contribute to the enhancement of the Italian territory as a strategic resource for economic development, to enable the targets outlined by the European Green Deal and to deliver the missions of the national recovery plan approved by the Italian Government. It is now crucial to work on projects and on the capacity of our companies to develop mutually beneficial public-private and market partnerships to speedily contribute to the country’s ambitions and compete on an international scale.”