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Expo Italia Real Estate: Better mood and better food

During my last European trip I attended the Expo Italia RE show. It was good to be back in Milan and I was impressed by what the organizer had pulled off. In its 5th year, the event attracted 350 exhibitors (vs. 395 in 08) and 20,000 attendees. 90 sessions addressed “the relationship between finance and real estate, retail, social housing, tourism and the requalification of land and assets owned by the State. The show was very Italian but attracted some exhibitors from Mediterranean countries and Central Europe.

Tie for best quote:

- Giovanni Feltrin of architects Chapman Taylor when asked why people are not as depressed at this Italian property show: “ We are more used to crises in Italy”

- Doug Johannson of Giffels Logistics “We got it all in Russia: financial crisis, credit market, stock market crash, collapse of oil prices, devaluation of the ruble and escalating political tensions with Western nations due to Georgia”

Interesting initiatives:

- VIPs were invited to an opera on the roof of the Duomo Cathedral, which had never been done before! Grazzie again to Antonio Iniglietta, ExpoItalia President and Simone Finotello (www.creopoint.com/profile/SimoneFinotello) for their creativity and hospitality. For ther closing comments and more about the event see www.italiarealestate.it/web/public/index.php?action=detail&id=476

- Learned that IPD had just launched a global index. They are also developing a commercial property loan book analysis service for banks.

- Also learned that, with $7B, Pirelli RE was by far the top European buyer in Europe in 2008 (way before the French Klepierre, and Unibail-Rodamco). However the Italian group plans to sell $1.3B of assets in 2009 and 20% of their non-performing loan portfolio. I also noted Pirellia HQ2, their RE HQ, which is consistent with their new tagline “Ecobuilding” (see www.ecobuilding.pirellire.com).

- Fabio Moretti (www.creopoint.com/profile/FabioMoretti) of BravoSolution explained how they manage the assignment of tenders within Architecture, Engineering and Construction, and acquired VerticalNet of the US last year.

- Luca Pelliccioli, Founder of DailyRE.info showed me his very interesting www.dailyre.tv program in Italian, which is now also available with other CREOpoint TV channels. They are also the co-organizer of a RE Tourism show sponsored by Venice (Apr 15-18, 2010)

- RICS President Elect Max Croft had an interesting presentation based on data from King Sturge, E&Y and Real Capital Analytics.


Interesting projects:

- Restauration of the St. Peter’s colonnade in the Vatican

- Citylife a new 250,000 sqm project outside Milan designed by Haddid/Libeskind. I met Michael Lamm from EuroHypo who explained that they arranged over $2B. I learned that the European Commission wants Commerzbank to sell EuroHypo by 2014. He also confirmed that European banks were concentrating on their home markets.

- Beni Stabili and Area Garibaldi Tower B by the French “Fonciere des Regions”


The show can only grow by becoming less Italy-centric. Let www.creopoint.com/profile/SimoneFinotello or I know if you have any question or recommendation. Ciao, JC

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Tags: Chapman, Commerzbank, EIRE, European Commission, ExpoItalia, Government, IPD, Pirelli, RE, Real estate, More…Taylor, Unibail-Rodamco, Vatican

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