Occupier Representation

AXA RE envisaged a building renovation through revitalization of its overall image as well as the increase of services delivered to potential tenants. 

The historic Sony Music headquarters in Milan was no longer capable of representing the identity of the brand and of adapting to the evolution of work modes in a vanguard sector like the music industry, due to a fragmented, inflexible layout that was lacking in spaces for teamwork and events.

A regular update on the commercial real estate market in Italy.

The first half of the year has been quite an eventful period for the world, with some countries ending up in domestic political turmoil, such as UK and Italy. Indeed, in July Italy experienced the collapse of Prime Minister Mario Draghi's national unity government leading the President Mattarella to dissolve the chambers and call new elections for September 25th. Combined with that, the war in Ukraine, the geopolitical turmoil, the energy crises, rising inflation and tightening policy from central banks have all resulted in warns of recession for the global economy. For real estate it means that the low-rate environment is a memory of the past and investors and banks are preparing to face a not-negative interest rate scenario for the upcoming months.

But it will be a story for the next part of the year, while first half ended posting positive outcomes, both for the economy and the property sectors.