Porta Nuova

Redevelopment into a carbon-neutral grade A office building 

Porta Nuova, Milan

Porta Nuova is a vacant office building in an excellent location in Milan, along one of the major transport links between the historic city center and Porta Nuova CBD. It will be retrofitted into a high-quality, 17,600 sqm core office complex across two buildings.

The asset will be fully redeveloped into a carbon-neutral grade A office building. It forms part of a large-scale asset management and redevelopment program by Allianz Real Estate in Italy and across Europe, aimed at creating best-in-class buildings that offer an ideal work-live-play balance and incorporate leading ESG profiles.

The asset will be EU taxonomy compliant, as well as qualify as a Nearly Zero-Energy building as per the European Commission.

What are we proud of?

This asset redevelopment counts amongst the most ambitious projects in Europe.

Facts & figures

Asset namePorta Nuova
Asset typeOffice
Investment typeManage-to-Core
Investment structure Directly held
Size17,600 sqm
Signing date 2021
SustainabilityOn completion, the Porta Nuova asset is expected to obtain LEED Platinum and WELL Gold certifications. It will be EU taxonomy compliant and qualify as a Nearly Zero-Energy Building as defined by the European Commission. The asset will also meet Carbon Risk Real Estate Monitor (CRREM) sustainability standards.
Investment EUR 143 million