Comunicato Stampa Press Release
- WITHDREW THE PERMITS FOR THE CONSTRUCTION OF COM (CASELLE OPEN MALL)
- MARKETING ACTIVITIES STARTED WITH POSITIVE RESULTS
- DEVELOPMENT OF COM AT THE CENTER OF THE BUSINESS PLAN 2019-2024
Milan, 1 October 2019 - Aedes SIIQ S.p.A. (MTA: AED) announces that, on 30 September 2019, the Building Permits for the development project COM - Caselle Open Mall were withdrawn from the Municipality of Caselle Torinese.
With the withdrawal of the permits Satac SIINQ, 100% controlled by Aedes, has concluded a very long and complex administrative process, typical of the largest European retail development projects. For the purpose of issuing building permits, the Aedes Group has deposited, in the Municipality of Caselle Torinese, surety policies issued by a pool of Italian and foreign insurance institutions of primary standing for an amount of over 50 million Euro and will pay, again at same Municipality, in the immediate term, concession contributions related to urbanization charges and construction costs equal to about 4.5 million euros more than the 1.5 million euros already paid.
The development of the Caselle Open Mall, with approximately 114,000 square meters of GLA adjacent to the "Sandro Pertini" airport of Caselle Torinese, represents a project, born from the collaboration of a team that brings together the most varied and excellent national and international professionalism in the sector, consistent with the current needs of the market, consumers and visitors to this type of structure. The characteristics of excellence can be summarized in three values:
authenticity: with a detailed design combining contemporary technological elements with references to the historic streets and squares of the nearby metropolitan city of Turin; innovation: characterized by a predominantly open and flexible structure that recreates a natural environment, protected by arcades and roofs that make the visitor experience pleasant, with an offer to the consumer not only retail, but with significant quantities of areas dedicated to food, to the 'entertainment, edutainment and services as well as physical spaces and shops for online purchases and related delivery so that the physical store interacts better with the online store creating synergies;
sustainability: completely designed in BIM, the project will be developed with criteria environmentally sustainable that provide for the respect and protection of the environment according to two distinct environmental certification protocols, ITACA (Institute for innovation and procurement transparency and environmental compatibility) and BREEAM (Building Research Establishment Environmental Assessment Method).
The marketing process for most of the spaces, entrusted to an international comp any leader in the sector and coordinated by Aedes' internal leasing team, launched last spring, has already reported consistent results with agreements signed for 20% of the total surface and another 50% being negotiated.
The development of COM represents a fundamental pivot of the 2019-2024 Business Plan approved by the Aedes SIIQ Board of Directors last June 28. Completion of the development will allow the Group, together with the other planned actions, to reach a total GAV of over €
1.2 billion with recurring profitability and cash flows in line with the standards of the main REITs.
Giuseppe Roveda Chief Executive Officer of Aedes SIIQ commented: " We are very pleased to have finally arrived at the end of the administrative phase and at the same time started the preparatory activities for the implementation phase that will allow us to develop the first Open Mall in Italy with innovative features, sustainability and cutting-edgetechnology. Furthermore," continues Giuseppe Roveda, "having bet in 2013/2014 on a substantial change of the project during the administrative process (from the traditional shopping center with a large hypermarket to the life style open mall concept) to incorporate the evolution of the new market trends that derive from the changing needs and habits of consumers, was worth it and allows us today to have an innovative product ahead of the competition and to face a strategic investment for the Group that looks at a long-termtime horizon".
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CONTRACTOR
PROJECT MANAGEMENT | BIM COORDINATOR | BIM MANAGER | ARCHITECT ADVISOR |
TEAM DESIGN
UTILITIES ENGINEERING | LANDSCAPE DESIGNER GEOLOGIST | ACOUSTIC | ADMINISTRATIVE | ARCHITECT | STRUCUTURE | HYDRAULIC | ||
PROCEDURE & | DESIGNER | ENGINEERING | ENGINEERING | |||||
INFRASTRUCTURE DESIGN | ||||||||
SPECIALIST ADVISORS
MOBILITY & | VALIDATOR PROJECT CHILDREN APPROACH | |||
LEASING | INFRASTRUCURES | LEGAL | MARKETING |
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Aedes SIIQ S.p.A.
Aedes SIIQ (MTA:AED) was created and at the same time is listed on the MTA Market of the Italian Stock Exchange, following the partial proportional demerger of Restart (a company founded in 1905 and listed on the Italian Stock Exchange since 1924) on 28 December 2018. Aedes SIIQ owns a real estate rent portfolio and development for rent portfolio in line with the strategy of a REIT with commercial purpose (Retail and Office).
For further information: www.aedes-siiq.com
Investor Relations | |||
Aedes SIIQ S.p.A. | Tel. +39 02 | 6243.1 | investor.relations@aedes-siiq.com |
Silvia Di Rosa CDR Communication | Cell. +39 335 7864209 | silvia.dirosa@cdr-communication.it | |
Ufficio Stampa | |||
Lorenzo Morelli | Tel. +39 02 | 6243.1 | l.morelli@aedes-siiq.com |
Studio Noris Morano | Tel. +39 02 | 76004736-45 | norismorano@studionorismorano.com |
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Aedes SIIQ S.p.A. published this content on 01 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2019 08:52:03 UTC