COIMA Simplifies Pirellino Project Amid Regulatory Challenges

COIMA SGR, a prominent investment and real estate development company, has adjusted its project plan for the P39, also known as the Pirellino in Milan, to prevent further delays due to legal and regulatory challenges. After facing changes in zoning laws that imposed social housing requirements, COIMA simplified its development scheme to retain the building's original office function. This decision follows a ruling by Italy's Council of State, affirming COIMA's right to rely on regulations in place during the property's auction. Meanwhile, COIMA is launching a new three-year investment program exceeding €3 billion, focusing on residential, tourism, and neighborhood regeneration projects with a strong emphasis on sustainability. As part of Milan’s Porta Nuova district, the revamped Pirellino project seeks to achieve top-tier LEED and WELL certifications, aligning with COIMA’s commitment to carbon neutrality and energy performance. This strategy aligns with COIMA's broader goals within its investment portfolio, targeting strategic sectors and urban regeneration initiatives across Italy.