Yeldo is investing 14 million in a residential development in Porta Romana, Milan

In the Milan property market today, the focus is more on changes of use and on completing projects already underway than on launching new developments. This trend reflects the difficulties the sector has faced in recent years - following the urban planning chaos - and which is steering institutional investors’ strategies towards completion and regeneration projects, now regarded as among the few capable of bringing new residential supply to the market within a relatively short timeframe.

It is against this backdrop that Yeldo – a European group specialising in the structuring of institutional-level property financing transactions – has announced a new investment of 14 million euros. In this instance, the company is co-investing in the completion of a high-end residential project on Via Comelico, in the Porta Romana district of Milan, as part of a transaction managed by Savills Sgr on behalf of the closed-end property fund C7 Investment Fund.

The project involves the completion of a residential complex comprising 66 homes and 69 parking spaces, covering a total area of over 9,000 square metres. The project is situated in one of the city’s most dynamic areas, a short distance from the historic centre and the Olympic Village, in a context characterised by sustained demand for housing and an increasingly limited supply of new properties. Over 90 per cent of the units are already on the market, whilst around 15 per cent have already been sold, and the works are expected to be completed by the summer break.

“This new transaction confirms our selective approach to the market, which sees us partnering with leading institutional players on projects with solid foundations and good prospects for growth,” explains Antonio Borgonovo, CEO and founder of Yeldo Group. According to Borgonovo, the group’s strategy remains to identify opportunities characterised by robust fundamentals and institutional structures, even in complex contexts, where it is possible to create value through active oversight of the various stages of the project. “Milan continues to be a key market, with favourable residential trends and structurally high demand,” he concludes.

According to Lorenzo Belloni, Chief Investment Officer of the Yeldo Group, “with the Via Comelico project, Yeldo has contributed to the completion of a high-quality residential development in a market that continues to see strong demand for housing against a backdrop of limited new supply – a trend that has been accentuated in recent years by the difficulties faced by numerous development projects in Milan’.”