Landmark Deal Becomes Italy's Largest Office Transaction Since 2022
LONDON, Dec. 4, 2024 /PRNewswire/ -- The Valesco Group, a portfolio company of New World Group, has acquired a majority stake in the €200 million development of Moncler's global headquarters in Milan's Symbiosis district. Developed by Covivio SA and slated for completion in 2025, the 38,000-square-meter, six-story building represents a pinnacle in sustainable office design.
This transaction is Italy's largest office deal in over two years, symbolising innovation, luxury, sustainability, and cutting-edge design. This transaction reinforces the group's dedication to shaping the future of global business hubs and underpins New World Group's broader ambition to identify and acquire strategic assets in Europe and Asia.
Adam Sadiq, CEO of New World Group and board member of Valesco, commented:
"Moncler is an iconic global brand, and this partnership reflects our aspiration to invest in strategic, high-quality assets in key international markets. This development is more than an asset-it embodies innovation, luxury, sustainability, and design. We are all proud to welcome it to our portfolio as part of our broader mission to invest in transformative opportunities in Europe and Asia."
Moncler's future headquarters, designed by Antonio Citterio and Patricia Viel, aims for targets LEED Platinum certification with advanced sustainability features like photovoltaic panels, rainwater harvesting systems, and bioclimatic air circulation. With a 15-year inflation-linked lease secured by Moncler-a luxury powerhouse with a market capitalisation of €13 billion-the building includes premium amenities, including a gym, dining areas, and event spaces, further strengthening Milan's reputation as a global fashion hub.
Located in Milan's Symbiosis district, home to prestigious brands like Prada and LVMH, the new headquarters is poised to greatly contribute to the city's fashion ecosystem. The district continues to attract global attention with projects like Scalo Porta Romana and the upcoming 2026 Winter Olympics, enhancing its appeal as a premier business and lifestyle destination.
Shiraz Jiwa, Founder and CEO of The Valesco Group, said:
"The recovery in demand from dynamic, blue-chip corporates for the highest quality office space for their talent is well and truly advanced and is underpinning the bifurcation thesis. We are pleased to be partnering with Covivio, which is renowned for the quality of its developments and understanding of occupier needs and is delivering an exceptional scheme."
About New World Group:
New World Group is a diversified investment firm actively pursuing strategic, high-quality opportunities in Europe and Asia. With offices in London, Dubai, and Kuala Lumpur, the group specialises in global high-growth sectors, guided by a commitment to innovation, sustainability, and excellence.
About The Valesco Group:
The Valesco Group is a leading real estate investment management firm focused on ESG-driven assets in Europe's prime markets. Known for its expertise in delivering innovative and transformative investments, Valesco partners with world-class tenants to redefine modern office standards.
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