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Retail investments improve in Q4, up 70% on the previous quarter, although some of the deals underway were postponed to 2016.
The annual volume of new, completed stock stood at approximately 127,000 sq m of GLA, a 10% decrease on 2014.
The signs of improvement which emerged in the last quarter for development activity are confirmed after the summer and the future pipeline under construction should grow. Interest in the south of Italy make a shy return.
€ 3.1 billion were invested in Q4 2015, double that of the previous quarter.
Quarterly volume stands at 50% more than the quarterly average for the past four years.
The domestic component of capital invested improves during the quarter totalling nearly € 900 m, up from € 230 m in the previous quarter. With foreign capital at nearly € 2 billion, this remains the main source for investment in real estate in Italy.
In Q4 2015 take-up reaches almost 200,000 sqm, a strong increase (+372%) compared to the third quarter and 167% on same period of 2014.
2015 closes with over 370,000 sqm leased, a record result driven by two pre-lettings at the CityLife towers and the letting of the last tower available in the Porta Nuova development, accounting for 30% of total annual take-up.
Ongoing improvement in investment activity, with over € 1 billion invested in the Milan’s office sector during the quarter.