ITALY. Malpensa Real Estate has taken a shareholding in Villa Carmen, the real estate company developing a new business park near Milan Malpensa Airport.
The business park is the second real estate project involving Malpensa Real Estate, a joint venture between Schiphol Real Estate and Grontmij Real Estate International.
The new office park is to be developed into an office park for airport-related companies and international companies in line with the AirportCity concept developed by Schiphol Group. The office park is situated opposite terminal one at Malpensa Airport It is the first high-end office park to be developed in such close proximity to the airport.
The business park is to be developed in stages. It will cover 27 hectares and consists of around eight office buildings (50,000sq m). There are also plans to develop a World Trade Centre. Construction on the first stage, an 8,000sq m office building, is anticipated to begin in early 2006. The entire business park development is expected to take between five and eight years.
The Schiphol Real Estate and Grontmij Real Estate International joint venture has been active at Malpensa Airport since the companies began constructing Avioport Logistics Park in 2003 – its first real estate project at the airport. Avioport is an industrial estate for logistics companies covering 64,000sq m, consisting of four industrial buildings and three office buildings. Around 70% of the first stage of the industrial estate has been leased or reserved by companies including Fedex, Exel, LGI and Cargoitalia.
About Malpensa Real Estate
Malpensa Real Estate was established to develop real estate projects in the vicinity of Milan Malpensa International Airport.
Milan Malpensa Airport has developed into the most important international airport in northern Italy over the past five years. The region is Italy’s main economic centre. Malpensa Airport served 18.5 million passengers in 2004 (a +5.3% increase compared with 2003). The airport has seen continued growth during the first six months of 2005.
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