GVA Redilco | SIGEST. H1 results and real estate market outlook for 2021

GVA Redilco | SIGEST. H1 results and real estate market outlook for 2021

Milan saw record Office take-up of 127,000 sqm in Q2 2021 (up 100% compared to the same period in 2020 and higher even than take-up in Q2 2019, one of the best quarters ever), leading to a total of approx. 210,000 sqm since the beginning of the year.
Several significant transactions have been closed over the period, mainly in the CBD and Centre submarkets (39% of overall total take-up).

The performance of the Rome Office leasing market was also very positive, recording a take-up of 48,000 sqm in the second quarter (+200% compared to Q2 2020) bringing the H1 2021 total to approx. 72,300 sqm. In terms of the locations preferred by occupiers, take-up in the capital city concentrated on the Centre submarket in H1 2021, followed by the EUR area.

The record results achieved in terms of Office sector take-up, with a transacted area of over 130,000 sqm in Milan and Rome, has reconfirmed GVA Redilco’s leadership in the sector and a positive trend for the second half of the year is also expected, accompanied by a sustained increase in demand for office spaces. This is mainly oriented towards Grade A/A+ product in prestigious and attractive locations, with the highest quality standards and international energy efficiency certifications, suitable for hosting new innovative formats characterizing the internal design and the management of the spaces.

The Logistics real estate market continues to grow, with exceptional take-up of approx. 1,300,000 sqm, representing a 56% increase compared to the first half of 2020. The outlook to year end is particularly positive with total take-up expected to be higher than, or at least equal to, the levels recorded in 2020 (approx. 2.3 million sqm), the best year ever for the sector.

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