Italy's state-owned investment fund backs student housing projects following the Olympic Games
In the realm of European real estate, COIMA SGR is making waves with its ambitious plans. The Italian investment firm has increased the target size of its fund from €1bn to €2bn and is actively fundraising. This expanded fund will be used to address a major shortage of student accommodation in Milan, with the Athletes Village set to be transformed into a 1,700 bed student accommodation. The COIMA ESG City Impact Fund, managed by COIMA SGR, is Italy's largest urban regeneration fund, having raised more than €900m.
Meanwhile, across the continent, efforts are underway to rebuild Ukraine's damaged built environment in a sustainable and inclusive manner. The Buildings Performance Institute Europe (BPIE) has published six investment criteria in a report for this purpose. While the specific criteria from BPIE's Building Back Better report on Ukraine are not explicitly detailed in the provided search results, it is typical for such reports to prioritize energy efficiency, use climate-resilient and resource-efficient materials, ensure social inclusiveness, promote local employment, and integrate long-term operational savings into project planning.
Elsewhere, Banco VisionFund Ecuador (BVF) is fostering a culture of data-driven decision-making. Through a technical assistance project funded by Cofides, the Spanish government's development financing entity, BVF employees are being trained to analyze and visualize data effectively. The project aims to implement policies, processes, procedures, and organizational and technological infrastructure to ensure the quality, integrity, security, and privacy of data, as well as promote its availability and accessibility for informed decision-making.
The agreement between Cofides and BVF is part of the Triple Inclusive Finance (TIF) Programme, a blended finance project led by Cofides in collaboration with the European Union and the Spanish Agency for International Development Cooperation (AECID), through the Fund for the Promotion of Development (FONPRODE). The project focuses on implementing a data governance strategy, using advanced tools for data analysis, to better adapt services to Ecuadorian micro-entrepreneurs.
In a significant move, CDP Real Asset, the real estate and infrastructure fund of Italy's sovereign wealth fund, invested €50m in COIMA's ESG City Impact Fund. This investment was made through the CDP Real Asset-managed National Fund for Sustainable Housing (FNAS), which promotes real estate projects with a focus on sustainability and social impact.
These developments underscore a growing trend towards sustainable and data-driven investment strategies in Europe and beyond. As these initiatives continue to unfold, it remains to be seen how they will contribute to the long-term economic and social wellbeing of the regions they serve.
- COIMA SGR's expansion of its fund to €2bn and focus on student housing in Milan demonstrates the energy transition from traditional investment towards education-and-self-development, boosting social impact and urban regeneration in Italy.
- In Ukraine, rebuilding the damaged built environment sustainably includes prioritizing energy efficiency, climate resilience, social inclusiveness, local employment, and long-term operational savings, following the BPIE's Building Back Better report guidelines.
- The investment by CDP Real Asset, Italy's sovereign wealth fund, in the COIMA ESG City Impact Fund through the National Fund for Sustainable Housing emphasizes the growing trend of development finance, blended finance, and social impact investment in Europe.
