CriticsThis second phase which should total cost between 1Occasionally he expresses this again but wrongObjective learn the basic rules of writingOnly a small 20 candidates are manifestedAnd allows Berlin in 2007 still show a surplusThis text will have to be transposed by Member States in no later than March 21 2009Australia and Rio Tinto Plc United KingdomThey may still fall in the next three monthsMoreover patterns of funding have malfunctionedThe first was successful the second failedThe volume of the surfaces of offices rented to Milan, the main market of the country, increased by 13 in 2006, but this increase is due to only two transactions over of 25,000 m2 each, says consultant Jones Lang LaSalle. About 60 operations concern first class rooms, which demonstrates the tendency of companies to seek better quality locations. A few new projects on the edge of the centre have drained the request, so that it is in this area that the activity has been the strongest, with 80.
The number of m2 rented reached 305.000, from 270,000 in 2005. It remains far from the records of 2000 and 2001, when leased areas had exceeded 550,000 m2 then 400,000 m2. While other markets are able to locate the volumes of these prosperous years, Milan remains behind. The main reason for this lack of dynamism, according to Pierre Marin, CEO of Jones Lang LaSalle in Italy, lies in the absence of an adequate supply of high-quality premises.
Level A is in effect that 9 of the total existing 11.4 million m2, against 20 in Berlin, 30 in Paris and 46 in London. The rest of the market consists of almost equally between B (48) and level C (43), little convenient space, lacking modern and poorly connected to transportation connections. There the rest a high percentage in the market for several years without finding licensee.
Result, the rental price for the best sites undergo a upward pressure, reaching now 500 EUR per m2 per year on average. In view of this shortage, the vacant premises decreased slightly, representing more than 885.000 m2, against instead end of 2005, with almost half on the periphery.
Local new or restructured surfaces placed on the market represented 140,000 m2 last year, or 45 more than in 2005. Despite this increase, the volume remains insufficient. The trend will not improve, since only 57,000 m2 should be completed in 2007, of which 22,000 are already selected. What to fear a decrease in the activity. However, the situation should improve in 2008 and 2009, years where the number of m2 placed on the market should rise respectively to 185,000 and has. However, this is less than the average annual demand.
New projects on view at Rome
All these factors explain the optimism of Pierre Marin: "There is growth in Italy margins even if it is slow to come", he says. Investors seem to also believe: acquisitions increased by 49 in 2006, from nearly 5 billion euros in 2005 to almost 7.5 last year. There is in any case several projects that could give Milan offices equipment she needed, but the implementation was expected and will need to wait until 2010 at least for the first deliveries.
This is the case of the City Life project on the site of the former fair of Milan, which will include both offices and homes in three towers built by big names of architecture as Libeskind, Zara Hadid, Arata Isozaki and Pier Paolo Maggiora. Santa Giulia, in the Southeast, the Foster tower by Luigi Zunnino promoter could arrive on the same date. Finally, closer to the centre, near the Piazza della Repubblica, should finally get out of Earth the Citta della Moda, the Arlésienne which waits for several decades.
In Rome, the Government and its authorities weigh their weight and 11,97 million m2 Park is largely occupied by the public sector. Here again, the modern buildings lack: level A rentals represent only 5 of the offer. Rentals have however increased by 13 in 2006 to 170,000 m2, said Jones Lang LaSalle. The rate of vacant premises very slightly increased from 4.4 of the stock, against 4 in 2005, and the prices of local quality reached 415 EUR per m2 per year, versus 400 in 2005: shortage puts upward pressure.
Several projects, including the developed around Zona E.U.R., the former site of Congress built at the time mussolinienne on the road from the airport of Fiumicino, designed by Massimiliano Fuksas and entitled "Cloud", should however be a little oxygen to the eternal city: 420 m2 of premises will arrive on the market in 2007 and 2008, including childcare are still free. Longer term, 600,000 m2 should still be built, but is not available before 2010.
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