The evolution in planning and designing new corporate headquarters in Milan: Perspectives for urban resilience

Abstract

Metropolitan cities can play a primary role in the creation of more resilient urban environments, by developing public interventions that improve social cohesion, and economic and environmental sustainability. The metropolitan city of Milan has emerged among the first European cities that successfully overcame the economic crisis without losing their leadership role. Thus, we analyzed the Milanese experience as an example of urban resilience, in the context of a Research Project of Relevant National Interest (PRIN) entitled “Metropolitan Cities: Economic-territorial strategies, financial constraints, and circular regeneration”. In a first stage, we studied the investments of the major real estate players who have directed their attention to Milan. Our scrutiny showed that most of the investments concentrate in recent urban renewal programs, which entail the re-location of corporate headquarters. A conspicuous portion of commercial real estate hosts fashion companies, as Milan attracts many brands from all over the world. In a second stage, we investigated in more detail the property settlement dynamics that drive corporate real estate development and re-location in the territory of Milan. This showed some urban clusters that the service and fashion sectors are respectively interested in. Finally, we looked into the re-location strategies of eight leader companies, half of which in the fashion sector and half in the general services. Through interviews with their real estate managers, we scrutinized their choice of location in Milan, their environmental sustainability requirements, and added value that they expect to obtain. The fashion sector resulted as particularly keen on rehabilitating divested sites or abandoned buildings, inherited from previous industrial/productive activities. Our scrutiny demonstrated that regeneration projects, can successfully meet the objectives of companies, while matching the goals of public interventions to improve social cohesion, and economic and environmental sustainability. This evidence can inform investors, organizations, and designers, and support them in the implementation of strategies to improve urban resilience.

How do metropolitan cities evolve after the 2008/2012 crisis and the Covid-19 pandemic? An analysis from real estate market values

“…It is not part of the research objectives to investigate the reasons behind the trend toward concentration that the data clearly indicate. However, recent research has highlighted how Milan's attractiveness is the result of a precise strategy on the part of international real estate finance, which has selected the Lombard capital as a privileged sphere for its investments (Baiardi et al, 2019), exploiting the important endowments of the available territorial capital (Camagni, 2009), the outcome, at least in part, of important collective investments (Iraldi et al, 2014).…”

“…Non rientra tra gli obiettivi di ricerca indagare le ragioni a fondamento della tendenza alla concentrazione che i dati indicano in modo chiaro. Tuttavia, recenti ricerche hanno messo in evidenza come l'attrattività di Milano sia esito di una precisa strategia da parte della finanza immobiliare internazionale che ha selezionato il capoluogo lombardo come ambito privilegiato per i propri investimenti (Baiardi et al, 2019) sfruttando le importanti dotazioni del capitale territoriale disponibile (Camagni, 2009), esito, almeno in parte, di importanti investimenti collettivi (Iraldi et al, 2014). Sul versante opposto, le città metropolitane del meridione scontano processi demografici ed economici di segno inverso con performance peggiori della media che il mercato immobiliare registra nella flessione dei valori immobiliari.…”