Fia2: 100 million euros for a better city life

Fia2: 100 million euros for a better city life

CDP Group has launched Fondo Investimenti Per L’Abitare (Fund for Living) dedicated to creating smart cities and the urban transformation through sharing services, workshops for arts and crafts, multifunctional sports centers, and co-working for innovation

Rome, November 24, 2016

With a 100 million euro investment, CDP Group, in the role of anchor investor, launched its new Investment Facility for Living (Fia2),  which aims to  transform 14 major Italian cities into smart cities. With the investment, CDP Group strengthens its commitment to the development of social housing and urban regeneration.

Fia2 will be managed by CDP real estate subsidiary CDP Investimenti Sgr. The capitalization will include other international institutional investors, with the aim of raising 1 billion euros.

Funds will be put to work for the redevelopment and conversion of real estate currently in disuse, giving cities a new life through urban transformation projects. Homes for rent with sharing services, for learning workshops for arts and crafts, multifunctional sports centers at affordable costs, poly smart co-working for innovation are just some of the new-use destinations of recovered buildings.

In addition to redevelopment, the fund will implement a new leased-housing supply, proposing quality solutions, together with integrated services that can meet the mobility needs and lifestyles of communities.

This new project has the advantage of rich experience in social housing program, for which CDP has allocated 3 billion euros aimed at creating 20,000 rent-regulated apartments and 8,500 beds in temporary residences.

In line with the objectives set by the Business Plan 2020, Fia2 will contribute to the regeneration and development of strategic areas of the country, with a view to growth and improvement of the urban living.