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Energy efficiency key future value criterion, Generali's Paviera
Energy efficiency in commercial buildings, particularly office, will be a key value criterion for investment and development in the next years, and is more important than Italian builders and investors understand, says Giovanni Maria Paviera, CEO of real estate funds for Italy's giant Generali insurance group. This element, alongside a building's commercial aspects, will be a major guide to assessing assets for the group's three existing funds, and the one or two new unlisted vehicles he expects to launch this year. "We are looking for office especially in the more liquid markets which, in Italy, means Milan and Rome - and in the zones where there are new buildings with a good level of energy savings," he told PIE in an interview.