Italian luxury group Prada (1913) said it plans to acquire a property in Milan for €66.5 million (HK$600 million) from Ludo Due S.r.l., a controlled firm of its executive director Miuccia Prada Bianchi, expecting to develop a new corporate headquarters.
The property is a plot of land of approximately 14,800 square meters, consisting of two contiguous sections. The company has been leasing a section since 2013, using it as its operational headquarters in Milan.
The other part currently undeveloped and therefore open to future urban and real estate development.
Prada intends to develop the property into its new corporate headquarters, which will allow the group to consolidate some of its existing Milan offices and showrooms into one location, thereby improving operational efficiency and further consolidating its position in this strategic area.
The company emphasized that acquiring this property represents a significant opportunity to secure prime real estate assets in an area undergoing important urban development and value growth.
