European real estate fund manager The Valesco Group, a portfolio company of New World Group, has acquired a majority stake in a 200-million-euro state-of-the-art office building being developed by Covivio SA, which will serve as the global headquarters for luxury fashion brand Moncler in Milan.

Located in Milan's Symbiosis district, the 409,000 square-foot, six-story building, designed by renowned architects Antonio Citterio & Patricia Viel (ACPV), aims to offer the very best in sustainable office design.

The building, is targeting LEED Platinum certification and boasts advanced sustainability features, such as photovoltaic panels, rainwater collection systems, and a repurposed industrial chimney for bioclimatic air circulation. Its construction prioritises energy efficiency, natural materials, and indoor air quality, reflecting the ESG best practices that top-tier occupiers demand.

The building, which is near other blue-chip fashion brands, including LVMH, Prada and Golden Goose, is slated for completion in 2025. The area’s appeal is further boosted by the ongoing Scalo Porta Romana redevelopment and preparations for the 2026 Winter Olympics with the nearby Olympic Village.

Shiraz Jiwa, founder and chief executive of The Valesco Group, said: “The recovery in demand from dynamic, blue-chip corporates for the highest quality office space for their talent is well and truly advanced and is underpinning the bifurcation thesis. We are pleased to be partnering with Covivio, which is renowned for the quality of its developments and understanding of occupier needs and is delivering an exceptional scheme.

“In Moncler, we identified an occupier who shares our philosophy that the office is a critical business tool for talent enrichment. This investment is a testament to Valesco’s laser focus in identifying and securing high-quality, mission-critical assets in Europe’s most dynamic markets. Moncler’s global headquarters is a pinnacle of world-class design, sustainability and occupier quality, further solidifying Milan’s position as a leading global city.”