Eagle Hills and Italy’s Coima to redevelop Roman barracks

Abu Dhabi developer Eagle Hills and Italian investment vehicle Coima will work together to redevelop the Guido Reni Barracks in Rome.

Situated in the cultural heart of the Flaminio district, the five-hectare area comprises 23 former industrial buildings. The redevelopment will include a mixed-use urban district with residential, purpose-built student housing, hospitality, high-street retail and community-anchored public spaces.

The total planned investment in the redevelopment will reach €400 million ($463.3 million), the companies said in a joint statement.

Coima was selected as the development partner for the project by CDP Real Asset SGR, the asset management arm in real estate and infrastructure of CDP Group, controlled by the Italian economy and finance ministry.

The investment will be made by Coima ESG City Impact Fund, which is Italy’s largest national urban regeneration fund, the statement said.  

No timeline was provided for the start and completion of the project. 

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The Rome project follows Eagle Hills’ ongoing €200 million restoration of Venice’s Hotel Des Bains in partnership with Coima.  

In May 2024 Eagle Hills announced a €3 billion investment in the Latvian capital Riga to develop a waterfront project, with plans to build 8,000 luxury homes for 30,000 residents.

The company, founded by Emirati businessman Mohamed Alabbar, owns and operates more than 35 luxury hotels and leads some of the largest mixed-use developments across 14 countries.