COIMA and Eagle Hills Launch $216M Restoration Partnership in Rome

Italy’s COIMA SGR has partnered with UAE-based real estate developer Eagle Hills to launch a major restoration and asset management initiative valued at approximately $216 million (EUR 200 million). The partnership will focus on repositioning a portfolio of historic buildings in the heart of Rome.

$216 Million Trophy Asset Strategy

The investment is centered around COIMA’s Sapphire Fund, which includes three prestigious heritage buildings: Palazzo Verospi, Galleria Sciarra, and Palazzo Monte, the latter housing Italy’s Council of State. Located in Rome’s historic city center, the combined area of the properties spans around 485,000 square feet (45,000 square meters).

Previously held by investors such as Zurich and Morgan Stanley, the assets are now under Coima’s full management, with Eagle Hills joining as a strategic partner to lead the restoration and value enhancement process.

Restoration with a Focus on Sustainability

The joint plan includes extensive restoration and redevelopment work, aimed at blending historic preservation with modern environmental standards. Key objectives include:

• Sustainable retrofitting, including improved HVAC systems and eco-materials
• Targeting green certifications such as BREEAM, LEED, and WELL
• Preserving architectural heritage while improving energy performance

COIMA plans to classify the Sapphire Fund under Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR), in line with its broader ESG investment strategy.

Strategic Growth for Coima and Eagle Hills

For COIMA, this marks a key expansion in Rome following a strong development record in Milan, including Porta Nuova and major urban regeneration zones. For Eagle Hills, led by prominent UAE businessman Mohamed Alabbar, the partnership signifies its first major entry into the European market.

Eagle Hills brings financial capacity and experience from projects across the UAE, including Dubai Creek Harbour and Ras Al Khaimah’s Al Marjan Island. The collaboration enables both firms to pursue adaptive reuse strategies for landmark assets, with an emphasis on long-term, sustainable returns.

Rome’s Role in Global Real Estate Trends

Rome is increasingly attracting international capital for historic urban redevelopment, with global investors targeting cultural assets that can be repositioned into modern commercial or mixed-use real estate. The Sapphire portfolio stands out not only for its location but for its potential to serve as a model of heritage-led urban transformation.

Restoration work is expected to begin later in 2025. The initiative combines COIMA’s expertise in Italian real estate with Eagle Hills’ financial and development backing to deliver high-performance, sustainability-certified assets that respect Rome’s cultural legacy.