Hotel des Bainins, Coima with Abu Dhabi relaunches the myth of the Lido of Venice

The redevelopment and relaunch project of the historic des Bains of the Lido of Venice comes to life, which met the glories of the Belle Epoque and which hosted, among others, the German writer Thomas Mann, later becoming the set in which the film « Death in Venice » by Luchino Visconti was shot. After a long period of abandonment and the definitive closure that dates back to 2010, a consortium guided by the Coima Esg City Impact Fund, which belongs to the Coima real estate development company, of which the entrepreneur Manfredi Catella is founder and CEO, and by Eagle Hills, a company based in Abu Dhabi led by Mohamed Alabbar, acquired the previous debt of the structure and prepares an ambitious project of a project of a project of redevelopment.

The Coima des Bains Fund

« The vehicle through which the recovery of the Hotel des Bains will be made will be the Coima des Bains Fund, participated equally by Coima Esg City Impact Fund, in which, among others, Forensic Cassa, ENPAM, Banca Intesa, and by Eagle Hills, with a minority share of the entrepreneur Federico Marchetti through his investment company Mavis, » comments. The acquisition of 100% of the historical debt of the company to which the hotel was headed, equal to 54 million euros, which will be converted into shareholdings, will allow the activation of a total investment of about 200 million, with a timing of completion of the works envisaged of about 3 years.

Redevelopment

The hotel will be the subject of a careful and respectful redevelopment, to be returned to use as a high -end resort. The project also provides for the improvement of the park and the public spaces surrounding the building, in addition to the relaunch, already started by the beach in front. The promoters will share the program with the Venetian public institutions to establish the foundations necessary for the recovery of property. « I want to underline the strategic importance of the agreement with Eagle Hills, which has and manages more than 35 luxury hotels and is among the main real estate development companies in the world, activates in over 12 countries and a strategic presence along the Adriatic coast », underlines Catella. The investment of the Emiratine group constitutes « an important step in the consolidation of the partnership between Italy and the United Arab Emirates, in particular in the hotel and tourist sector. The operation is in the wake of cooperation between Italy and the Emirates with collaboration relationships that are intensifying in recent years « .