Italian-style city plan for UAE unveiled

Renaissance-City

A $30bn Italian smart city is the latest development project proposed for the UAE.

Unveiled at a press conference in Abu Dhabi, the developers behind the project claim they are more than hopeful it will come to fruition as a significant amount of equity is already in place to finance the plans.

According to the promoters of the Sirei project, Renaissance City will be a masterplan for smart city project for 30,000 residents and will blend the cultures of the UAE and Italy together, making it different from any city project in the UAE.

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Included in the design of the project is 300,000m2 of retail space, 160,000m2, a total of 13,000 residential units and 260,000m2 of office space.

Sirei, which is a group of Italian real estate companies led by company founders Massimo and Gianluca Mazzi and architect Paolo Caputo, presented the masterplan with a hope to develop the project somewhere in the UAE.

Sirei is believed to be in discussions with the US investor Pramerica over funding.

Massimo Mazzi, president of the company, said: “We like to export the Italian way of life. All the city will be focused on Italian excellences – we are speaking about art, culture, food, fashion – everything inside the city.”

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