⏱ 1 min read
Background
The Loreto group was founded by Italian developer Pietro Santisi. It develops residential projects in French-speaking Switzerland.
The key points
Pietro Santisi has completed several acquisitions in Sion, Martigny and Les Paccots to develop 222 apartments, according to Bilan. Construction of the Valais projects is due to start this summer.
Through Beja immobilier SA, he acquired a plot in Sion, on avenue de France, and another in Martigny. Through Loreto1 Holding SA, the group took over the share capital of CIMET SA to expand in Les Paccots (FR).
Key figures
- 222 apartments in total.
- 40 apartments and two commercial units in Sion.
- 138 apartments and one commercial unit in Martigny.
- 44 apartments in Les Paccots, as primary and secondary residences.
What it means for businesses
The developer is betting on the appeal of Valais, seen as more affordable than the canton of Vaud. In Les Paccots, he sees an alternative to highly sought-after Vevey and Montreux.
Who says what
Pietro Santisi notes that the vacancy rate has fallen sharply in Martigny. He also sees it as "a response to soaring prices" in the cantons of Vaud and Geneva.
What's next
Work in Sion and Martigny is due to begin this summer.
Further reading
Sources
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