The Open Media Park is a 150M€ and 47.000 square meters real-estate development project, in Rome by 2022, that brings together the leading European innovation campus on digital entertainment, cybersecurity and artificial intelligence and a 5-star boutique hospitality, congress and wellness, to embrace a stunning park made of centennial oaks, trails and smooth rolling hills and ancient Etruscan archaeological treasures, on a uniquely-located 12-hectares lot.
Surrounded by the National Park of Veio, with its lakes, trails, and picturesque towns, it is only 3 minutes away from world-renowned Olgiata horse riding and golf facilities, 8 minutes away from Rome ring road, and 25 minutes from Rome’s main international airport.
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Prospective Tenant – Media/IT: Over the last 2 years, many public, private and research partners of the Trustless Computing Consortium have shown continued interested in the creation of a wide ecosystem of unprecedented IT and AI security capabilities, as proposed by our Trustless Computing Campus on cybersecurity and artificial intelligence. Between 2010 and 2012 we signed detailed MoUs with 9 tenants from the media/IT industry accruing about 8000 sq. mts., as well as 4 national and international media-sector investors in the media production facilities, the Open Media Labs.
Prospective Tenants MoUs – Other: We have received interest from 4 and 5 hotel chains, hotel management chains, investment fund from Dubai and Milan, large commercial retail companies, water park facilities and resorts, as well as several investment funds, and local construction companies.
Naturalistic, Urban & Cultural Context: The lot is characterized by a unique stunning landscaping and natural context, with large centennial oak trees, and smooth natural rolling hills (pictures of the lot). The lot is surrounded for miles around by the exceptional naturalistic and landscaping context of the Veio Regional Park (see photos), which determines the lowest traffic of all Rome major road arteries. Formello is a municipality with 13.000 citizens, in which has grown 70% in population in the last 10 years. It is the richest municipality of Italy Center and South of Italy by revenue per capita. Only 1Km away from Olgiata, Rome largest and most exclusive gated community, with over 12.000 inhabitants, which includes the most famous golf course of Italy, Olgiata Golf Course, which was twice chosen as the location of the yearly Golf World Cup (1968 and 1984). Adjacent to the lot there is a large technology and office park, Zona Olmetti with 400.000 sq. mts. of space and 2000 staff.
Mixed Use: The current approved mix entails:
- 21,000 sq. mts. of IT/media office, studios and laboratories
- 16,400 sq. mts. of hotel, wellness and congress space
- 8,000 sq. mts. of retail and entertainment
The current mix can be extensively modified via a deliberation of the Municipality council in 60 days, following an agreement, as long as public-interest nature is maintained.
Unique archaeological attractions: In 2014, highly detailed archaeological and landscaping approvals have already been performed by public authorities, and have determined compatibility with current plans. The presence of 20.000 sq. mts. of an archaeological treasure on the site has been recognized – for the presence of 3000-years-old open-air Etruscan aqueducts, under centennial oak trees – which constitute a unique potential cultural attraction for hotel or entertainment uses.
Localization: Municipality of Formello, Province of Rome. Within 8 minute of driving distance from Rome Ring Road, or GRA (map). Exactly at the South-East corner of the high-speed national road SS2 Cassia Veientana and Via Formellese. (Zoning IDs: Foglio 20 – particelle 1774, 1775 e 1086).
Timing & Budget for Zoning Approval: The lot is the object of an accelerated real-estate zoning-change procedure, reserved for public benefit projects. The project, called ‘Open Media Park, has been approved by the Municipality of Formello on July 2012. On October 2015, the President of the Region of Lazio has issued a press release and signed an MoU among 4 Regional Ministries, the Metropolitan City of Rome and the Municipality of Formello, which prescribes: strong public interest, maximum zoning approval times of 12 months, and a commitment to attract EU development funds of the program 2014-2020. (Press Release & copy of MoU, in Italian). The approval process is about 80% along the way, so that 150-200K€ and about 15-18 month should most likely allow start of construction.
Owners-Developers: Tecnoconsult International Srl, owners of the Park project and land, is an ad hoc development company of the Guerreschi family, active for over 30 years in real estate development around Formello and Olgiata, with over 100,000 sq. mts. of built office, commercial and residential spaces. The project has been lead since 2008-2014 by Rufo Guerreschi.
Investment Opportunities: In 2011, Tecnoconsult International Srl, the ad-hoc company owning the lot – and solely devoted since inception to its development – was valued 21 million euros in current market value, by one of the top 3 most reputable valuators in Italy, Scenari Immobiliari, following a detailed Business Plan and 20-years Financial Plan, e competitive analysis. Such valuation, preceded the zoning change approval by the municipality, and the archaeological and landscaping approvals. The company is open a variety of majority or minority investment options. For example, a value-added strategic investor could invest at least 300k€ in cash – at 1/3 or 1/4 the valuation mentioned above – to acquire shares as well as an option and obligation to purchase enough shares to get to 51%, at a set price, when the approval process is successfully completed.
Mr. Rufo Guerreschi,
Major Shareholder, and former CEO between 2008-2015
firstname.lastname@example.org – linkedin.com/in/rufoguerreschi