The founder of Eataly Oscar Farinetti
Cool, from the million hole to the residential real estate game. As they had announced. Farinetti promises a new season of novelties and relaunch
Knock tòc, leaks from the shareholders of FICO, the creature wanted by Oscar Farinetti, that residential buildings will be built around the large park in Bologna. Finally: a few nice buildings to compensate for the aridity of an annoying and already well-balanced green. What sense would it have otherwise had to build, with a pharaonic intervention and partly with committed public goods, a copy of a copy of a supermarket, among so many others?
In addition, it is also hyper-expensive, given the high quality and organic products it sells, and in an area where there is an incinerator that produces cadmium, as the oncologists of Medicina Democratica write, in quantities “from 3 to 10 times higher” than norm and burning “contagious sanitary” material.
An area in which, until the advent of FICO, residential construction was not contemplated.
The further novelty is the management of the world Disneyland passes 100% to the Farinetti family. In addition, Coop Alleanza will increase the shares in the Pai real estate fund (the real safe that decides on the fate of the land and possible buildings), leaving the direct management of FICO.
It was no secret that this could be the direction. We wrote it alone already in 2016, in the book Coop Connectionand in 2018 here and countless other times. The beauty of the advertising campaigns of Oscar’s creature (which have invaded the press and TV) will have distracted more witty analysts.
However, it transpires that a new investment is on the way: 15 million euros.
In part they will also come from the Farinetti family. However, the creature seems to be in decline but the company promises profits, in the years to come, in 2026, provided that there is a freeze on payments for the next three years and a repayment only of accrued interest. Shareholders are waiting to see the numbers.
From the cheering masses to the desert, the step was short. The most relevant novelty of the new course, in addition to residential real estate, it’s goodbye to paid tickets. A throwback.
The millions of tourists never arrived but the millions of losses did come, Farinetti says due to Covid. Too bad the desert had also emerged in 2018, just look at a video of the period.
But now we have moved on to the “buttadentro”. It was announced, as anticipated exclusively months ago by Affaritaliani, the temporary stadium of Bologna Calcio close to the structure and in addition the red line tram stop. We have no doubt that the Municipality and all the local institutions are ready to sing the praises of the new phase as in the past for years they sang the deeds with the explosion of thousands and thousands of jobs never seen before.
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