Latest news with #Coima
Yahoo
6 days ago
- Business
- Yahoo
Milan mayor placed under investigation in property planning probe
By Emilio Parodi MILAN (Reuters) -The mayor of Milan has been placed under investigation, three sources said on Thursday, caught up in a probe into the dealings that have helped to underpin a real estate boom in Italy's financial capital over the last 10 years. The investigation into Mayor Beppe Sala comes after prosecutors on Wednesday sought the arrest of Milan's councillor for urban planning, the head of real estate firm Coima and four others. According to three sources with knowledge of the matter, Mayor Sala, who heads a centre-left coalition in the city, is among dozens of people under investigation. He is accused of concealing a conflict of interest relating to the appointment of a chairman of a municipal commission that grants building permits. He is also allegedly among those who put pressure on that same chairman to unblock the authorisation of a building project in the city. His spokesperson did not respond to a request for comment. The probe on the mayor was first reported by three Italian newspapers. In a comment published by Corriere della Sera newspaper on Thursday, Sala denied any wrongdoing and said he found it "shocking that the mayor should learn from a newspaper that he is under investigation and not from prosecutors. It is unacceptable". The scandal risks embarrassing Milan as the city prepares to co-host the 2026 Winter Olympics next February. The ruling centre-right parties, who govern at national level under Prime Minister Giorgia Meloni, have called for Sala's resignation. Two of the sources specified that the investigations into the mayor's position are still in their early stages and are not close to any conclusion, expressing regret that the news had become public. The Milan property market began flourishing in 2015, when the Expo international exhibition helped to transform the city into a hot spot for developers from Italy and abroad, reshaping its skyline. But complaints from local residents objecting to a sharp increase in the number of multi-storey buildings triggered investigations into alleged abuses in the fast-tracking of building permits, stalling construction activity. According to court documents, prosecutors said investigations related to the largest urban planning projects in Milan, "have brought to light a 'system'...whose purpose is to facilitate the issuance of illegal building permits and to carry out highly speculative real estate transactions". (Additional reporting by Elvira Pollina, editing by Keith Weir and Sharon Singleton) Solve the daily Crossword
The Star
6 days ago
- Business
- The Star
Prosecutors seek arrest of Coima boss and others in Milan property planning probe
MILAN (Reuters) -Prosecutors on Wednesday sought the arrest of Milan's councillor for urban planning, the head of real estate firm Coima and four others as part of investigations into planning permits that have led to a construction freeze in Italy's financial capital. The Milan property market began booming in 2015, when the Expo international exhibition helped to transform the city into a hot spot for developers from Italy and abroad. But complaints from local residents objecting to a sharp increase in multi-storey buildings triggered investigations into alleged abuses in the fast-tracking of building permits, stalling construction activity. Manfredi Catella, founder of Coima, one of Italy's biggest developers, and Giancarlo Tancredi, a member of the Milan city council, are under investigation for bribery, according to the summons to a preliminary questioning reviewed by Reuters. The pair, along with the other four people, will have to appear on July 23 before a judge, who will decide whether to arrest them or not. A statement from the Milan Prosecutor's Office on Wednesday said Guardia di Finanza police at the same time carried out "24 personal and home searches" on as many people suspected of "corruption and forgery". It did not give further detail. Spokespeople for Tancredi and for the Milan municipality declined to comment. Coima representatives were not immediately available for comment. According to the latest prosecutor's documents, award-winning architect Stefano Boeri was also named among those under investigation. A lawyer representing both Catella and Boeri did not reply to a request for comment emailed by Reuters. According to the court documents seen by Reuters on Wednesday, prosecutors said investigations related to the largest urban planning projects in Milan, "have brought to light a 'system'....whose purpose is to facilitate the issuance of illegal building permits and to carry out highly speculative real estate transactions". In February, Boeri, best known for his "Bosco Verticale" (Vertical Forest) apartment project in the city, was banned from working with the public administration by a judge in connection with another urban planning probe. (Reporting by Emilio ParodiEditing by Keith Weir and Barbara Lewis)
Straits Times
6 days ago
- Straits Times
Prosecutors seek arrest of Coima boss and others in Milan property planning probe
Find out what's new on ST website and app. MILAN - Prosecutors on Wednesday sought the arrest of Milan's councillor for urban planning, the head of real estate firm Coima and four others as part of investigations into planning permits that have led to a construction freeze in Italy's financial capital. The Milan property market began booming in 2015, when the Expo international exhibition helped to transform the city into a hot spot for developers from Italy and abroad. But complaints from local residents objecting to a sharp increase in multi-storey buildings triggered investigations into alleged abuses in the fast-tracking of building permits, stalling construction activity. Manfredi Catella, founder of Coima, one of Italy's biggest developers, and Giancarlo Tancredi, a member of the Milan city council, are under investigation for bribery, according to the summons to a preliminary questioning reviewed by Reuters. The pair, along with the other four people, will have to appear on July 23 before a judge, who will decide whether to arrest them or not. A statement from the Milan Prosecutor's Office on Wednesday said Guardia di Finanza police at the same time carried out "24 personal and home searches" on as many people suspected of "corruption and forgery". It did not give further detail. Spokespeople for Tancredi and for the Milan municipality declined to comment. Coima representatives were not immediately available for comment. Top stories Swipe. Select. Stay informed. Singapore Over 600 Telegram groups in Singapore selling, advertising vapes removed by HSA Singapore 2 weeks' jail for man caught smuggling over 1,800 vapes and pods into Singapore Singapore Jail for man who fatally hit his daughter, 2, while driving van without licence Singapore Primary 1 registration: 38 primary schools to conduct ballot in Phase 2A Singapore ComfortDelGro to introduce new taxi cancellation, waiting fee policy Singapore Here comes the sun: Less rain, more warm days in second half of July Singapore Instead of overcomplicating COE system, Govt has ensured affordable transport for all: SM Lee to Jamus Lim Singapore Baby died after mum took abortion pills and gave birth in toilet; coroner records an open verdict According to the latest prosecutor's documents, award-winning architect Stefano Boeri was also named among those under investigation. A lawyer representing both Catella and Boeri did not reply to a request for comment emailed by Reuters. According to the court documents seen by Reuters on Wednesday, prosecutors said investigations related to the largest urban planning projects in Milan, "have brought to light a 'system'....whose purpose is to facilitate the issuance of illegal building permits and to carry out highly speculative real estate transactions". In February, Boeri, best known for his "Bosco Verticale" (Vertical Forest) apartment project in the city, was banned from working with the public administration by a judge in connection with another urban planning probe. REUTERS
Deccan Herald
14-06-2025
- Politics
- Deccan Herald
June 14, 2025: Best photos from around the world
A missile launched from Iran is seen from the city of Ashkelon, Israel, June 13, 2025. An activist protests against gentrification and speculated new building projects outside Coima headquarters, a leading real estate investment and development firm, in Milan, Italy, June 13, 2025. Credit: Reuters Photo Formula One F1 - Canadian Grand Prix - Circuit Gilles Villeneuve, Montreal, Quebec, Canada - June 13, 2025 Aston Martin's Lance Stroll during practice. Credit: Reuters Photo Security forces members operate after protesters broke through barrier fencing on Capitol Hill in Washington, DC, US Credit: Reuters Photo
