We further increased the size of our
business through recruitment and acquisitions, almost doubling the
number of colleagues within this business unit to more than 300.
Through acquisition, we established RINA Prime Property in 2022, a new subsidiary focused on property and facility management. This has added 70 new colleagues
and resulted in several new multi-year contracts. We are already in a strong position in this market
area and will look to further consolidate and expand our position in the coming years.
As part of the NextGeneration EU
program, Italy has received significant financing for regeneration, which needs to be spent by 2025 and
has opened many investment opportunities. We have already submitted a lot of tenders for work, which
will bear fruits in 2023 and have resulted in several successes in 2022.
In 2022, we established two new offices in the United Kingdom and
Poland. Our Italian clients have assets in Europe, and the Polish market is still in the early
stages of ESG. These new ventures will allow us to develop our international market in real
estate.
RINA has built a new paradigm for real estate key players for
the renovation of their buildings, generating positive externalities on the environment, people, and
investors. We have become a valuable partner for organisations, supporting them in their path to sustainability with procedures, policies, sustainability
reporting, for investment purposes (compliance of the projects with EU Taxonomy), with asset
management, including data collection. The market for services relating to decarbonisation continues
to be strong, and we are working to help our clients achieve sustainable certification of buildings as
LEED/WELL/BRREAM/WIRED SCORE/ENVISION. Furthermore, in the decarbonization process, we assisted real
estate players in Due Diligence Taxonomy and DNSH (Do Not Significant Harm).
RINA has also been assisting institutional investors, asset
owners to have GRESB assessment by providing validated ESG performance data and peer benchmarks for
investors and managers to improve business intelligence, industry engagement and decision-making.
Investors use GRESB data and analytical tools to monitor ESG-related risks, opportunities and impacts
and to engage with their investment managers. Decarbonization monitoring (CRREM), energy audit and
efficiency, project monitoring, including sustainable costs and Eu Taxonomy compliance are all also in
RINA’s value proposition.
Proptech or
Smart Property represents one of the pillars of RINA Prime
together with sustainability and management efficiency. Property management of buildings
can benefit of use of Artificial Intelligence (A.I.). RINA has developed an avatar that, unlike
common AI applications (such as chatbots), is based on neural networks. The avatar, an interface
capable of learning, reasoning, and analysing the requests of the counterpart and is integrated
into the CRM, will revolutionize management and the quality and quantity of services
offered.
Our IDEA RE subsidiary provides the tools and technology to monitor all aspects of real estate portfolio
management through the single, integrated REF Real Estate Framework. It covers the
management of Assets, Properties, Facilities and Agencies and allows our customers to operate
directly on the database without requiring specific IT skills. In 2022 several new functions were
developed, including complete digitalisation of contracts,
with e-signing, and an App for secure tenant access to the
administrative and maintenance services provided by the owner. It allows the tenant to consult
their contract, download bills, failures, ticketing or communications, and receive warnings and
notifications from a mobile device.
Through all the legal entities within RINA Prime, we can now cover
all aspects of the lifecycle of assets, including
valuations, advisory services, technical services, technologies, and property management. This
has made us a leader in the Italian market and provides
our clients with a real value proposition.
For 2023, we will continue to invest in technology, sustainability, and integrated
services. Following our acquisitions and growth over the past couple of years, the coming
months will be a time for consolidation, further integration, and ongoing recruitment of
colleagues to support our strong position in the real estate market.
Valuation of more than 3,500 international assets
Starting at the end of 2022, RINA was appointed to supply the valuation of more than
3,500 assets located in Italy, another part of Europe and North Africa. This significant
project, which covers many holdings across multiple locations, will provide the client with
values for all assets based on RINA Prime's expertise in valuation and associated advisory
services. For RINA, this project consolidates our brand for the valuation of overseas
projects.
Project monitoring for lenders
Università Statale of Milan will be relocated in 5 years to the new area of ex-EXPO
Milan. The new campus will be situated in a 190,000 m2 area and host a community of over
23,000 people. The campus will be equipped with the latest generation of research and
technological infrastructures. It is designed to enhance synergies between different fields
with an ecosystem strongly oriented towards innovation. RINA will monitor the project for the
purpose of financing and is providing multidisciplinary skills, including sustainability
expertise. The project will be LEED certified.
LEED/ENVISION
certification and DNSH
In a project financed by PNRR, RINA-certified railway stations and an airport terminal
building, located in the centre and south of Italy, within the Leadership in Energy and
Environmental Design (LEED) and Envision certification frameworks. These frameworks guide
green building design based on comfort, energy efficiency, and the impact of infrastructures
on communities. The project also followed the EU taxonomy ‘Do No Significant Harm’ (DNSH)
principle.
The project aimed to improve the energy efficiency of assets. RINA provided skilled LEED AP,
WELL and Envision qualified engineers to carry out this work.
Global services for
non-performing loans
RINA provided global services for non-performing loans (NPL) for more than 4000 buildings
in Italy. The work used resources, including Rina Prime Property, REF software, NPLS Re
Solutions, and RPVS Technical Services, to facilitate administrative and technical property
management in a structured fashion. The innovative service leveraged the REF Building software
platform for Real Estate Management, designed specifically for the technical and
administrative specificities of the Italian market and RINA’s multidisciplinary competencies
in the NPL market.
Assessment of the market
value of 3,000 assets
RINA assessed the value of 3,000 assets with a total book value of $519M in a region on
the shore of the Caspian Sea, 70 km south of Aktau in Kazakhstan, the project aimed to obtain
the market value of the properties for potential consideration for disposal. RINA provided a
multidisciplinary team with skills in marine, real estate, equipment, and land
valuation.
RINA provides consultancy
for a prestigious property company
The goal was the creation of interactive business intelligence dashboards using CAD and
BIM files that allow the optimisation of the IT management of real estate assets. The new
dashboards are connected with REFTREE, the leading IT platform for the management of large
real estate assets. RINA owns the software and is leader in the proptech field and has
enhanced REFTREE’s functions by integrating it with BIM and BI.
RINA promotes energy
transition opportunities
RINA covers the entire value chain of renewable plants in the real estate sector,
scouting and searching for areas, obtaining permits, plant construction (EPC), creation and
development of Renewable Energy Communities. RINA managed more than 40 development projects,
with more than 576 MWatt of renewable energy produced and more than 800 tonnes of CO2 saved.
RINA strives every day to operational excellence
RINA analysed all the appraisals carried out for a major European bank. These were
residential mortgage appraisals. The data covered over 5000 appraisals and more than 650 files
were reviewed to identify areas for improvement. This project improved the entire work
process, reduced processing times and optimised contractual SLAs.
RINA promotes energy efficiency projects
RINA helped Italy's largest cinema operator to secure funding for energy efficiency
upgrades for 18 cinemas and theatres in Italy. The funding was part of the National Recovery
Plan (PNRR): all 18 projects submitted were accepted and financed.
Energy analysis shows that energy savings of 15 per cent will be guaranteed on each multiplex
that will be renovated, with a saving per multiplex of 15,000 kWh per year. RINA will also
carry out the works supervision.
RINA assists international investors to analyse the best
real estate opportunities in Italy
RINA helped an international Real Estate Investor to buy a big real estate portfolio in
Italy. We carried out a strategic and delicate role in this important acquisition. The project
was very challenging with very short lead times: more than one hundred properties located
throughout Italy and of different asset classes. RINA provided a multidisciplinary team with
skills in real estate, urban planning, cadastral and financial evaluation.
