Colliers International Group Inc. (CIGI) has finalized the acquisition of Progedil, an Italian residential and urban development firm, to strengthen its footprint in Rome’s high-growth real estate market. The deal underscores Colliers’ push to expand its development capabilities in key European urban centers.
- Colliers (CIGI) acquired Progedil for €48 million
- Progedil’s portfolio includes 12 active projects with 2,300 residential units
- Estimated development value of €310 million over five years
- Expected annual revenue contribution of €65 million by 2027
- Rome’s residential vacancy rate at 2.1% in Q1 2026
- Acquisition anticipated to be accretive to CIGI’s EPS in 2027
Colliers International Group Inc. (CIGI) has completed the acquisition of Progedil, a Rome-based developer specializing in residential projects and urban regeneration initiatives. The transaction, valued at €48 million, marks Colliers’ latest strategic expansion in Italy’s capital, a city experiencing rising demand for mixed-use and sustainable housing developments. Progedil brings a portfolio of 12 active projects totaling approximately 2,300 residential units across central and suburban Rome, with an estimated development value of €310 million over the next five years. The acquisition enhances Colliers’ end-to-end capabilities in urban development, integrating Progedil’s local expertise with Colliers’ global project management and capital advisory services. The combined entity will target high-density, transit-oriented developments in areas such as EUR, Ostiense, and Tiburtino, where public investment and private interest are converging to reshape the city’s skyline. Colliers expects the integration to contribute approximately €65 million in annual revenue to its European development segment by 2027. The deal comes amid heightened activity in Italy’s real estate sector, with residential construction volume increasing by 12% year-on-year in the first quarter of 2026. Colliers’ move is seen as a response to growing demand for modern, energy-efficient housing in Italy’s urban centers, particularly in Rome, where vacancy rates in the rental market have dropped to 2.1%—the lowest in a decade. The acquisition also positions CIGI to capitalize on EU infrastructure funding under the Recovery and Resilience Facility, which supports urban renewal projects. Financially, the acquisition is expected to be accretive to CIGI’s adjusted earnings per share in 2027, with an estimated return on invested capital of 15.8%. The integration will be managed through Colliers’ European Development Services division, with Progedil’s leadership team retaining operational roles. Market analysts note that the move strengthens CIGI’s competitive advantage in the European real estate development space, particularly in the residential and mixed-use segments.