24 Mar Real estate: Héra Holding, alongside banks to bring companies out of the crisis
A real estate developer who begins to have difficulty in completing an initiative, paying suppliers and loan instalments with the bank. But instead of going through the different steps of the classification of ‘impaired’ operations (Past due, Utp and, finally, Npl, with all that it entails, it is joined by a specialized company that helps it to get out of the crisis, to complete the work and honour what is due.
All this, adding value and requalifying the property. This is the role that banks recognize in Hera Holding, a company that supports them in the management of impaired loans, a phenomenon which, moreover, will return to growth in 2021 due to the crisis.
“Where there is a real estate development project behind the loan, there is room to intervene and recover value in favour of the asset. On the initiative of their creditors, real estate development companies find a competent and reliable partner with whom to share a goal: to complete an initiative, adding value to it, with the aim of creating added value for the area as well”, explains its chairman, Oscar Pittini to Adnkronos.
Added value because, he continues, “leaving an operation at 40%, 50% or even 70% can mean abandoning a property in the city, which decays and becomes subject to vandalism. And then, even more important as it is our mission, we also help the entrepreneurial fabric in that area: architects, plumbers or electricians, for example, have an advantage in working in that initiative, because their earnings are always made and spent in the area. We help the related industries, so that they can create even greater serenity within the community “, explains Pittini.
Another important aspect, emphasizes the chairman of Hera Holding, is that of energy requalification. “The initiatives that we are involved in are mainly related to real estate developments that have stopped or that have been progressing slowly for too long and which, therefore, suffer from a technological gap due to the natural evolution of technology and consequent energy savings. A step up is necessary and in doing so – continues Pittini – we bring the property to have an energy class that makes it more resalable in the future, having a more ample market”.
Interview accorded to ADNKronos on 16th March 2021.