Rico Picenoni appointed Head of Savills Global Residential Development Consultancy

Rico Picenoni appointed Head of Savills Global Residential Development Consultancy

(IN BRIEF) Rico Picenoni has been appointed as the head of Savills Global Residential Development Consultancy. Based in London, he joins from Savills Dubai, where he served as a director in the team of branded residential specialists for two years. With two decades of experience in the hospitality and branded residential sectors, Rico has worked with renowned companies such as Accor and Seven Tides International. He has been involved in branded residential projects globally, with a total real estate value of over USD 8 billion. Rico’s expertise includes operational advisory, programming, mixed-use integration, and standalone branding models. He has also been actively engaged in asset management and consulting roles, contributing to the growth and success of various projects. As the head of Savills Global Residential Development Consultancy, Rico aims to further strengthen the company’s position in the rapidly expanding branded residential sector.

(PRESS RELEASE) LONDON, 13-Jul-2023 — /EuropaWire/ — Based at Savills global headquarters in London, Rico joins from Savills Dubai where he spent two years as a director in the team of branded residential specialists.

Rico has two decades of experience in the hospitality and branded residential sectors. Prior to joining Savills, he was head of residential development with Accor for the Middle East and Africa.

With a background in branded residential strategy including operational advisory, programming, mixed-use integration and standalone branding models, Rico supported branded residential projects globally with more than USD 8 billion in real estate value, and has underwritten in excess of 500 hotel projects across the Middle East and Africa.

This complements experience that included asset management with Seven Tides International where he managed a portfolio of hotels valued in excess of AED 1.5 billion and a consulting engagement with HVS, where he co-authored multiple publications and administered a range of valuation, feasibility, contract negotiation and strategic advisory assignments.

Rico is also a co-founder and an executive board member of the Hospitality Asset Managers Association for the Middle East and Africa.

Rico commented, “The branded residential sector is one of the fastest growing and most exciting spaces in real estate, demonstrating tremendous growth in the last decade with one record-breaking announcement after another.

“It is a pleasure to work with this team of dedicated professionals, and we’re doing some very exciting things around the world, covering everything from market studies and brand premium advisory, to brand selection and contract negotiations.”

Justin Marking, head of global residential, Savills, said, “Rico’s heading up a well-known team in the international development consultancy world and the fact that he’s one of the most expert advisors on branded residences can only enhance our offering to our clients.”

Media Contact:

Justin Marking
Head of Global Residential, Residential
+44 (0) 20 7016 3810

Rico Picenoni
Director, Global Residential Development Consultancy, Global Residential Development
+971 (0) 4 365 7700

SOURCE: Savills