On December 21, 2016, Fondazione Prada opened "Osservatorio," a new exhibition space dedicated to photography and visual language, in Milan's Galleria Vittorio Emanuele II.

The new space occupies two floors and an 800-square-meter space on the fifth and sixth floors of the building at the heart of the Galleria, a cross-shaped arcade designed by architect Giuseppe Mengoni between 1865 and 1867. The exhibition space explores trends and expressions in contemporary photography and explores the ever-evolving medium and its global connections.

The inaugural exhibition, "Give Me Yesterday," curated by Francesco Zanotto, runs until March 12. The exhibition features over 50 works by 14 Italian and international artists, exploring the use of photography as a personal diary from the early 2000s to the present day.

Artists include Ryan McGinley, Melanie Bonagio, Tomé Duarte, Irene Fenara, Lebohang Kanye, Vendula Knopova, Li Ledair, Wen Ling, Joanna Piotrowska, Greg Reynolds, Antonio Lovardi, and Maurice van Es, as well as Japanese artists Kenta Kobayashi and Izumi Miyazaki.