Eurocastle Sells Italian Real Estate Fund Units

Eurocastle Investment Limited (Frankfurt Stock Exchange: EUI1 and Euronext Amsterdam: ECT) today announced that it has agreed to sell its entire holding of FIP units in Italy for a gross sale price of EUR169.2 million. The transaction will realize a gain (net of all costs) of approximately EUR15.7 million, or FFO per share of EUR0.25. The completion of the transaction, which is subject to customary conditions, is expected to close this month. The sale of the FIP units is consistent with Eurocastle's strategy to sell non core assets. Eurocastle will use the net proceeds to repay debt.

Italian province 'offers investment opportunities'

The Italian province of Calabria could be a good option for prospective rental investors, an expert has advised.

Real estate specialist Marco Rossi told the Daily Record said the region, commonly referred to as the Italian Riviera, was attracting an unprecedented level of interest from foreign buyers.

He flagged up the town of Pizzo as a possible market for overseas buyers, as it offered a variety of leisure and historical attractions and was in easy reach of an international airport.

Italy Showcases Real Estate Projects at ULI Fall Meeting

The Italian Trade Commission of New York and Assoimmobiliare, the Italian Real Estate Industry Association, are participating at this year’s Urban Land Institute Fall Meeting in Las Vegas (October 23-26) to raise awareness about Italy’s dynamic and increasingly sophisticated real estate market and to present several of Italy’s real estate and urban development projects, which lie at the cutting edge of the country's land development and present foreign groups unique opportunities for partnership. Please visit http://www.italy-uli2007.com/.

It is an exciting and profitable time to be involved in real estate development in Italy. Over the last 10 years the Italian real estate sector has undergone a significant modernization process, which has led to a remarkable growth in revenues, employment and number of deals and has increased the level of financial sophistication and transparency,

The Italian Connection

A late summer day in Florence, Italy, and the Piazza del Duomo is heaving. Tourists in shorts and T-shirts swig mineral water and squint up at the green-and-rose facade. Contessa Simonetta Brandolini d’Adda walks briskly through the throngs in a navy suit and matching slingbacks. Because of a phone call she made a few minutes before, the door at the Accademia Gallery will open—despite the fact that the museum is officially closed for the day—allowing the Contessa and her guests a private view of Michelangelo’s David.

Uniqueopportunity to invest in property in Tuscany

Lovers of the Tuscan landscapes and its charms are in for a treat. Frank Salt Real Estate and Homes of Quality have just launched Vepri – a new development offering the public the opportunity to purchase a holiday home or invest in property in this charming region of Italy. Two open days will be held at the Hilton Malta for the general public today and next Saturday from 10am till 7.30pm. Set in the heart of Tuscany, the agricultural hamlet of Vepri lies on the lush green hills of Chianti, within easy reach of Siena, Florence and Arezzo. Dotted with forests and cultivated hillsides, vineyards and olive groves, quaint farms and pastures, Vepri was originally a huge farm, parts of which were retained, while others have now been knocked down and reorganised into 33 apartments. The project is being developed and managed by a number of Maltese and Italian entities.

The New Way to Buy Luxury Italian Property in Tuscany

Tuscany, the Italian land of vineyards and artists, has always been a popular place for foreign visitors. Many of those who come, drawn in by the beauty and way of life, want to settle here, either permanently or with a second home. While those who can afford it have jumped at opportunities to invest in property here, a new option has recently been making this historic land available to even more buyers. Fractional ownership is becoming the new way to buy into larger and stately homes as well as simple apartments.

Italy properties - A southern conduit

It is a parochial market, unwilling to allow the kind of transparency which will put it on the European stage. Italy is characterised by being the country with the least outsourcing in its logistics industry in the whole of Europe, according to research company Datamonitor. Some 20 per cent of logistics is outsourced in Italy, compared to the European outsourcing leader the UK at 45 per cent. In 2006, the European Commission said Italy had the second highest density of small-to-medium-sized enterprises after the Czech republic. It has about an eight per cent cash share of both the European imports and exports markets. Exports per capita in 2006 were €6.3 million, putting the country on a par with Spain and a little lower than Lithuania, according to research company Experian. Imports per capita in 2006 were also €6.3 million, about the same as Bulgaria and Portugal.