Simon Property Group Opens Shopping Center in Rome, Italy

Simon Property Group, Inc. announced today that the Porta di Roma shopping center in Rome, Italy has been opened to the public. The center is the joint development of the Lamaro Group, a major Rome-based construction and development organization, and Gallerie Commerciali Italia ("GCI"), SPG's Italian joint venture partnership with Groupe Auchan. The project is located on the north side of Rome adjacent to the Grande Annulare, the peripheral highway which circles the city. The trade area for Porta di Roma contains approximately 1.3 million people.

Henderson to grow Italy unit, launch property fund

LONDON, July 27 (Reuters) - British fund management group Henderson Global Investors (HGI.L: Quote, Profile , Research) said on Friday it wanted to raise 250 million euros ($341.3 million) from institutional investors for a new closed-ended Italian retail property fund. The Fondo Azzurro is the debut fund of Henderson's Italian unit, Henderson Global Investors SGR, which the company said was set to expand after getting clearance from the Bank of Italy.

In Italy, a Church Turned Into a Vacation Home

The Westport, Conn., couple transformed an idiosyncratic ruin of a church into a highly personalized, luxurious vacation home — remarkably without a hitch, at modest expense and without speaking the language. They encountered no bureaucratic or legal entanglements, no logistical issues, and no aesthetic compromises. The work began in November 1999 and was completed within a year, with the Mulias making only a handful of visits. “I have to say we didn’t have any bad experiences,” Mrs. Mulia said.

Italian property investment more accessible

Mark Slaviero of Homes in Italy said with more budget airlines offering routes between the UK and Italy, as well as new airports opening in southern Italy, accessibility has improved vastly. Southern Italy in particular offers a number of investment opportunities, according to Mr Slaviero, as it is still up and coming.

Enpam, the Italian pension fund for doctors and dentists, has sold a 29-property portfolio for €305m.

Pirelli Real Estate acquired the portfolio with holder Global Opportunities Fund II, a fund managed by Deutsche Bank subsidiary RREEF, which acquired 65%. After the deal’s closure in the autumn, assets will transfer to Pirelli’s Social & Public Initiatives fund.This portfolio largely comprises northern retail and office assets concentrated in the Lombardy and Tuscany regions and currently has an average 54% vacancy rate.

Taormina Sicily, Italy

If you are looking for somewhere which really is beautiful in Sicily and which has a beach and is lively, then Taormina is a place you should definitely consider buying real estate or property in.Situated on the east coast of Sicily and about 1 hours south of Catania airportthe large city of Catania and Catania International airport), Taormina is a small sits which ismaily based on top of a cliff face, hence the stunning views.