Through SPIM Società per il Patrimonio Immobiliare S.p.A., a company 100% owned by the City of Genoa, since the year 2000 the City has pursued an innovative, original method of managing its real estate assets based on two guidelines: management of the process of divestment and use of its historic real estate assets, and promotion and implementation of work on real estate aimed at responding to specific requirements of local government.
This subsidiary company with direct controlover real estate assets has offered the city government not only clear financial and economic benefits but the certainty of rigorous application of regulations protecting lessees.
The process of divestment and use of the city’s historic real estate assetswhich began in 2001 and is still under way involved more than 4,200 real estate units, including about 3,600 residences and 600 other properties which the City sold to SPIM, earning more than 225 million euro for public works and infrastructure projects for the improvement of both the city centre and outlying areas.
Sale of another 400 properties of very different types on the market, to protect the city’s economic structure, has permitted consolidation of important enterprises, promotion of new businesses, and redevelopment of properties in outlying areas which had not been in use for some time.
Through SPIM, the City has promoted some of the most important actions for rationalisation of its own locations and relocation of activities of public interest, worth a total of about 150 million euro.
Spim’s projects for use of the city’s real estate, includingGenoa’s Produce Market, are innovative experiments in business partnerships between private and public partners laying the foundations for generating the best possible synergy between the professionalism of the planning team, private investors’ specialised know-how and public direction.
In 2002 SPIM established SCM Scpa, which completed the construction of the new produce market in Bolzaneto, investing a total of 30 millioneuro.
SPIM now owns a 35% share in the company SGM, which is in charge of operating the market facility and owns 100% of its real estate.