“It’s a perfect time to enter in the Italian real estate market and…” – Giovanni Maria Paviera, Head of Real Estate, Cassa Depositi e Prestiti

Giovanni Maria PavieraWhich strategies/actions are you implementing to accelerate the sale of public assets?
Our portfolio is a very diversified portfolio. We hold assets in 70 Municipality and 14 Regions. From the industrial point of view is a value added portfolio. So we put in place different strategies. Sometimes they are partnerships (i.e Torri dell’Eur with Telecom), sometimes are sales of portfolio and sometimes are sales of a single assets.

Where do you see Italy in the real estate investment cycle?
I think that we are in the final fase of the crisis. There was a significant reduction of the value in the last 8 years and I think that we are more or less at the bottom. So it’s a perfect time to enter in the Italian real estate market and not only in the yielding assets.
One of the main problems of the market is  liquidity, so the increase of the international investors in the Italian market could be one of the key aspect of the Italian real estate 2.0

Do you see more international investors becoming more active? What do they look for in Italy?
Sure, in the last months many international investors have looked to the italian real estate market. Some of them have invested significantly.
In this phase they invested primarily in Milan and Rome, in the yielding asset and especially in the retail sector. The reason is obvious, the retail sector is a global and doesn’t need a specific knowledge at local level. In the future the bet will be to involve the international investors in other cities and in other sectors.
Giovanni Maria Paviera will once again participate in Italia GRI, Milan 3-4 November.

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