Italian real estate company Aedes has outlined a new group structure and set an ambitious target for future growth in its 2008 - 2010 business plan. The announcement was made ahead of a board meeting scheduled for 13 February 2008.

Italian real estate company Aedes has outlined a new group structure and set an ambitious target for future growth in its 2008 - 2010 business plan. The announcement was made ahead of a board meeting scheduled for 13 February 2008.

Despite disappointing third-quarter results, Aedes intends to have EUR 10 bn of assets under management by the end of 2010. The company plans to meet this target through the launch of both traditional and opportunistic real estate funds and a SIIQ, the Italian version of a real estate investment trust.

Aedes BPM Real Estate will launch six traditional real estate funds, with total assets of EUR 2.5 bn, by the end of the decade, while Aedes Value Added (AVA) will launch five real estate opportunistic funds, with EUR 5 bn in assets, within the period. Tommaso Cartone has been designated as chairman of the future SIIQ.