Italy's ministry of defence has handed over 201 former military barracks, worth over EUR 1 bn, to the Government Property Agency (Agenzia del Demanio). The operation is part of an agreement to transform barracks located in city centres into 'buildings of public utility'.
Italy's ministry of defence has handed over 201 former military barracks, worth over EUR 1 bn, to the Government Property Agency (Agenzia del Demanio). The operation is part of an agreement to transform barracks located in city centres into 'buildings of public utility'.
The military properties will be refurbished and converted for social, civil or commercial purposes, in accordance with the needs of Italy's local authorities. 'The project is extremely ambitious,' said Elisabetta Spitz, director of the Demanio agency. 'Once the plan is completed, Italy's city-barracks will be transformed into shopping centres, parking lots, schools, hotels and libraries,' she added.
The first of four decrees for the transferral of the barracks to the Government has already been agreed and a second another EUR 1 bn of assets will be handed over by July 2007. The third deadline is on February 2008. On completion of the process the government will have EUR 4 bn worth of properties to be distributed.
Italian Demanio agency, which manages state-owned properties, employs 890 people and has 20 branches throughout the country.