Italian real estate investment trust IGD SIIQ said on Friday it has signed a preliminary agreement to acquire a shopping gallery in Gorizia, in northeastern Italy, on the border with Slovenia, for EUR 49mln. IGD, which is the first firm to convert to the tax-efficient REIT status in Italy, plans to develop a shopping centre on the site, consisting of a 4,500 m[sup]2[/sup] supermarket and a shopping gallery of 14,300 m[sup]2[/sup]. The shopping mall is scheduled for opening in the first half of 2011.
Italian real estate investment trust IGD SIIQ said on Friday it has signed a preliminary agreement to acquire a shopping gallery in Gorizia, in northeastern Italy, on the border with Slovenia, for EUR 49mln. IGD, which is the first firm to convert to the tax-efficient REIT status in Italy, plans to develop a shopping centre on the site, consisting of a 4,500 m2 supermarket and a shopping gallery of 14,300 m2. The shopping mall is scheduled for opening in the first half of 2011.
Italian supermarket chain Coop Consumatori NordEst is buying the supermarket within the shopping centre, IGD said in a statement. The centre's catchment area within a 30-minute drive is about 150,000 inhabitants, the company added. 'We are investing in what we think could become the most important shopping centre in the area,' said CEO Filippo Carbonari.
