Italy's State Agency Commits €5 billion to Revitalize Public Property

The Italian State Property Agency (Agenzia del Demanio) announced a €5 billion investment plan spanning four years (2022‑2025) to recover, restore and repurpose underused public assets. Projects include the restoration of Florence’s Basilica of San Miniato al Monte, the conversion of the Perugia prison into a prosecutor’s office, and the return of the Calatrava “Vela” structure in Tor Vergata for a green‑city health and research hub.

Completed interventions rose 172 % compared with four years earlier, generating €144 million in savings through the termination of passive leases and attracting €120 million of private capital via concessions and loans. By June 2026, 37 partnership agreements had been signed, with a target of 65 by 2028, covering 439 properties. The program aims to create more than 6,700 student housing units, over 1,800 social‑housing apartments, and 10 million m² of green space, projected to generate €18 billion in economic activity and create about 97,500 jobs. The agency’s vice‑minister of economy, Maurizio Leo, signaled openness to fiscal incentives such as reduced IMU, TARI and land‑use fees to stimulate public‑private collaborations.