Milan: Aler’s commercial properties to be transferred to an Invimit fund for redevelopment

A new step in the process of enhancing the value of public property assets. The Lombardy Housing Authority (Aler) and Invimit Sgr have signed a letter of intent to assess the transfer of Aler Milano’s commercial assets into a property fund managed by the Ministry of Economy and Finance’s asset management company. The agreement marks the start of a preliminary study phase aimed at assessing the feasibility of the operation. The aim is to transform part of the organisation’s non-residential portfolio – which is extensive but underutilised – into an instrument capable of generating economic value, supporting the organisation’s financial recovery and freeing up new resources to be reinvested in its institutional activities.

Aler Milano, a public economic body controlled by the Lombardy Region, manages over 70,000 properties across the regional capital and the province, including not only social housing but also commercial premises and other properties for various uses. The transaction forms part of a wider programme promoted by the Ministry of Economy and Finance (MEF) and Invimit to make the management of public assets more efficient and strengthen their capacity to generate economic and social value for local areas. For Invimit, the agreement represents the continuation of a strategy already underway at national level: to identify underutilised public properties, enhance their value through specialised financial instruments and restore their economic and urban function, whilst ensuring the sustainability and profitability of the operations.

Invimit’s chairman, Mario Valducci, and its chief executive, Stefano Scalera, explained that, once this initial phase is complete, more in-depth technical, legal and valuation analyses can be carried out on a shared property portfolio. Among the options under consideration is the extension of the technical and administrative services already provided by Aler to other public authorities. “The concentration of properties in the Milan area, which is characterised by great potential but also by challenges, requires the utmost commitment to ensure the success of the operation,” emphasised Invimit’s senior management.

According to the chairman of Aler Milano, Alan Rizzi, the letter of intent represents an important step in the search for innovative ways to enhance the value of non-residential property and strengthen the organisation’s financial sustainability. Any funds generated by the operation may be allocated to the maintenance and regeneration of the properties, as well as to supporting housing policies. The institutional value of the initiative was also highlighted by the chairman of the Chamber of Deputies’ Finance Committee, Marco Osnato, who described the enhancement of public assets as a strategic lever for supporting social housing and strengthening housing policies, highlighting the role of collaboration between local authorities and public bodies in creating value for local communities.