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Italy’s Economic Diplomacy, 14 September: latest news from the world

Brazil: privatisation plan in the municipality of Sao Paulo continues

The “Plano Municipal de Desestatizacao”, begun by the Mayor of Sao Paulo, Joao Doria, as soon as he took office, is now undergoing the most extensive privatisation phase of its history. The public real estate property is being placed on the market and diverse local public services are being assigned to private entities.

The municipal chamber of Sao Paulo has recently approved a bill which foresees the concession of the municipal stadium Paulo Machado de Carvalho, better known as  “Pacaembu”, to private entities. The compound covers a surface area of 75,500 square metres and includes a multipurpose sports centre and an Olympic-size swimming pool. The state concession will have a 35-year duration.

Besides the Pacaembu compound, the ambitious privatisation agenda includes the license to run subscription services and public transport ticketing, as well as the privatisation of the Anhembi, which includes the Sambadrome, the exhibition centre and the fairgrounds. The plan also includes the privatisation of the SPTuris joint-stock company (the official tourism and events board, 95% of which is owned by the Municipality), as well as the Interlagos autodrome, the contract for the maintenance of the 107 municipal parks, and the concession for the management of 29 bus terminals, 16 municipal markets, 22 cemeteries and a municipal cremation centre.

San Marino: Aedes Siiq joins the Polo della Moda project

Aedes Siiq (Italian real estate company quoted on the Borsa di Milano) has signed an agreement with BG Asset Management (Borletti Group), Dea Holding and VLG Capital, enabling it to join the Polo della Moda project, “The Market – San Marino Outlet Experience”, currently underway in the Republic of San Marino. Its share will account for 40% of the capital of the companies involved in the implementation of this project. This represents a major opportunity for the economy of San Marino as a whole, and is forecast to have a positive impact on the neighbouring Italian territory, from the point of view of employment and investment potential, stemming from transport, catering and accommodation industries.

Il Polo della Moda will be developed in two stages. The first one envisions a total investment amounting to 150 million euro, which will lead by 2018 to the opening of the first 80 stores, 6 restaurant locations and the hiring of around 500 employees. The second phase will account for a further 50 million euro investment by 2020, and the opening of more points of sale. By the end of 2021, 130 stores will open, along with 8 food catering facilities, and employment will be offered to approximately 750 individuals.  Luca De Ambrosis, founder of Dea Holding, has announced that agreements have been made with major fashion businesses to cover approximately 60% of commercial facilities.