The Italian Government recently launched a massive disposal programme of real estate assets owned by the Ministry of Defence. The scheme, also known as Valore Paese, involves the transfer of E4bn (£2.7bn) of assets from the Ministry of Defence to the Demanio Agency, a governmental agency set up in 1999 whose primary objective is to manage the real estate assets owned by the state.
Assets such as land, barracks, arsenals, military airports, firing grounds and military warehouses will be transferred, in four tranches of E1bn (£675m) each, to the Demanio Agency with a view to maximising the value of the estate and changing its purpose from military to social and cultural use.
