New major real estate securitisation transaction handled by iSwiss: UAE funds in Sicily
This is a real estate redevelopment project of great magnitude: not only because it will change the face of the centre of Palermo and some of the most important places in the province, but also because of its financial scope. The first investment, which will be the subject of the securitisation transaction, will in fact amount to EUR 28 million.
In the securitisation transaction, the companies Legal Credit and Italiana Revisioni Spa will act as arrangers and legal services, respectively, while the vehicle company will be Progress Finance SPV.
An operation of great international echo, also because it involves an Arab Emirates fund, which demonstrates iSwiss' leadership in the field of securitisation. The financial and insurance company has made a new vision of this instrument its strong point, which has enabled it to grow not only within the Old Continent but also in promising markets such as the Balkans, Africa and the Middle East.
An important real estate securitisation, which once again shows how an instrument created to provide liquidity to companies is actually flexible and able to adapt to different situations. In the case of real estate securitisations, the return for investors is in fact guaranteed by the cash flows resulting from the real estate that is the subject of the securitisation process.
This operation will also allow individuals who would not normally have turned to this type of investment, because it was perceived as too onerous, to take advantage of a unique opportunity to diversify their investments and earn an attractive income, especially considering the period of great uncertainty.
And a real estate operation destined to bring enormous benefits to the territory in which it is carried out: in fact, the workers chosen to carry out the works are local, so as to favour employment in an area, such as Sicily, that has been suffering for years from the scourge of labour force emigration.
Furthermore, to ensure the work is carried out professionally, Omega Properties JSC has already partnered with leading companies in the construction industry, including Itaka Immobiliare srl and Effecieffe srl, which will play an important role in the first part of the project.
Andrew Anderson
Euronewspress JSC
press@euronewspress.com
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