“Abitare Gentile” project in Foligno: rent controlled housing for 60 families

Nov 27 2018

ASCI fund (Prelios SGR) and its main investor FIA (CDP Investimenti SGR) key players in the project

The ASCI fund (Abitare Sostenibile Centro Italia) managed by Prelios SGR is completing a new 7,000 sq.m property development consisting largely of social housing (79% of the surface area) together with commercial premises located on the ground floor, on the site of the old hospital in Foligno.

 The purpose of the “Abitare Gentile” project is to meet demand for housing guaranteeing high technical and construction quality and offered at controlled rents with respect to the open market.

 A total of 60 apartments will be available on controlled conditions, under a number of formats: 33 on long-term leases, 12 under a rent-to-buy scheme, and 15 on agreed conditions of sale. Handover is planned for March 2019. For more information, visit www.housing-umbria.it.

 The project is coordinated by Prelios SGR, as manager of the ASCI fund, with the support of the FHS social housing foundation. The ASCI fund is a closed-end real estate investment fund reserved for institutional investors, set up to promote the development of social housing initiatives in central Italy, specifically in the regions of the Marche and Umbria.

 The main investor in the ASCI fund is FIA - Fondo Investimenti per l’Abitare managed by CDP Investimenti SGR (Cassa Depositi e Prestiti group), which operates at national level with assets totaling more than 2 billion euro, to increase the social housing offer by investing in local real estate funds operated by other fund managers. The FIA fund was set up in 2010 with the ultimate goal of creating more than 20,000 social housing units and 8,500 places in university residences and temporary accommodation.