Aedes buys the Vallescrivia Centre at auction for 1 million and a half

Aedes (Società anonima ligure per imprese e costruzioni Spa) acquires the Vallescrivia Shopping Centre in Savignone, in the province of Genoa.

The complex has a floor area of 9.300 sq m approximately (including 3.000 sq m used as a car park) and currently has an occupancy rate of 50% with annual rental income of around 220.000 euros.

Immobiliare Savoia the sole participant

The entire property was sold at auction on 31 July, and the only bidder was Aedes’ subsidiary, Immobiliare Savoia.

The auction was held according to the procedures set out in a notice of sale, published on 29 May 2026 by the Municipality of Genoa. At the end, the asset was awarded for a consideration of 1,5 million euros.

Marketing the vacant spaces

The overall investment by Immobiliare Savoia is estimated at 2 million euros, of which 1,5 million for the award and 500.000 approximately for future extraordinary maintenance and enhancement works, preparatory to the proper functioning of the facility and the marketing of the currently vacant spaces (3.150 sq m).

Through the transaction, carried out using its own funds, the new owner expects to achieve rental income of 400.000 euros per year, attributable to Immobiliare Savoia.

Società anonima ligure per imprese e costruzioni, founded in Genoa on 3 April 1905, was the first Italian property company to be listed on the stock exchange, initially on the Genoa list and, from 1924, in Milan.

Aedes’ long history

In the last century, it had illustrious shareholders: Banca d’Italia, Fondo Pensioni Cariplo, Credito italiano and Accademia dei Lincei.

More recently, it came under the control of Carlo de Benedetti and was subsequently acquired by a group of businesspeople (the Amenduni family, the Gavio family, Matteo Arpe and Giuseppe Roveda).

At the end of 2018 the Aedes Group underwent a restructuring that involved the demerger of the company. Following the liquidation of the controlling shareholder, Augusto Spa, the sale procedure was launched for the demerged business unit (Aedes Siiq), which included most of the assets, including the Serravalle Retail Park, in the Alessandria area, and the Caselle development project (Turin).

These assets were first transferred and subsequently incorporated by Domus, a joint venture between the Hines, the American real estate giant, and the Veneto-based Viba.

In the first few months of 2024 the controlling stake in the demerged company was acquired by Istituto ligure mobiliare (a finance company based in Genoa), which moved its registered office back to the Ligurian capital, with the intention of relaunching it and developing its core real estate business.

AEDES: HALF-YEAR FINANCIAL REPORT AT 30 JUNE 2026

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This article was translated from the original Italian version with the assistance of artificial intelligence. In case of discrepancies, please refer to the original Italian version.