IGD was the first company in Italy to obtain SIIQ (Società di Investimento Immobiliare Quotata) status and is still the only listed retail real estate company that qualifies as a SIIQ. There are five SIIQs in Italy today.
The Italian SIIQ regime is the same as the REIT (Real Estate Investment Trust) regime applied in many European countries and elsewhere with a view to encouraging potential shareholders to invest in real estate companies while benefitting from the resilience of the sector, as well as the liquidity of a stock market. REITs provide investors of all types with regular income, diversification and long term capital appreciation. REITs are listed on a national stock exchange in order to guarantee fair and systematic trading, as well as efficient disclosure of information.
Once it was clear that all the subjective, statutory and ownership requisites had been satisfied, in April 2008 IGD exercised the option to be treated under the new tax regime effective 31 December of the same year, as we also complied with the objective requirements by exceeding the minimum thresholds for assets and profits established under the law.
Since then we have always satisfied all the legal requirements and maintained our SIIQ status.