Policies / Submissions

The draft law on Essential Levels of Performance (LEP) authorizes the government to define the minimum standards for civil and social rights to be guaranteed throughout the country. With regard to land management, Confindustria Assoimmobiliare participated in the debate to highlight the need for clear and coordinated LEPs in the areas of urban planning, construction, and land protection, which are essential for regulatory certainty, the reduction of litigation, and efficient investment ...

The Association’s comments address various aspects of the reform, ranging from the asset segregation of mutual funds to that of internally and externally managed SICAVs/SICAFs, governance issues, redemption mechanisms, and rules governing appointments; they are made in the belief that certain targeted measures could strengthen the overall framework of the legislation.

Confindustria Assoimmobiliare, as a trade association whose objectives include supporting the growth of the Italian real estate sector, can only welcome the bill “Provisions on public safety, the protection of personnel on duty, as well as victims of usury and the prison system” (C. 1660), both with regard to the introduction of the new substantive law provision and with regard to the introduction of a procedural rule that grants the judicial authorities and the judicial police ...

Confindustria Assoimmobiliare views the changes introduced by the Reform positively, as they partially address the concerns raised by the association itself in recent months. The current approach, however, by supporting only the management phase and not the construction phase, risks being overly ambitious compared to the targets that can actually be achieved—“to have new beds to manage, they must first be built” —and of failing to fully leverage the “catalyst effect” that ...

Assoimmobiliare has submitted its comments as part of the review of the bill converting Decree-Law No. 212 of 2023 on “Urgent measures regarding the tax incentives referred to in Articles 119, 119-ter, and 121 of Decree-Law No. 34 of May 19, 2020, converted, with amendments, by Law No. 77 of July 17, 2020” (C. 1630).

The bill is part of a commendable effort aimed at revitalizing the Italian capital markets. The Association has identified the need to support a simplification of the supervisory regime for externally managed SICAFs and SICAFs, and to explicitly apply, for AIFs, the principles of full asset segregation characteristic of mutual funds. There is also a need to amend the regulations regarding the tax transparency of real estate AIFs, as the current regime acts as a disincentive to investment. ...

Tax reform is also of great importance to the real estate sector, historically one of the driving forces of the Italian economy, which, together with the construction industry, accounts for approximately 21% of the Gross Domestic Product. The proposals put forward by Confindustria Assoimmobiliare aim to strengthen the regulatory and legal framework within which these vehicles operate, with a view to increasing their usability and attractiveness to investors, aligning the competitiveness of ...

Assoimmobiliare advocates for extending to real estate collective investment schemes the right to benefit from the tax advantages of the invoice discount and the transfer of tax credits associated with the so-called Superbonus, Ecobonus, and Sismabonus, believing that this would enable the achievement of highly significant objectives, given the specific nature of institutional investors and their substantial capital available for investment.

The Sostegni-ter Decree continues to provide support for economic activities affected by the pandemic crisis; however, the Association draws attention to potential improvements that must be addressed in the short term. Specifically, these issues concern, on the one hand, the revision of the rules governing the transfer of credits for building bonuses and other tax credits, which also affect the real estate sector (e.g., rental tax credits and tax credits for small businesses and shops), ...

While generally welcoming the introduction of immediate regulations linked to the national program and the provision of delegated authority for the systematic overhaul of the regulatory framework governing urban regeneration, Confindustria Assoimmobiliare offers technical analyses aimed at addressing certain existing challenges.

This document provides a brief analysis of the Ecological Transition Plan and identifies concrete proposals to facilitate the decarbonization of the real estate sector within a reasonable timeframe.

Assoimmobiliare outlines several priority measures to be promoted during the review of the “Sostegni Bis” decree, regarding: tax credits for shopping center operators, the possibility of renegotiating lease terms, and the exemption from regulations on shell companies.