IGD Immobiliare Grande Distribuzione, listed on the Italian Stock Exchange since February 2005, is the first and only SIIQ – Società di Investimento Immobiliare Quotata (real estate investment trust) – in Italy.

IGD was born following the transfer of a large part of the real estate assets owned by Coop Adriatica and Unicoop Tirreno, the two majority shareholders who today control 55.1% of IGD’s capital. The goal was to consolidate the experiences matured previously in the real estate sector through the creation of a specialized company, capable of working competitively in the sector. This objective was achieved in full, as the level of profitability and the growth obtained from the IPO through today are testimony, thanks also to an effective governance structure.

Of IGD's consolidated revenues, totalling Euro 119.66 million at 31 December 2009, Euro 28.36 million of lease income came from related parties.

IGD’s portfolio, which has a market value of €1.72 billion*, consists solely of the retail segment and includes 48 properties, between malls and hypermarkets, located throughout Italy and Romania. Through the 50% stake in RGD, IGD also controls three other commercial buildings.

IGD has a selective investment policy; at the time of the IPO it launched an investment plan of €810 million. Then in 2007 the company launched a new plan, for an additional €800 million, involving investments the majority of which were already contemplated in preliminary contracts. The new business plan 2009-2013, presented in November 2009, confirmed all the previous projects and included Euro 150 million of new investments in shopping malls to be carried out in the historic center of two major Italian cities. The total new investment plan with a horizon to 2013 amounted to Euro 750 million.

* CBRE’s independent appraisal at 31 December 2009