Opening of the ESP shopping center - Ravenna

IGD’s origins are rooted in the activities which in 1977 were already managed by ESP Dettaglianti Associati srl in the Ravenna area and which were focused primarily on the rental of properties for the sale of non-food products.

In 1983 Coop Romagna-Marche purchases an initial stake, which gradually increases over time, equal to 53% of ESP’s share capital. In 1995 Coop Romagna-Marche merges with Coop Emilia-Veneto giving birth to Coop Adriatica which by 2006 controls 100% of ESP.

In 1998 the first ESP shopping center opens in Ravenna with the hypermarket entrusted to Coop Adriatica and the shopping mall managed by Gescom: a relationship which will endure over time.

Le fonti del corallo shopping center - Livorno

In 2000 Coop Adriatica transfers part of its retail real estate assets to ESP which changes its name definitively to IGD - Immobiliare Grande Distribuzione. Further transfers are made in the following year.

In 2003 Ipercoop Tirreno also becomes a shareholder of IGD through the transfer of the Afragola shopping center in Campania; subsequently Ipercoop Tirreno sells its share in IGD to Unicoop Tirreno (formerly Coop Toscana Lazio). Over the next two years IGD continues with the consolidation of the real estate assets belonging to Coop Adriatica and Unicoop Tirreno and purchases the shopping centers Roma Casilino and “Le fonti del Corallo”, near Livorno, from the latter.

In 2004 IGD’s interest in Gescom, the company involved in the promotion and management of shopping malls, rises from the 60% controlling interest purchased beginning in 2002 to 100%.

Over time IGD’s real estate portfolio reaches an interesting critical mass and the company develops extensive expertise in its specific businesses: the company is now ready for its debut on the stock exchange and to subsequently fund its future development.

Italian Stock Exchange

With a portfolio of 7 shopping centers, 5 hypermarkets and 1 super market, valued at €555.2 million at the end of July 2004, the Company makes its debut on the Italian Stock Exchange in February 2005 and undertakes a development plan which calls for investments of €810 million in the three year period 2005-2008.

RGD logo

In March 2007 RGD, Riqualificazione Grande Distribuzione, is born. The objective of this 50-50 joint venture between Beni Stabili and IGD is to enhance existing shopping centers, a segment which both partners believe has interesting prospects. The company’s initial assets, 2 shopping centers, had an estimated value of €113.2 million.

As the 2005-2008 investment plan was completed a year in advance, in 2007 a new plan is launched which calls for investments of €800 million to be made over the next three years. In order to finance the new plan IGD launches a capital increase of approximately €98 million and issues a €230 million convertible bond.

Winmarkt logo

In March 2008, IGD takes advantage of an important foreign investment opportunity and for €192 million acquires the company Winmarkt Magazine SA, which controls a real estate portfolio of 15 shopping centers in 14 different cities in Romania – a market with attractive consumer trends and interesting potential returns.

Winmarkt is the only major retail chain in Romania: a channel which could become strategic for international operators interested in the emerging Romanian market. The fact that none of the Winmarkt’s shopping centers are located in the capital makes the chain that much more attractive as real estate valuations in Bucharest are in line with the largest European metropolitan areas while the other cities still offer opportunities with high returns.

As of April 2008 IGD, the first reality in the Italian real estate sector, elects to exercise the option to be treated as a SIIQ – Società di Investimento Immobiliare Quotate (real estate investment trust).

Tiburtino shopping center - Guidonia. Roma

At a time characterized by economic and financial crisis, IGD continues with its programmed investments and opens important new shopping centers: at the beginning of April the Tiburtino shopping center, just outside of Rome, was inaugurated and in May the Katanè shopping center in Gravina, near Catania, opened its doors. In June the shopping center Le Maioliche in Faenza was inaugurated and IGD acquired it the following October, while the last year opening is made just before Christmas, with the inauguration of the shopping center I Bricchi in Isola d'Asti.

In Romania the strategy to stimulate and reconfigure the traffic in the Winmarkt Magazine centers is being implemented resulting in an agreement with Domo in the small appliances sector, followed by an agreement with Carrefour and MiniMax Discount in the food products sector.

On 30 April Claudio Albertini became the new Chief Executive Officer; the new CEO inherits the Group from Filippo Carbonari who was at the helm for the last five years. The choice of Claudio Albertini, who already served as a Director of IGD as well as a manager of the UGF Group, reflects the desire to ensure continuity while also increasing the focus on IGD’s role as an aggregator and facilitator in the development of the cooperative segment within the real estate sector.

Centro commerciale La Torre - Palermo

With the Christmas season approaching, IGD opened a few days apart from each other two important shopping centers. The first one, "La Torre" shopping center in Palermo, opened on 23rd November. The second opening, on 25th November, concerns the "Conè" shopping center in Conegliano, with an adjoining retail park.

The sale to Beni Stabili of 50% interest in Beinasco and Nerviano shopping centers, carried out in December through the transfert of the stake that IGD had in the joint venture RGD, make a move in the direction of the real estate portfolio rotation, according to the new strategic guideline presented in November, with the revision of the 2009-2013 business plan.

At the 31 December 2010 the market value of IGD's portfolio exceeded €1.8 billion according to an independent appraisal by CBRE.

In 2011 IGD has given creation to the provisions of the guidelines drawn in the Strategic Plan 2009-2013.
Has in fact acquired a property in commercial use in the historic center of Bologna, in Via Rizzoli, as required for the expansion of the types in the portfolio of so-called "city center assets."
In addition, following the guideline of an assets rotation to maintain consistently efficient allocation of capital, promptly reinvest the resources released from the sale of the centers controlled by the RGD's JV with the acquisition of two hypermarkets in the centers of Palermo and Conegliano, where it already owned the gallery since 2010.