Intesa Sanpaolo's management board this week approved the launch of a real estate investment trust, known in Italy as Societa di Investimento Immobiliare Quotate (SIIQ). In a statement, the company said that the new investment vehicle will have a real estate portfolio of about EUR 1 bn. Intesa Sanpaolo added that it will be the first bank in Italy to take advantage of the new tax-efficient structure, which was introduced this summer in the country .
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