Italy's ministry of defence expects to carry out its first property disposals over the next six months as part of a major sell-off programme, spokesperson Riccardo Cristoni said at the Mipim fair in Cannes. The disposal programme, which involves around 50% of the ministry's total portfolio, consists of thousands of assets in major city centres across Italy including Venice, Milan and Florence. The crown jewel is said to be the Arsenale shipyard in Venice, which takes up around 15% of Venice's total surface area, Cristoni said.
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