Several Crowdfunding Projects in Sicily Were Closed on ITS Lending

Sicily is the top Italian region in terms of the number of real estate crowdfunding transactions dedicated to the regeneration of villages, with 15 projects undertaken on ITS Lending, the Italian real estate lending crowdfunding platform for the revitalization of historic villages.

The 15 crowdfunding campaigns, 13 of which have been completed and two are in the pipeline, concern the creation of structures for residential use, small and medium-sized, and a coworking and residence for foreign university students to be built in Mussomeli, in the province of Caltanissetta, a village that totals the majority of real estate transactions: eight completed, one in progress and two in the starting phase, followed by the two completed for Salemi (Trapani) and two more for Petralia Sottana (Palermo).

In all cases, these are real estate lending crowdfunding initiatives, where investors lend funds to finance the renovation of the property, against an interest rate (between 9 percent and 10 percent gross, roughly, on an annual basis) that will be recognized, along with the capital invested. Projects that have also been able to attract the attention of foreign stakeholders and enliven the local economic fabric, starting with the restoration of historic centers.

Read more about ITS Lending and find the latest financial news of the day with the Born2Invest mobile app.

Mayors’ testimonies

“Our administration, since its inauguration, has always been committed to promoting projects of urban regeneration and revaluation of the historic center,” said Giuseppe Catania, mayor of Mussomeli. “Among these, certainly of note is the one born from the collaboration with ITS ITALY for the redevelopment of a property, through a crowdfunding campaign on ITS Lending, to be used as a coworking space for foreign and Italian students. A number of companies have already submitted bids for this project, which is now at an advanced stage, and work will begin shortly. The intervention, on a building that in the recent past also housed a small food store, involves the creation of coworking spaces and rooms equipped with all comforts and such as to ensure the good stay of students from all over the world.”

“We are excited about the growing interest especially from abroad for the villages of our Italy,” said Salemi Mayor Domenico Venuti. “The partnership with ITS ITALY, thanks also to tools such as ITS Lending crowdfunding, is proving to be a valuable tool for urban regeneration and the desired fight against the depopulation of small towns.”

Who is ITS Lending

ITS Lending, whose operator, Crowdvillage, is a subsidiary of ITS ITALY, a lifestyle company established in London in 2020 to promote investments in Italian villages and historic centers was born about a year ago (November 2021). So far it has closed 22 real estate deals, in southern and central-northern Italy, raising a total of €1.37 million and an average of 24 investors, who contributed an average investment of €2,000 and an average gross rate on an annual basis of 9.3 percent.

The portal, which features simple and intuitive modes of operation, boasts, among its strengths, the security offered to individual investors: the properties to be renovated have already been acquired by the real estate company proposing the opportunity, and, in the event of a waiver of the purchase, mechanisms are activated to guarantee the investment.

__

(Featured image by Sammy-Sander via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.