REAL ESTATE COMPLEXES

* Owned by subsidiaries of Brioschi Sviluppo Immobiliare SpA.

The complex lies within the Milanofiori Nord district in Assago which is served by the underground (line 2) and has a buildable area of 218,000 sqm of GFA. To date circa 204,000 sqm of GFA of buildings have been constructed.

The breakdown in terms of the permitted use is as follows:

- circa 122,500 sqm for offices

-circa 37,000 sqm of large retail units

-circa 18,500 sqm of residential

-circa 11,000 sqm of entertainment

-circa 7,000 sqm of small to medium retail units

-circa 8,000 sqm hotel

The following buildings are amongst those which have been sold to third parties:

-U4 and U7 (25,800 sqm GFA) to Polis Fondi Immobiliari FGRpA

-U15 (10,000 sqm GFA) to Generali Immobiliari Italia FGRpA

-U9 (8,000 sqm GFA) to Milano Serravalle Milano Tangenziali SpA

-U27 (22,000 sqm GFA) to a primary institutional Fund

-U10 (13,000 sqm GFA) to an Italian Fund managed by AXA Real Estate Investment Managers SGR

-U16 (1,800 sqm GFA) to a primary national real estate operator

The main buildings owned by Gruppo Brioschi Sviluppo Immobiliare which are leased to third parties are:

Large retail units

Seven buildings for a total GFA of circa 37,000 sqm.

Entertainment

A fitness centre of 6,000 sqm and a multiplex cinema of 5,000 sqm.

Small and medium retail units

Circa 7,000 sqm divided between numerous bars and restaurants, a bookshop and other retail businesses.

Hotel

The H2C Hotel is a 4 star business hotel which occupies a building with ten floors above ground with 158 rooms, a restaurant and 5 conference rooms for a total GFA of circa 8,000 sqm.

The functional mix of Milanofiori Nord is completed with residential complexes R1 and R3.

Residence R1

Residential complex – for which construction work required only the presentation of a commencement notice - distributed over 3/4 floors above ground. The 113 residential units have already been sold to third parties. The complex has a GFA of circa 15,000 sqm and has won many international awards as the best residential architecture project.

Residence R3

The building, which was created entirely as subsidised housing, has 10 floors and a total of more than 3,500 sqm and 47 apartments (from studio flats to two-bedroom flats) which have all been sold.

Office complex of circa 34,800 sqm in via Corassori in Modena.

For this site a project has been presented for the construction of a fitness centre of circa 13,600 sqm in via della Valle in Modena.

* Owned by subsidiaries of Brioschi Sviluppo Immobiliare SpA.

Two buildings of 5 floors used as offices, inserted in the Latinafiori Office and Shopping Centre, of around 10,000 sqm, as well as 49 car parking spaces.
Both the buildings are leased to third parties.

Complex made up of three inter-connected buildings used for production activities and warehouses (circa 14,700 sqm) as well as a building of two floors used as offices (circa 2,300 sqm). The complex is entirely leased to third parties.

Via Mameli (Cagliari)

Newly constructed building comprising seven floors above ground with residential destination and uses as offices – as well as two underground floors used for parking areas – which is currently being commercialised.

Domus De Maria (Cagliari)

 "I Lentischi" Property Complex.

Site of 13,000 sqm featuring two residential complexes named "Lentischi 1" and "Lentischi 2". The first allotment of 48 villas (with an overall area of 4,000 sqm) has already been sold to third parties and the second allotment of 51 villas has an overall area of 4,300 sqm.

Pula (Cagliari)

"Le Arcate" property complex, made up of six buildings. One is already used as a bar/restaurant, while each of the other five comprises four residential units for a total of 20 residential units, as well as surrounding land.

The overall area of the complex is more than 17,000 sqm.

Tertiary property of about 1,300 sqm which is part of the Milanofiori Office Complex in Assago (Milan), as well as 10 dedicated car parking spaces.

Industrial building with offices, stock areas and an expansion area. The overall area of the site is circa 15,000 sqm, the built area is circa 10,000 sqm with an additional buildability of circa 5,000 sqm of GFA with permitted use as laboratory space.

The property is currently occupied by members of the Leoncavallo Centro Sociale (squat).