Italy has put an island in the Venice lagoon up for auction in order to attract international funds to help ease crippling public debt. An army barracks in Trieste and a residence in Loreto – a Catholic pilgrimage site – are among those up for bidding.
“Investors can bid for our properties from everywhere, from New York or Dubai,” Stefano Scalera from public state property management agency Demanio told Reuters on Monday.
Among other sites being sold – aside from the Venetian lagoon island of Poveglia, are a 15th century bastion against the Ottoman Turks known as in Gradisca d’Isonzo, near the border with Slovenia, and an old monastery. While there are five properties considered ‘prestigious’ up for auction, forty other assets are also to be bid on.