Società Generale Immobiliare
Encyclopedia
Società Generale Immobiliare (The General Company of Real Estate) was the largest Italian real estate and construction company. It was founded in Turin
in 1862 but then moved to Rome in 1870 with the unification of Italy. After moving to Rome
, the company became interested in the pastoral land around Rome and ended up buying it. With the growth of Rome, the company grew as real estate prices rose. With time, the company's activities changed from focusing on real estate to focusing on construction. One of the people to lead Immobiliare in the construction direction was Aldo Samaritani who joined the company in 1933. The company is famous for building numerous residential buildings throughout Italy.
Immobiliare's largest share holder was the Vatican
, which held fifteen percent of the shares. However, most of the Vatican's holdings in the company were sold in the late 1960s to Gulf and Western. It is the predecessor of group SGI which was brought under the control of the Opus Dei
in the early 1990s. The company was also involved in the scandal of Banco Ambrosiano
.
Turin
Turin is a city and major business and cultural centre in northern Italy, capital of the Piedmont region, located mainly on the left bank of the Po River and surrounded by the Alpine arch. The population of the city proper is 909,193 while the population of the urban area is estimated by Eurostat...
in 1862 but then moved to Rome in 1870 with the unification of Italy. After moving to Rome
Rome
Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...
, the company became interested in the pastoral land around Rome and ended up buying it. With the growth of Rome, the company grew as real estate prices rose. With time, the company's activities changed from focusing on real estate to focusing on construction. One of the people to lead Immobiliare in the construction direction was Aldo Samaritani who joined the company in 1933. The company is famous for building numerous residential buildings throughout Italy.
Immobiliare's largest share holder was the Vatican
Holy See
The Holy See is the episcopal jurisdiction of the Catholic Church in Rome, in which its Bishop is commonly known as the Pope. It is the preeminent episcopal see of the Catholic Church, forming the central government of the Church. As such, diplomatically, and in other spheres the Holy See acts and...
, which held fifteen percent of the shares. However, most of the Vatican's holdings in the company were sold in the late 1960s to Gulf and Western. It is the predecessor of group SGI which was brought under the control of the Opus Dei
Opus Dei
Opus Dei, formally known as The Prelature of the Holy Cross and Opus Dei , is an organization of the Catholic Church that teaches that everyone is called to holiness and that ordinary life is a path to sanctity. The majority of its membership are lay people, with secular priests under the...
in the early 1990s. The company was also involved in the scandal of Banco Ambrosiano
Banco Ambrosiano
Banco Ambrosiano was an Italian bank which collapsed in 1982. At the centre of the bank's failure was its chairman, Roberto Calvi and his membership in the illegal Masonic Lodge Propaganda Due...
.