Real estate and other investments

Is Molas project


Immsi S.p.A. operates in the real estate sector principally through the stakes owned in subsidiaries, in their turn involved in real estate development projects:

Is Molas project


Is Molas project


Through its subsidiary Is Molas S.p.A., Immsi man­ages the Is Molas resort, located in southern Sar­dinia about half an hour from Cagliari airport. The resort attracts golf-oriented customers thanks to:

  • a 27-holes club with an 18-holes par 72 championship course (which has hosted four International Opens and a Volvo open) and a 9-holes course par 36.
  • a 4 star hotel with 80 rooms, restaurant and outdoor swimming pool with bar.

On October 2004, Immsi S.p.A. acquired Is Molas S.p.A. from a bankruptcy auction. A development project of the existing resort is now ready to be implemented providing for:

  • the redevelopment of 4 stars hotel with 80 rooms, a new 5 stars suite-hotel with 40 suite, the redevelopment of the clubhouse (6,000 sqm) and a 2,500 sqm new Spa;
  • the construction of about 200 luxury villas, divided into four categories, designed by Massimiliano Fuksas, one of the protagonists of contemporary architecture, with commercial surfaces from 350 sqm to 700 sqm (inner, ter terrace and veranda) and parcels ranging from 1,100 sqm for Villa Arenada to 2,500 sqm for Villa Palas.


Pietra Ligure project

The project refers to a shipbuilding area in Pietra Ligure (Savona) that – in the project of the Company – will be converted into a real estate investment with a new Intermarine shipyard, a tourist shipyard, apartments, hotels, parkings, shops and other facilities. The area has been assigned to Immsi through a public tender in 2007.
After the approval of the preliminary development project to the transformation for urbanistic purposes,  the final project has been deposited on the basis of the indications undertaken by the competent local authorities. The planning procedure was completed with the award of a maritime concession and planning permission.


Apuliae project

The project involves the restructuring of the building ex Colonia Scarciglia in Santa Maria di Leuca (Lecce) for the construction of a hotel and a wellness centre. The property restructuring activities have been suspended as of March 2005 following investigations by the legal authorities that are still ongoing.




With reference to the Parent Company Immsi, further (non-controlling) investments were made through minority holdings in the company Alitalia – Compagnia Aerea Italiana S.p.A. – acquired with a  total investment of 129,4 million euros, and Unicredit S.p.A. with an investment at a purchase cost equal to 14.9 million euros.


For more details

Is Molas Resort