Società Generale Immobiliare (SGI; ) was once the largest real estate and construction company in Italy. It was founded in Turin in 1862, then relocated to Rome in 1870 with the unification of Italy. The company bought some of the pastoral land around Rome and, with the growth of Rome, the company grew as real estate prices increased. The company's activities evolved into construction. Aldo Samaritani (1904–96) joined the company in 1933 and helped develop the company's construction activities. The company is famous for building residential buildings throughout Italy.[1][2]
SGI's largest shareholder was formerly the Vatican, with 15% of the shares. Most of the Vatican's holdings in the company were sold during the late 1960s to the Gulf and Western corporation. In 1970, Gulf and Western sold a 50% stake in the Paramount lot to SGI.
SGI is the predecessor of Group SGI which was controlled by Opus Dei during the early 1990s. The company was involved in the Banco Ambrosiano scandal.
A possible reference to SGI, by the name of "Internazionale Immobiliare", is featured in The Godfather Part III as part of the protagonist Michael Corleone's efforts to legitimize his fortune.[3]
Famous buildings
- Watergate complex, Washington, D.C.
- Rome Cavalieri, a Waldorf Astoria Hotel
References
- Isabella Borghese. Festa della Liberazione: in ricordo di Claudio Cianca, antifascista contro la speculazione edilizia Il Fatto Quotidiano, 2015-04-24, retrieved 2015-09-18^
- Di Manlio Cancogni. 'Capitale corrotta, nazione infetta': l'inchiesta-scandalo di Manlio Cancogni sull'Espresso l'Espresso, 2015-09-01, retrieved 2015-09-18^