Private investors can lease old lighthouses from the Italian government

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Italy’s government has decided to lease dozens of lighthouses to private investors. It hopes to raise a good amount of money to tackle the triple-dip recession.

In the past, the lighthouses used to guide the ships and rescue lost sailors. At that time, the keepers, technicians, and their families used to live there. After the invention of technology, the ship navigation has become automatic, leaving the lighthouses useless.

Currently, these places are photo shoot spots for newly-wed couples and gathering spots for nearby villagers. However, all of these lighthouses are pregnant with artistic beauty and historical charm. So, the government thinks that these can help in filling up the public reserves.

Italy lighthouses

Hotel Faro Capo Spartivento. (Photo Credit: Charming Sardinia)

Both Italians and foreigners will get the chance to take these properties on lease for up to 50 years. The investors can transform these places into anything they like – from luxury resorts to yoga hubs, restaurants, or bird watching spots.

The government aims to collect approximately €8 billion (approx. $A12 billion) from this project.

Italy’s state owns lots of buildings, and these are just left empty without any use. That might be the blessing of having a country dotted with artistic heritage, but it does not help in improving the economy.

Italy lighthouses

Photo Credit: Telegraph

Nevertheless, it seems that the government has finally figured out how to use these beautiful sites to lift up the failing economic condition. On the other hand, the business people will also get the chance to get a share of the country’s lucrative tourist business.

One lighthouse has so far been transformed into a boutique resort. Located in south Sardinia, the renovated Hotel Faro Capo Spartivento was originally built by the Savoy king in 1854.

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Rehana Akter

Rehana Akter is a freelance writer who loves writing about a little bit of everything. She has experience in article, blog post, and news article writing. She loves exploring new topics and subjects and writing on them with a touch of creative flair. Her writing style morphs itself according to the target audience and the required parameters.Rehana is a native Bangladeshi who is currently based in Dhaka, Bangladesh. She has been into freelance writing for more than five years.