Billionaire standard property set to transform the Italian Riviera

With its latest super luxury development in southern Italy, VFI Overseas Property has moved into the ‘billionaire standard.’ Hailed as ‘The 7 Wonders of the World,’ the new villas will be built near the historic Riviera town of Soverato in the southern Italian region of Calabria and will overlook the long, uncrowded beaches of Soverato Bay and the Gulf of Squilance.

VFI’s move into the super luxury billionaire bracket follows the success of its Jewel of the Sea resort at Brancaleone, near the Calabrian capital of Reggio de Calabria which became the fastest selling European holiday development of 2007, and southern Italy’s first five-star resort. The secure, gated community is now being enlarged with a series of premier beach front apartments.

The company itself was started just over two years ago by Antonio Velardo, whose family has a background in the Italian construction business going back 400 years. VFI Overseas Property has certainly had a dynamic start to its business life, initially growing to a turnover of €100 million in its first eight months.

Says Antonio Velardo: “What we have been able to do is to turn the potential of this beautiful and underdeveloped part of southern Italy into a tangible financial success, which in turn has brought money and employment to this area.

It’s not too difficult to see why areas in southern Italy such as Calabria had remained in a backwater - the local people knew what they had a real gem here, but through lack the right skills or drive, failed to do anything to develop and sell it. In my view, if you have gem, but don’t make the most of it, it’s no longer a gem.

We spent a lot of time and money on research, better rendering systems to produce good images, and a lot of hard work putting together good sales and marketing projects. But, as an achievement, this paid off and we were able to sell most of the units on our first sites before any of the construction even started”.

Antonio Velardo’s vision for VFI Overseas Property is a continued move further up-market, as evidenced by the Jewel of the Sea and ‘billionaire standard’ 7 Wonders of the World developments, and further projects at this level are now being planned for Sicily and Tunisia, another emerging market Antonio Velardo believes has a big future in front of it.

He adds: “VFI will strive to introduce the most exciting markets in overseas property to our clients whether they are purchasing for lifestyle or for investment. It is our goal that everyone who invests with VFI today will reinvest their profits in our future developments”.

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