In recent years, European countries have significantly tightened their rules on foreign investment in strategic sectors.That’s the case in Italy and the so-calledn“Golden Power” law, which allows thegovernment to intervene in transactions involving critical assets andtechnology.
Initially affecting defense and telecom deals, this law has a broader reach and includes areas such as smart buildings, mission‑critical real estate, and the digital platforms that run them. It gives the government special intervention powers over transactions that could affect national security or public order. For example, by transferring control of strategic infrastructure, key technologies, or critical data to foreign owners.
For international investors and Italian operators this is important as there is more regulatory pressure than many expect. In reality, this means stronger expectations of transparency and governance for asset owners and operators. In this article we will see how this law is affecting real estate end the build environment, and how a smart building platform like Spacewell can help organizations be compliant and ready for high profile opportunities.
Why smart buildings are considered critical infrastructure in Italy
Are smart office buildings or corporate campus critical infrastructure? At first glance, they don’t look like it. But in practice, several trends are pulling the built environment into the Golden Power conversation:
- Buildings host critical activities. Corporate headquarters, government offices, financial institutions, hospitals, and research centres all operate from physical sites. When these sites are central to essential services, they start to look like strategic infrastructure.
- Operational technology is now deeply digital. Modern buildings rely on interconnected systems for HVAC, access control, lifts, lighting, and more. These are monitored and controlled through software platforms that aggregate a large amount of operational and sometimes security-adjacent data.
- Data gravity is shifting to the building environment. Energy use, occupancy, asset health, and space utilisation data are increasingly central to both business decisions and sustainability strategies. When this data is collected in large portfolios or in critical facilities, it becomes sensitive from both a security and policy perspective.
In other words, the more digital and data-driven buildings become, the more they intersect with the risk and policy questions that Golden Power is designed to address.
How Spacewell can help organizations in Italy comply with the Golden Power rule
Spacewell smart building and workplace solutions can significantly support the practical side of operating and transacting assets under a more stringent regulatory lens. Here are four areas where Spacewell can support your organization.
1. Making strategic assets visible and understandable
The first step in any Golden Power analysis in Italy, and elsewhere, is understanding what exactly is in scope. That means having a clear, up-to-date view of:
- Which buildings and sites are in the portfolio
- Which tenants and activities each location hosts
- Which systems and technologies are installed
- What data is being collected, where it is stored, and how it flows
Spacewell’s portfolio and asset management capabilities help consolidate this information in one place. This supports internal risk teams and external advisors in identifying which assets could fall under the Golden Power framework, long before any transaction is on the table.
2. Demonstrating robust governance and access control
Regulators are particularly attentive to who can access critical systems and data. Spacewell can support:
- Role‑based access to building and portfolio data
- Clear segregation of responsibilities between internal teams and service providers
- Integration with the customer’s identity and security stack
This creates a transparent, auditable model of who can see what. In a context where authorities may impose conditions related to data access or localization, that level of control and documentation becomes and asset in itself.
3. Underpinning continuity of service
Another Golden Power concern is whether a transaction might jeopardise the continuity of critical services. For example, could a change in ownership lead to neglected maintenance, system failures, or ess reliable operations in a strategic facility?
Spacewell’s focus on maintenance, energy monitoring, and remote oversight helps organisations:
- Reduce unplanned downtime through condition‑based and preventive maintenance
- Monitor incidents and interventions across multiple sites
- Benchmark performance and resilience across a portfolio
For owners, this translates into more resilient buildings. For buyers, it supports a stronger, data‑driven story about operational continuity, something that can be valuable both for boardrooms and for regulators.
4. Supporting transaction‑ready documentation and reporting
When deals are subject to screening, speed and clarity matter. Parties who can provide factual, structured data about their assets and operations will find it easier to work with their advisors and respond to follow‑up questions.
Because Spacewell centralises information on buildings, systems, usage, and performance, it can be a powerful backbone for:
- Vendor due diligence packs
- Foreign direct investments (FDI) and regulatory filings prepared by legal counsel
- Ongoing monitoring and reporting obligations, where applicable
Instead of filing documents and procedures in multiple formats and systems, organisations can start from a single, consistent source of truth.
Turning compliance pressure into a strategic advantage
The intervention of the Government in business transactions can be seen as a deal stopper, but it‘s also an opportunity for organizations to gain in transparency, clarity, and become audit ready.
By demonstrating robust governance over systems and data, and by evidencing traceability and continuity in strategic facilities, owners can make transactions smoother and build trust with regulators and stakeholders. Smart building platforms like Spacewell not only improve efficiency, comfort, and sustainability; they also help make the strategic role of buildings visible, controllable, and easier to explain in the context of Italy’s evolving investment‑screening landscape.
