Municipal real estate is one of the most underutilized local resources in many cities, especially in the SEES countries. The object of the PROMISE transnational cooperation project is the development of integrative tools and methods and the implementation of a comprehensive system for the efficient municipal property management. The projects outputs and results will support cities in developing tools, elaborating on strategies and policies in responding to urban challenges and opportunities offered by the new operational programmes of the Structural Funds and new European initiatives, in the fields of action and investment in urban regeneration, urban infrastructure, public services provision, built environment improvement and investments in social inclusion. The project will combine the exchange of experience through a comparative study of institutional frameworks and practices; the implementation of a comprehensive and computerized property inventory and accounting management system on a property-by-property basis, by the use of corporate property management approaches; the implementation of pilot projects: three pre-feasibility projects relating to the management and development of municipal properties for governmental, social and income generation purposes and the implementation of a municipal management authority; the development of skills, knowledge and practices at the municipal level; 'best practices guide' including recommendations for legal and administrative improvement, methods and policies to overcome problems, will be provided for the dissemination of best practices on municipal property management.