  We define and study projective special para-Kahler manifolds and show that
they appear as target manifolds when reducing five-dimensional vector
multiplets coupled to supergravity with respect to time. The dimensional
reductions with respect to time and space are carried out in a uniform way
using an epsilon-complex notation. We explain the relation of our formalism to
other formalisms of special geometry used in the literature. In the second part
of the paper we investigate instanton solutions and their dimensional lifting
to black holes. We show that the instanton action, which can be defined after
dualising axions into tensor fields, agrees with the ADM mass of the
corresponding black hole. The relation between actions via Wick rotation, Hodge
dualisation and analytic continuation of axions is discussed.
