Property and infrastructure group Lendlease has entered into a project development agreement for the second phase of the Milano Santa Giulia project (MSG), a €2bn mixed-use development in Milan being developed by Milano Santa Giulia SpA.
Lendlease called it an expansion of its urban regeneration business into Northern Italy, where it has previously done project management and health PFI services.
Known as the "north area", the MSG site includes plans for a large mixed-use city regeneration project incorporating retail, residential, commercial office, and leisure uses.
More than 2,500 new apartments and a large city park are included in the proposed scheme which is located near a motorway and a rail and metro station 12 minutes from the centre of Milan.
Lendlease signed a joint venture with Milano Santa Giulia SpA for the first phase of the project – worth around .€150m – in July.
This includes 30,000 square metres of office space, up to 3,000 square metres of associated retail space and the option to acquire the completed Sky HQ.
Lendlease’s Chief Executive Officer for International Operations, Dan Labbad, said: "Milano Santa Giulia signifies a major step forward in Lendlease’s European story in line with our strategy to grow our integrated model into global gateway cities."
Listed on the Australian Securities Exchange, Lendlease operates in Australia, Asia, the Americas and Europe, providing development, investment management, construction, asset and property management.
Image: Located near a motorway, the Milano Santa Giulia scheme is a €2bn mixed-use city regeneration project incorporating retail, residential, commercial office, and leisure uses (Lendlease)