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11.04.2019, 15:12

Lendlease to Develop €2.5 Billion Milan Innovation District

Company News, Utilities & Transport, Contract Awards, EMEA

Lendlease has been announced as the preferred development partner for the Milan Innovation District (MInD) urbanisation project, a major new district for science, knowledge and innovation on the Expo Milano 2015 site in Cassano d’Adda.

 

The €2.5 billion (c. AUD$4 billion) project is a multi-phased, mixed-use redevelopment that is expected to include commercial, residential, retail and public realms, as well as a hospital, university and international research centre. 
 
 
Financial close for the project is subject to planning approval, with a decision expected to be made later this year.
 
 
Once approved, work is expected to commence as early as 2021 with a scheduled 15-year completion date.
 

Commenting on the announcement, Dan Labbad, CEO for Lendlease Europe, said:
 
"Work is already underway on our plan to create an exceptional new district in Milan. The Milan Innovation District is a scheme with huge potential and one where, working alongside our partner Arexpo, we are looking to build a world-leading centre of scientific excellence alongside an outstanding and active mixed-use neighbourhood."

 
Giovanni Azzone, president of site owner Arexpo (a development company owned by the Italian Ministry of Economy and Finance (Lombardy Region), Municipality of Milan, Fondazione Fiera Milano, Città Metropolitana di Milano and Municipality of Rho), said:
 
"This agreement is another important step forward for the Milano Innovation District, the area where the Expo Milano 2015 took place.
 
"This collaboration between Arexpo and Lendlease will provide the foundation of a top level international project, and a unique opportunity for Italy."
 


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