Lendlease selected for €2.5bn Milan Innovation District project

WCN Editorial Team 10 Apr 2019 EUROPE BUILDINGS

Australian construction, property and infrastructure group Lendlease has signed an agreement to develop the A$4bn (€2.5bn) Milan Innovation District (MIND), a new district for science, knowledge and innovation, on the former Expo site in Milan, Italy.

The urbanisation project is a multi-phased, mixed-use redevelopment, which is expected to include commercial, residential, retail and public realm.

Financial close on the project is subject to planning approval and a decision is expected to be taken later in 2019.

Once approved, work is expected to commence in 2021 and be completed in 15 years.

In November 2017, Lendlease announced a first stage Consultancy Agreement, which included the development of the masterplan design and business plan for the public-private partnership (PPP) project.

The site in Milan hosted the 2015 World Expo, which attracted 21 million visitors from 141 countries.

Arexpo, an agency established in 2011 to acquire land for the Expo and develop it, has chosen Lendlease for the post-Expo process to assist in transforming the site.

Arexpo intends to develop the Expo site into a hub for science, knowledge and innovation, combining institutions such as a hospital, university and international research centre with new housing, student accommodation, business, retail and a public realm.

Located to the north-west of the Milan CBD, the 100-hectare site already has excellent transport links and infrastructure.

Lendlease Europe CEO Dan Labbad 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.”

Major urbanisation projects in Europe being implemented by Lendlease include London’s Elephant Park, Euston Over Station Development and Silvertown Quays.

Arexpo president Giovanni Azzone 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.”

----------------------------------------------------------------------------------------------------------------------------------------------------

Image: Milan’s skyline. Photo: Courtesy of Conte di Cavour / Wikimedia Commons.

With 11 websites and newsletters covering all the key areas within the construction industry, World Construction Industry Network is the leading global construction information resource. READ ABOUT US
PRIVACY POLICY

STAY IN TOUCH!

LATEST TWEETS

World Construction Network | www.worldconstructionnetwork.com is a product of GlobalData. Copyright © 2021 GlobalData. All rights reserved.