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Lendlease Secures $4bn Urbanisation Project


Lendlease has officially signed an agreement to develop a $4 billion mixed-use urbanisation project spanning a 100-hectare site in Milan, Italy.

The 15-year multi-phased development will transform Milan’s former expo site to become MIND Milano Innovation District, a new precinct for science, knowledge, and innovation.

The formal agreement announced on Wednesday confirms Lendlease will be the planning and development lead of the site that will incorporate residential, commercial, retail and public realm.

Related: Lendlease Face Potential Class Action

Master plan for Milan’s former 2015 World Expo site.
Master plan for Milan’s former 2015 World Expo site. Lendlease will deliver the project in collaboration with landowner Arexpo.Carlo Ratti Associati

Lendlease Europe chief executive Dan Labbad says the new district will include a hospital, university and international research centre.

“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.”

Related: Lendlease’s $20bn European Project Pipeline

Last year Lendlease secured a multi billion dollar contract to redevelop Milano Santa Giulia.
Last year Lendlease secured a multi billion dollar contract to redevelop Milano Santa Giulia.

The masterplan was officially unveiled in Milan in 2017 when Lendlease was engaged to develop the masterplan and business plan for the site.

Financial close for the project is subject to planning approval, which is expected to be finalised this year.

Once approved, work is expected to commence in 2021.

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Article originally posted at: https://theurbandeveloper.com/articles/lendlease-secures-4bn-mixed-use-development-site