Risanamento S.p.A. sells Buildable Lot for €145 million (IT)

Risanamento S.p.A., through its full subsidiary Milano Santa Giulia S.p.A., has sold the Buildable Lot for a price of €145 million plus VAT in execution of a Preliminary Contract concluded some time ago with the Le Residenze del Parco di S. Giulia Consortium, which comprises 24 co-operatives.

This portion of area, with an overall surface of about 153,000 sq m with a residential use, is part of the project called Milano Santa Giulia.

In the last few days, the Municipality of Milan informed the Milano Santa Giulia company that the urbanisation projects was granted building permission. As the next step, our subsidiary will hand over a surety policy for about 92 million.
This drew the authorisation cycle to an end and it is now possible to move on to the execution phase.

A prestigious development designed by Norman Foster will be built in the North-Western area of Milan Santa Giulia. Risanamento has already started the retail sale of the units and as of today, about 200 apartments out of 650 have been booked by private individuals.
This prestigious development consists of various types of apartments, designed to meet every need. There is a wide and diversified range of properties on offer, from one-bedroom to large apartments and lofts, which can fulfil the living needs of the new residents.
The properties will feature the highest standards of modernity and technology. The apartments will be furnished with state-of-the-art technology.
The excavation of the prestigious development has already begun; the laying of the foundations, the setting up of the building site, the construction of the concrete structures and the brickwork will start from June 2006. We have also started moving the earth in order to create the park.

On 4th June 2004, a programme agreement was signed between the Municipality of Milan and the Regional Council of Lombardy. On 16th March 2005, the Municipality of Milan and Risanamento S.p.A. signed the Agreement for the implementation of the Integrated Intervention Programme.
The signing of the Agreement was the step that gave the final go ahead to the project.
Risanamento entrusted the planning of the project to Sir Norman Foster, one of the most important name of contemporary architecture. The district will be characterised by the most modern features from a structural, architectural and functional point of view. Milan Santa Giulia was developed around people and their needs. The core of the new district will be a very large park of about 350,000 sq m.

Milan Santa Giulia covers a surface of 1,200,000 sq m and is located in a strategic area of South-Eastern Milan which is well connected to the road systems linking the city with its surroundings: the Eastern By-Pass, the A1 and A4 motorways, railways and the station of Milan Rogoredo (a stop on the high-speed railway line), the Rogoredo station of the MM3 underground trains, the Paullese road, Linate airport e the airport for private flights serviced by Ata.
Milan Santa Giulia will become a new station of the Passante Ferroviario underground railway line. Thanks to its infrastructure, the district will become one of the strategic pivots for the growth and attraction capacity of the Milan system.

Source: Risanamento

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