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Fosun to invest 400 million in Milan

09 May, La Stampa

The Chinese group launched a new requalification project in Piazza Cordusio named The Medelan, after the Celtic name of Milan. The area covers 55 thousand Sqm, and it consists of three interconnected buildings. By 2021, they’ll become offices, shops, a rooftop restaurant and a bar in what used to be the vault of the bank Credito Italiano. The project will create 2 thousand new jobs and it’s expected to attract 25 thousand visitors yearly.

Fosun invested 344 million euro in the project. The asset was transferred to the DeA Capital fund named Fondo Broggi, while JLL, Cushman & Wakefield and Cbre will manage the rents.

Source: La Stampa

Translator: Cristina Ambrosi

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