Three projects listed for the redevelopment of Portello pavillons 1 and 2

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Milan, 27 April 2015 -  Today’s Executive Committee meeting chaired by Benito Benedini examined the expressions of interest received, along with their attached documents, identifying which best met the needs of Fondazione Fiera Milano.

The joint review of the proposals, all of which featured highly usable public space, showed there are two possible solutions for the future use of the area concerned.

The proposal submitted by A.C. Milan with Arup Italia s.r.l, which is very profitable and very unique in terms of its functional mix depends on a number of conditions. In fact, it will be necessary to demonstrate if all the areas needed to develop the project are available and if they are logistically compatible with the other Portello activities in terms of their accessibility. The strength of this proposal is the direct management of the structure by the party carrying out the project.

The other expressions of interest received offer solutions that blend in more seamlessly with the existing urban surroundings but the long-term revenues generated by the underlying business in the long term require further investigation. Among the proposals deemed to deserve more in-depth analysis were those submitted by Prelios SpA and Vitali SpA with STAM Europe S.A..

Based on the above, the Executive Committee has given a mandate to Chairman Benedini to verify:

  1. if all the necessary conditions are in place for the AC Milan project to be concretely carried out and for Fondazione to obtain the best economic conditions;
  2. the actual economic conditions that can be obtained from the proposals submitted by Prelios and Vitali and their long-term sustainability.

The Executive Committee will therefore make a proposal for a decision to the General Counsel of Fondazione as quickly as possible, that is, in 6 weeks at the most.