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CITYLIFE AT MILAN - ITALY
12/01/2011
Rizzani de Eccher S.p.A. has acquired the stake of Immobiliare Lombarda (Gruppo Fonsai) in the consortium Tre Torri Contractor, the general contractor for the massive CityLife real estate development in Milan, which is owned by Generali and Allianz. The new consortium, composed by Rizzani de Eccher S.p.A. and Lamaro Appalti S.p.A. with equal shares, but with Rizzani de Eccher S.p.A. acting as consortium leader, is mandated to carry out construction works for approximately EUR 150 million over the next three years. At the same time, CityLife has also awarded the consortium with another contract for the construction of the Park Tower, a residential high rise designed by Daniel Libeskind and over 100m tall, for an additional EUR 50 million.
