FS Italiane has announced the completion of the transaction with REDEUS Fund – a closed real estate investment fund, under the management of Prelios SGR – for the sale of the former railway yards of Farini and San Cristoforo, through FS Sistemi Urbani, leading entity of the Urban Polo of the group. The agreement was signed for a total sum of 489.5 million euros.
With the conclusion of this operation, the ambitious urban transformation program of the seven former railway yards located in the city of Milan continues. This project was started in 2017 through the signing of the ‘Scali Milano’ Program Agreement between the FS Italiane Group, the Municipality of Milan and the Lombardy Region. The main purpose of the agreement is to transform the disused railway yards of Farini, Porta Romana, Porta Genova, Greco-Breda, Lambrate, Rogoredo and San Cristoforo, promoting a regeneration that aims to mend the urban fabric and create large spaces public green areas, covering more than half of their total extension.