Chinese group mulls 300-mn investment in Milan development

(ANSA) - Milan, July 8 - A Chinese property group is considering investing 300 million euros in a luxury development in Milan.
    Representatives from both China and Italy met on Tuesday at the Milan Expo to discuss a project entitled 'Italy-China Building The Future'.
    Marco De Luigi, a representative from the property group Sogim, Aldo Cingolani, the president of Bertone Design, and Zhu Yuhua, a Senator in the Shanghai region of China, were present at the meeting, which took place in the Chinese Pavilion at the Expo.
    According to the property groups involved in the discussions, 300 million euros will initially be invested.
    However, double that amount could be made available.
    "Milan and Lombardy are hugely important areas of business," Zhu said.
    Meetings with Milan council are currently underway.