Risanamento SpA's subsidiary Milano Santa Giulia Spa entered into a joint venture agreement with Lendlease Corp. Ltd.-unit Lendlease Italy Srl to undertake the €115 million development of CD Lots South real estate project in Milan, Reuters reported.

The CD Lots South-owned company, whose share capital will be split 50/50 between Milano and Lendlease, will implement the real estate development.

The partnership comes with the option for Lendlease to purchase Sky Complex in Milan, according to the June 12 report.