Lendlease Annual Report 2021

The future of placemaking is now Milan Innovation District (MIND) is a 100 hectare mixed use redevelopment, aiming to become a world leading science, knowledge and technology hub with an estimated development end value of $3.6 billion. Working Together MIND is a public private partnership (PPP), based on a 99 year concession agreement – a first and major milestone for both Milan and Italy. Together with investment partner Canada Pension Plan (CPP) Investments, the scope of works spans about half of the precinct’s area, including offices, laboratories, build to rent living, retail, feature amenities and services, as well as a creative hub. In addition to the PPP, five public and private institutions are driving the broader precinct’s development. They will deliver a new science campus for more than 18,000 students, a hospital with more than 500 beds, research centres, and a network of 68 civil society organisations. Advancing the future Our partnerships on the MIND project are helping us realise the vision of establishing an innovation district. In February 2021, to cocreate discoveries in technology and life sciences, we launched the Federated Innovation™ ecosystem. Including Lendlease, it now comprises 32 partners, more than 100 companies and greater than 100 projects in the pipeline. Together with other organisations such as universities, research centres and private companies, Federated Innovation™ acts as an innovation developer, accelerating ideas into new products, processes and services available to all partners. Creating Value Sustainable, innovative and modern design will be major features of MIND, in line with our global target to be a 1.5°C aligned company. The district will be a city based on people and placemaking Technology will be present everywhere, but invisible. We are creating buildings that facilitate data driven insights for more intuitive, responsive and consistent experiences without the glare of screens and gadgets. And our design approach uses Design for Manufacture and Assembly (DfMA) methodologies to design and deliver more safely, quickly and efficiently. Improving the planet and people’s health is our goal MIND aims to be a zero carbon precinct. The project has already made progress to deliver this commitment with the selection of its energy partners who are leaders in their field of competence. A private smart grid, as well as a new generation low temperature and high efficiency district heating and cooling network, are being developed for the site. Renewable electricity will come from a variety of sources, including on site production from solar panels. MIND will host 60,000 people living and working, with over 1,000 apartments for rent. Project timeline Targeting zero carbon precinct 32 Innovation partners Targeting digital ecosystem of autonomous buildings Artist’s impression Artist’s impression Artist’s impression Project secured First commercial spaces commenced Galeazzi Hospital completed First residential, commercial buildings and retail commenced Life sciences research centre completed University of Milan science campus completed Project completion FY32 FY19 Establishing a thriving community All buildings targeting minimum LEED Gold Precinct to be powered by 100 per cent renewable energy Targeting 95 per cent of construction waste recycled Existing buildings refurbished where possible Assessed and adapted for climate change resilience Training and jobs program established in partnership with the Italian Ministry of Justice to support inmates with opportunities in the real estate sector Codesigning spaces with local students Urban Impact Fund created to foster solutions for greener, healthier living Milan Innovation District Housed on Milan’s famed Expo 2015 site, the design, construction and delivery brings together the entire breadth of Lendlease’s end to end capabilities. It embodies our view on the future of urbanisation: more sustainable, connected and smarter. “MIND represents an excellent opportunity for CPP Investments to extend our relationship with an experienced existing global partner.” Andrea Orlandi, Managing Director, Head of Real Estate Investments – Europe, CPP Investments Artist’s impression 27 A sense of place 26 Lendlease Annual Report 2021 A Sense of Place