Italian property developer Risanamento S.p.A is embarking on an extensive urban planning project in south-east Milan, Italy.

Designed by architect Norman Foster, the new 1.2 million sq m (12.9 million sq ft) residential area – dubbed Milano Santa Giulia – will create a city within a city. The development will be built by Luigi Zunino on a former industrial site.

The urban complex will boast accommodation, shops and supermarkets, theatres and cinemas, sports grounds, health facilities, a nursery school, a church, an exhibition hall and a civic centre, as well as Milan’s first congress centre.

The residential development of 600 apartments will be spiral shaped to maximise the amount of light and ventilation entering the building.

The complex will overlook a 4.5 hectare park with controlled-entry access for exclusive residential use. The park will host indoor and outdoor swimming pools, tennis and squash courts and a 2,000sq m (21,527sq m) fitness centre with a beauty facility.

Project development – which began at the end of 2005 – may be split into three macro areas: the Rogoredo area, the Montecity housing area and the Montecity Avenue area. Completion of the Rogeredo and Montecity areas is expected to take three years, whereas the Montecity Avenue area is scheduled for 2011.

The Montecity-Rogoredo area currently has an accounting value of around 600m euro (£411m, US$715m). Overall revenue of around 800m euro (£548m, US$953m) is foreseen. Approximately 300m euro (£205m, US$357m) is yet to be invested.

Estimated construction costs of the entire project over the next six years are estimated at 1.4bn euro (£960m, US$1.66bn) which, in addition to those already incurred in purchasing the land, will bring the overall investment to around 2bn euro (£1.37bn, US$2.38bn). Details: www.milanosantaguilia.com