Siemens is in advanced negotiations with BNP Paribas Real Estate Property Development about the construction of its new headquarters in Milan.

'The conclusion of these advanced negotiations is expected within a few months,´ the companies announced this week at the Expo Italia Real Estate Fair in Milan.

Siemens organised a public contest for the development of its new corporate head office in the Italian city at the end of last year. A number of major national and international developers launched bids for the construction mandate.

Designed by architects Barreca & La Varra and Stefano Boeri Architetti, the new office building is located in the new Adriano district in the north-eastern part of the city, and will offer 27,500 m2 of gross space.