€2.149 billion valuation drives Inter and Milan's new San Siro plan

Il new San Siro stadium for Inter and Milan is projected to be worth over €2.1 billion once completed, with the opening scheduled for 2032, according to the feasibility report filed with the Comune di Milano. The document, submitted by the two clubs, outlines the financial and structural details of the ambitious redevelopment.

Il Corriere della Sera the valuation assigned to the future arena is precisely €2.149 billion. This figure represents the dominant component of the overall project.

Project size and components

The entire development will cover about 162,000 square metres. Of this, 64,000 square metres – roughly 39 % – are earmarked for the stadium itself.

The remaining 98,000 square metres, accounting for 61 %, will host offices, hotels and commercial spaces. No residential units are planned within the complex.

Construction of the stadium and its substructure is estimated at €708 million. An additional €121 million is allocated for parking and underground facilities, while €172 million will fund commercial and hospitality areas. Demolition and disposal of the existing structures are expected to cost around €115 million.

Financing and profitability

Interest on the capital required for the works and guarantee fees are projected to total about €382 million. This amount corresponds to roughly 17 % of the total project cost.

Overall, the scheme is expected to cost approximately €2.3 billion. The final valuation of the completed urban development is estimated at €2.565 billion, leaving a positive gap of about €265 million. The documentation labels this surplus, equivalent to around 11.5 % of the costs, as the ‘plusvalenza’ of the operation.

The external real‑estate component – offices, hotels and retail – is estimated to be worth roughly €418 million. These assets form a significant part of the projected overall value.

The €2.149 billion figure is a theoretical asset valuation for the completed stadium, not an estimate of annual revenues or a future sale price. The feasibility study does not disclose the methodology used to derive this valuation.