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The Coliseum on State Farm Land

The Florentine Margheri Group has presented a project to construct a 100,000 sqm shopping and entertainment center in Leningrad region next to the city limits and ring road. It will be located on land formerly belonging to the Bugry State Farm. The Italian group purchased the 40 ha lot outright. The Russian division of Costruzioni Margheri S.p.A is OOO Bugry Mar.

Various departments of Costruzioni Margheri S.p.A will be responsible for the development of the concept, architectural plans, general contracting work and management of the future center. Brokerage services will be provided by Colliers International (St. Petersburg). The construction, consulting and sub-contracting working will be carried out by OAO SK Inzhiniring, Proektirovaniye, Stroitelstvo'.

The project initiators for the Nevsky Coliseum" insist that this innovative shopping and entertainment center will be unique throughout Europe. It will include the structure and arches of the real Coliseum.

About 65,000 will be given over to retail. The two tiers will include about 220 brand stores. The retail gallery will be laid out like famous streets in Rome, Florence and Milan. Several of the upper floors will be given over to a 120-room hotel, multi-plex, business center and conference hall. There center will offer parking for 6,000 cars.

One of the projects key features is the Riviera" leisure zone which will be located in the Nevsky Coliseum" arena (20,000 sqm) under a dome. It will include a Southern seaside complete with beaches and palm trees.

The construction of construction is estimated at |120 million and is to be provided by the Margheri Group. The estimated turnover for the shopping and entertainment center is |300 million per year with a pay back period of 9 years. The Italians plan to start construction in June of this year and open the Nevsky Coliseum" in March, 2008.

/ Source: CRE

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