News

DHL delivery service has leased 725 sqm of office space in the Khimki business park being built by Swedish retailer IKEA. The length of the lease contract has not been disclosed. / Source: Commercial Real Estate
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The Russian management company Maxima Hotels in mid-April opened its third hotel under the Maxima brand name, Maxima Slavia, which arose from the former Slavia hotel, following Maxima Hotels having taken ownership of it. The amount of the deal and volume of investment in the hotel’s reconstruction have not been disclosed. / Source: Commercial Real Estate
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Sistema-Hals’ revenues for 2006 increased two-fold vis-a-vis 2005, reaching $283 million, as reported by Felix Evtushenkov, company president, during a press conference held to report the company’s 2006 financial results. / Source: Commercial Real Estate
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The Northern Lights business center, whose construction was completed at the beginning of May last year, was fully leased out in April of this year. / Source: Commercial Real Estate
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PricewaterhouseCoopers has signed a contract to lease 32,500 sqm of office space in the class A Belaya Ploshchad business center. Lease rates have not been disclosed; however, Paul’s Yard specialists believe the rates in Belaya Ploshchad could reach $560/sqm per year, excluding VAT and operating expenses. / Source: Commercial Real Estate
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British fund Raven Russia and Turkish developer and logistics operator EGL Holdings are starting to build an A-class logistics complex for which the partners have created a joint venture. The consultant for the joint venture’s creation on the part of Raven Russia is Jones Lang LaSalle. / Source: Commercial Real Estate
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The Belaya Dacha group of companies plans to open about 20 garden hypermarkets throughout Russia. This was announced at the presentation of the first garden center on 29th March by Viktor Semenov, chairman of the Board of Directors of Belaya Dacha. / Source: Commercial Real Estate
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Knight Frank and Eurasia Logistics have signed the first lease deal at Northern Domodedovo. The contract is for 20 years. / Source: Commercial Real Estate
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At the end of March, Swedish retailer IKEA, which is building the Khimki business park, presented its project to the business community. / Source: Commercial Real Estate
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On April 6, a fire ravaged the building Ducat Place, located at 6 ul. Gasheka in the center of Moscow. The firemen involved in the case reported that the alarm went off at 14:08. The fire began on the second floor of the Ducat and subsequently rose up the building. As a result, around 300 sqm of the roof caught on fire and collapsed. / Source: Commercial Real Estate
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Growth in lease rates for office real estate are not expected to stabilize sooner than 2010, as forecasted by Cushman & Wakefield Stiles & Riabokobylko at a presentation dedicated to reviewing the major trends and development prospects on the office real estate market in Moscow and the regions. / Source: Commercial Real Estate
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Deutsche Bank and Strabag have announced the creation of the DB Development joint venture to complete and finance large development projects and develop infrastructure. / Source: Commercial Real Estate
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On the site of the existing Sheremetyevo hotel, a multipurpose complex will appear built by the company Hotel Complex Sheremetyevo-2. / Source: Commercial Real Estate
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MIAN has announced a new direction for the company: Entertainment Operator (EO). Accordingly, MIAN will develop entertainment complexes and restaurants, and Sergei Kalinovky, will manage the points of interest. / Source: Commercial Real Estate
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Shortly in Mytischi a 125,000-sqm mixed-use complex will appear. Praedium is the exclusive project consultant, while the owner and developer of the project is a little-known company on the market with a catchy name, Stroiotryad #6, which has obviously been established specifically for this facility. / Source: Commercial Real Estate
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M.O.R.E. Moscow Real Estate has begun construction on the second phase of the Pavlovsky business center located near the Serpukhovskaya subway station, on Pavlovskaya St. The overall size of the building is 18,500 sqm, of which 11,670 sqm will be aboveground. The amount invested in construction is $30 million. / Source: Commercial Real Estate
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Prime City Properties has joined the Association of European Business in the Russian Federation (AEB), which is designed to promote the interests of European companies, improve the business and trading climate in the Russia, and likewise facilitate integration and partnerships between Russia and the European Union. / Source: Commercial Real Estate
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The Russian and German furniture company Art Style Mart-Mebel Russland has signed a 10-year contract to lease 12,500 sqm in the Pushkino Logistics Park. / Source: Commercial Real Estate
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The final list of nominees for the Commercial Real Estate Awards 2007 has been determined. Indeed, from March 5-21, a jury used a 10-point scale to evaluate commercial real estate facilities online, basing their selections on detailed descriptions of the nominated facilities, photos, floor plans and land plots. / Source: Commercial Real Estate
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The period of chaotic construction on the Russian retail real estate market has passed, given that shopping centers are being constructed today for long-term and proper use, thus necessitating thorough concept development and intelligent completion as well as the professional management of a finished building. / Source: Commercial Real Estate
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