Development of small shopping centers anchored by a large food retailer in the large residential areas outside major cities of RussiaThe Business
The Company plans to develop small shopping centers with a basic design: one story anchored by a large food retailer, located outside the city but in a high density residential area. The focus will be on major Russian cities with population in excess of 1 million people.
Each shopping center is expected to cost approximately $30 million with a required equity contribution based upon a hypermarket shell and a small shopping gallery. The first project will be developed stand alone. The Company then plans to organize an investment fund that will develop further shopping centers that will follow a similar format.
Demand for adequate retail premises from international retailers continues to increase as most of them are still bullish on the Russian market. In recent years much of the focus of real estate development has been on large malls, but there is still inadequate demand in many high density residential areas outside of Moscow and other major cities of Russia.
The fund will be run by a strong management team that has outstanding knowledge of the requirements of international retailers as well as international real estate investment. The team also has excellent finance experience and a local market presence and development expertise.
Sector: FundsSegment: Real EstateRegion: RussiaFinancing Size: $1m to $5mContact: Philippe Der Megreditchian
Company: OLMATelephone: +33 6 03 88 30 13Email: [email protected]