Foreigners prefer to invest in commercial real estate in Russia
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The volume of foreign investments in Russian commercial real estate in 2007 totaled about $15-18 billion, the regional director of Investment Services Department and Commercial Real Estate Department of Colliers International Maksim Gasiev during the Sixth Adam Smith Institute Annual Summit Real Estate in Russia.
The investment in the commercial real estate in Russia was $15 bn in 2007, or 18% of all foreign investments in the economy of the Russian Federation. In this connection, comparing with the similar index for 2006, which was $ 4.23 bn, the growth totaled about 230-300%, stressed he. According to Gasiev, from the $15 bn of investments in the commercial real estate 60% fall on trade real estate, 23% on offices, 12% on hotels, and 5% on warehouses, informs Appartment.ru.
The investment projects are developing in Russia stably, and if in 2003 average territory of an investment deal was 8-10 thousand sq. m., in 2007, more attractive were projects with an area starting from 25 thousand sq. m., he specified.