Former owner of economy-class supermarket network intends to invest $1.5 in a new project

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Accent Russia Opportunity Fund belonging to former owner of Kopeika supermarket network Alexander Samonov, and Ross Group intend to invest $1.5 bn in a new network of shopping malls, Vedomosti newspaper reports.

The parties have signed an agreement on construction of a network of entertainment and shopping centers in ten regions of Russia, Mark Afraymovich, the partner of Ross Group fund, and Victor Shlepov, the general director of Accent Real Estate Investment Managers fund (operates fund Accent Real Estate Opportunity Fund) told Vedomosti.

Ross Group will be responsible for search and selection of territories, and also will be the project’s developer, while Accent Russia Opportunity Fund will be involved in fundraising. Ross Management (is part of Ross Group) will manage the entertaining centre after it starts operating. The area for rent at each object will be about 100 thousand sq.m. on average.

They plan to focus upon cities in the central part of Russia, the Volga region and the West-Eastern Siberia, the partners say. Krasnoyarsk, Omsk, Chelyabinsk, Perm, Ufa, Samara, Saratov, Nizhniy Novgorod, Volgograd, Barnaul, Tomsk and Irkutsk are considered, inform Afraymovich and Ekaterina Romanovskaya, the head of the corporate communications service of Accent Real Estate Investment Managers.

The start of construction of the first three objects is planned for this year. According to Afraymovich, the first area covering 5.1 hectares is now under the registration proceedings in Surgut, where they plan build an entertaining centre in the territory of 80,000 sq.m. Investments into each project will be $100-150 million, stressed Romanovskaya. Overall, the partners are supposed to spend $1-1.5 billion for this network.

Former owner of economy-class supermarket network intends to invest $1.5 in a new project

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