Russian Railways find territory for construction in Moscow
The Russian Railways have signed an agreement with its affiliate ZAO Zheldoripoteka about joint implementation of investment projects in construction, reconstruction and the redevelopment of real estate belonging to the Russian Railways, a joint statement of the companies says.
In Moscow, the projects will be developed in the territory of Voytovich Plant in Shosse Enthuziastov, as well in areas nearby Leningradsky, Savyolovsky, Yaroslavsky stations and between Fili and Setun platforms, reports Vedomosti newspaper.
They in ZAO Zheldoripoteka and in Russian Railways failed to explain where other territories are located as well as what and what amounts are planned to be built in this area, because there are no construction projects yet. Though, the Russian Railways have already announced they planned to build a business center and a mall in the area of 230 000 square meters in the territory of Voytovich Plant. Zheldoripoteka will be the investor.
According to Michael Gets, the managing partner of Novoye Kachestvo Company, overall, no less than 7 million square meters of housing and commercial real estate can be built on 640 hectares. Capital spending sights are about 10 billion dollars. Ilya Shershnev, the development director of Swiss Realty Group believes that if they construct apartment blocks, it can appear about 16 million square meters on this area. It requires $12-13 bn.
According to Shershnev, partners have no reason to involve third party investors into the projects: “Under Russian Railways arrangements we can attract any funding for the development of the projects.”
17:19 04/08/2008
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