Construction financing for a new mall from a very successful and rapidly growing hypermarket and supermarket developerThe Business
The Company is a multiformat Russian retail chain that develops its own brand of hypermarkets and supermarkets. The Company has been rapidly growing, exceeding 70%, and trading space exceeds 200k square meters. The Company has several dozen locations including hypermarkets and supermarkets
As part of its development program, the Company is planning to open a shopping center in Moscow at the end of 2011. The project is located on the Moscow Automobile Ring Road (MKAD), which encircles the city. The shopping center will be anchored by a Company hypermarket and a major European electronics and household goods retailer and will have a total of more than 20k square meters GLA. The project will benefit from an adjacent retail park with other major tenants that currently attracts over 18 million visitors each year.
Market
The hypermarket will offer premium quality space and environment (in comparison with the adjacent competition) that will provide a pleasant shopping environment with retail galleries centered around a plaza. Commercially, the center will focus on fashion, multimedia and children. Forecast project turnover is €330 million.
Construction is expected to start by September 2010, with an opening expected in November 2011.
The Company is the full owner of the site, and its board is committed to finance the preliminary phase of the project through the start of construction. The Company is looking for a partner to provide site construction financing.
Sector: Real EstateSegment: CommercialRegion: RussiaFinancing Size: More than $100mContact: Philippe Der Megreditchian
Company: OLMATelephone: +33 6 03 88 30 13Email: [email protected]