Rus News Journal

Investments in a financial hole

the Governor of Petersburg it is ready lobby interests of project Galeria for its end

Crisis can to lead to building proslipping trading - entertainment complex Galeria on a place of scandalous long-term construction at the Moscow station. The investor of the project, London Meridian Capital CIS Fund, affilirovannyj with Kazkommertsbank, has already enclosed in the project of 115 million dollars and has, seemingly, settled own resources. For complex completion it is necessary more than 300 million dollars Fund plans to involve these means from outside and already carries on negotiations with the Savings Bank. Smolnyj promises to lobby credit reception. The complex should open in May, 2010, the companies which are not present yet widely in the Russian market, such as H &M, GAP and Uniqlo become its tenants. However while arrangements with them have preliminary character, representatives of the investor confirm.

Meridian Capital CIS Fund, acting as the investor of one of the largest buildings in the centre of Petersburg - Broadcasting Company Galeria, expects to involve the credit of the Savings Bank for project end. Smolnyj has promised to help with negotiations about a tranche. Yesterday Valentina Matvienko proinspektirovala also has promised building to its investors to address to the head of the Savings Bank Herman Gref with the request to support it in negotiations about reception of proceeds of credit. Thus, according to the general director of the developer of the project of the building company the Breeze Zaretsky`s Novel, there is a risk of that without proceeds of credit building terms can be strongly corrected . If the Savings Bank refuses, we will address in other banks. It would be desirable to involve all sum which is necessary for project end - he has declared. Now this sum exceeds 300 million dollars to Name desirable terms of credit g - n Zaretsky has not wanted. To receive comments in the Savings Bank about it last night it was not possible.

In the project It is enclosed 115 million dollars of exclusively means of the investor. The complex is ready on 15 %. And its total cost is estimated in 450 million dollars About 20 million dollars to us it will be possible to save from - for crisis reductions of prices on building materials - the chairman of board of directors " has declared; the Breeze Ilker Sojlu. As he said, to become tenants of a new complex many known foreign brands which are not presented or a little extended till now in Russia intend. The list almost from 30 names yesterday have shown to the governor. At it are present Swedish H &M (applies for rent of 2 thousand in sq. m in a new complex), American GAP (1 thousand sq.), Japanese Uniqlo (1,5 thousand sq.), and also the Moscow network of supermarkets a premium - a class the taste Alphabet (3 thousand sq.) and the American network of coffee houses Starbucks Coffee (200 sq.). But from - for crisis negotiations were slowed down - has explained g - n Sojlu. To receive comments in the named companies yesterday it was not possible.

Stanislav Bilen, the head of department of floor spaces of Petersburg branch Jones Lang LaSalle (acts as the exclusive broker of the project), has confirmed that large brands, especially foreign companies for the first time entering the market of Russia, show a great interest to a new complex. it is the unique project of superregional scale in the centre of Petersburg. While the retail on the Neva prospectus is rather poor - she considers.

Uchastie Smolnogo in negotiations about crediting of the project of experts does not surprise. a hole in the centre of Petersburg has tired Smolnyj. It is important to city not to admit a project delay for some years - the director for professional work " speaks; Knight Frank St.-Petersburg Nikolay Pashkov. But hardly investors will have time to finish the project by May, 2010. Even if money will be in full volume, real term of delivery of a complex - the beginning of 2011 - has concluded the director of department of consulting and ARIN Ekaterina Markovets`s estimation.

Long-term construction in the centre of Petersburg

Broadcasting Company Galeria is erected on a site by the area of 3,9 hectares at the Moscow station in the centre of Petersburg. It is one of the most scandalous Petersburg long-term constructions, replaced for ten years some investors. Initially on this place of the Russian Open Society High-speed highways planned to construct Transportno - commercial centre within the limits of the project of a high-speed railway line between Moscow and Petersburg. The company has placed under guarantees of the state of the bond, and also has involved the credit of English banks approximately on 30 million dollars But pay off under these obligations could not from - for a default of 1998. As a result under company obligations it was necessary to answer the Ministry of Finance. In 2006 the investor of the project became London Meridian Capital CIS Fund, affilirovannyj with Kazkommertsbank. It has got Open Company controlling interest SK the Breeze (the developer of the project) at the Moscow firm Nafta - the Capital . Genpodrjadchik Broadcasting Company Galeria - Turkish company Rennaisance Construction left on a platform in April, 2008. The complex area the Rented area will make 193 thousand in sq. m. - 93,4 thousand in sq. m. Object will represent a seven-story building, including two underground floors and five elevated. Broadcasting Company structure will include a parking on 1,5 thousand places, bowling, a cinema, restaurants, fitness - the centre and shops