Retail Facility Planned for Moscow Region

A 42,000 square meter retail facility is planned for the Moscow region, GVA Sawyer said in a statement.

The 12 hectare site is located 51 kilometers east of the Moscow Ring Road on Gorkovskoye Shosse, between Noginsk and Pavlovsky Posad. The project will cost about 1.5 billion rubles to build ($48 million), have a return on investment period of 6.5 years and be complete by the end of the first half of 2014.

According to research by GVA Sawyer, there is pent-up demand for such a facility, with more than 425,000 people living within 30 minutes of the site.

(MT)