Real Estate


Q3 2008

Appointments

  • September 01, 2008

Gold Coast Top Spot for Russian Investors

  • September 01, 2008
Australia's long sandy beaches have long tempted travelers from around the world, but it is no longer just sun, surf and sand luring Russians 'down under'.

Sun, Sea and Dunes

  • September 01, 2008
A long sandy bay, sunbathers in swimsuits and horses on the beach _ no it's not Egypt, Turkey or even Sochi. This is Pionersky on the Baltic coast of Russia's Kaliningrad region. Along with the neighboring towns of Svetlogorsk and Yantarny, Pionersky is part of the 100 kilometers of sandy coast on the Russian Baltic, which includes the UNESCO-listed Curonian Spit national park.

St. Pete Scene

  • September 01, 2008

Opening Up Belarus

  • September 01, 2008
An isolated country, hostile towards the outside world, with a Soviet throwback of an economy based on heavy industry _ such is usually the popular conception of Belarus in the outside world. Whilst it's true that the country is heavily reliant on manufacturing, refining imported oil and the chemical industry, recent developments seem to indicate that an economic liberalization process is under way. With Russia intent on raising oil prices to world levels in the next couple of years, Belarus is looking at other sectors to support and drive its economy.

Sistema's Strategizer

  • September 01, 2008
If you follow news of the Russian realty market, you can't pos-sibly miss Sistema-Hals. They're one of the biggest operators and they are involved in projects across the board, from residential developments to major works of civil engineering. If you follow Russian companies on the stock market, you'll also know Sistema-Hals _ they were one of the first developers to conduct an IPO, back in November 2006. Even the man on the street in Moscow will know Sistema's projects, even if he can't straight away name the company behind them _ they're involved with bringing into the 21st century some of the city's best known landmarks, such as the hotel Peking and the Detsky Mir department store. Sophie Cooper talks to Yevgeny Kolodkin vice-president of strategy and corporate development at Sistema-Hals about the company's wide business spectrum and finds out where it's going to go next.

Whither IPOs in RE?

  • September 01, 2008
"Right market, right time" — that's Jerry Oates's assessment of the success of the recent wave of IPOs in Russia's real estate sector. The managing director of Knight Frank Russia explained that the IPO was a strategy specific to a particular time for various companies that had got to the point where they were ready for it. IPOs have been the buzzword of the Russian real estate market for the last couple of years and any reports of a new company planning to take the plunge are hot news. But many market players are likely to hold back from cashing in on public offerings for the time being. "I think that when the market comes back there'll still be more companies ready for it," added Oates. So, with the current financial uncertainties continuing and IPOs off the menu, for a while at least, what has the recent trend brought to Russia's real estate market?

Tenant Rights Issues

  • September 01, 2008
It is a widely and strongly held view that tenants do not have sufficient recourse in law to be able to protect their rights if they are infringed. But we only consider this to be true in cases when a lease agreement is concluded without both sides clearly and fully setting out their rights and responsibilities, the duration and cost of the contract, as well as what the possibilities are for extending its duration and changing the cost.

Hotel-Office Synergy

  • September 01, 2008
As more and more companies look for quality office space beyond Moscow's historic center _ nominally referred to as the area within the Garden Ring, although generally it now includes the area inside the Third Ring Road, too _ they are increasingly taking the proximity of affordable brand hotels into consideration. With hotel rates in the center reaching as far as $1,000 per night, it's no surprise that renting an office in a location where guests can be conveniently accommodated nearby will gain popularity as a solution to this problem, given the movement of businesses and hotels away from the center.

Building on Brownfield

  • September 01, 2008
Developers often complain that there aren't enough places left to build in Moscow. 'You're not looking hard enough,' reply city government officials and well connected real estate magnates. "You can't imagine how much more could be built in the city _ there are loads of industrial sites, for example," said CEO of Inteko Yelena Baturina in an interview to Vedomosti published in November. So-called brownfield developments are well established practice in Europe, but this approach is still in its infancy in Russia. So is it working here, and what do developers doing brownfield projects say about their experience? In short, is it something they'd recommend to other market players?

Sochi: One Year Later

  • September 01, 2008
The International Olympic Committee's decision a year ago to grant Russia its first winter games touched off a real estate boom in the Krasnodar region. Despite its currently underdeveloped infrastructure, Sochi is destined to become a year-round sports destination on a par with world-renowned resorts such as Courcheval or Aspen. By the year 2015 the city should be attracting 8 million tourists each year said Alexei Khraban, deputy mayor of Sochi, Vedomosti reported in March _ a sharp rise from the current figure, which is estimated at 5 million.

News in Brief

  • September 01, 2008

Editors' View

  • September 01, 2008
It sounds a bit too like the sort of terrible cliche usually spouted by an elderly relative to say that we can't believe it's already over a whole year since Sochi won its bid to host the 2014 Olympics, but it really is the case.

What's Up?

  • September 01, 2008
Q3 2008
Q3 2008
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