Articles by Yekaterina Dranitsyna



Criteria Proposed for Office Center Grades

Three international real estate consultancies have presented new criteria for the classification of office centers, recommending that the system be implemented to ease communication with clients and partners.

Underground Work a Hazard in St. Pete

Underground car parks and shopping centers planned for the center of St. Petersburg could damage adjacent buildings, experts warned last week at a roundtable, calling for a cautious approach to preserve the city's architectural heritage.

Developer to Invest Billions in St. Pete

Hungarian property developer TriGranit Development has announced that it will invest $2 billion to $3 billion into new premises in St. Petersburg, including the construction of a shopping and exhibition complex.

Elite Real Estate Prices Outrun Credit Crisis

Although the U.S. and European credit crunch and ensuing fund market crisis have slowed the growth of global real estate prices, a sharp increase in prices has been registered in developing countries, according to a Knight Frank survey.

St. Pete Projects Go on Show in Cannes

A delegation of St. Petersburg officials and businessmen will demonstrate the city's largest development projects at the MIPIM international forum for real estate professionals and investors, which opens Tuesday and continues through Friday in Cannes, France.

Becar Planning Huge Business Center

Becar Realty Group has acquired unfinished production facilities in the Nevsky district, which the company plans to reconstruct over the next seven years before opening the largest B-class business center in the city.

St. Pete Site Counts on Neighbor

A new housing complex expects to benefit from being near the Okhta tower.

St. Pete Factory Gets a New Lease on Life

Arsenal, one of the oldest industrial enterprises in St. Petersburg, is planning to turn its former factory into a multifunctional business center in a project that will cost $100 million to $150 million, the company said in a statement.

Furnishings Retailer Prepares for National Expansion

ST. PETERSBURG -- Laventa, a St. Petersburg-based company that operates home furnishing supermarkets under the SantaHouse brand, announced plans last week to become a nationwide retailer over the next few years.

Sokotel Plans to Open 5 Outlets in St. Pete's

Finnish hotel operator Sokotel plans to build five new hotels in the center of St. Petersburg over the next six years, the company announced last week in a statement.

St. Pete Plans Sale of Over 40 Large Plots

St. Petersburg city government plans to auction off over 40 large plots of land in several of the city's districts starting January.

RBI Announces Plans for $500M Spending

RBI holding company plans to spend $500 million on acquiring land plots in the country's regions over the next two years, a senior company official said at a news conference last week.

Explosion Severs Northern Pipeline

  • 27 July 07
  • Staff Writers
A powerful explosion hit a gas pipeline north of St. Petersburg early Thursday morning, rattling buildings up to five kilometers away and setting off a giant blaze that lit up the dark skies.

Builders Act to Keep Residents Informed

ST. PETERSBURG - In a bid to appease disgruntled residents, a number of St. Petersburg's construction firms announced plans Wednesday to formulate a coordinated strategy for keeping the public informed about new building projects.

Clover Unveils Plan for New Complex

ST. PETERSBURG - A $500 million multifunctional center is to be developed by Clover Group on Ushakovskaya Naberezhnaya in St. Petersburg, company representatives said last Tuesday at a news conference.

St. Petersburg Gets Its First IMAX Cinema

ST. PETERSBURG -- St. Petersburg's first IMAX cinema complex will open April 26 in the KinoStar City entertainment center, the entrepreneurs and investors behind the project said at a news conference last Tuesday.

Morgan Stanley Purchases Stake in RBI

ST. PETERSBURG -- Morgan Stanley Real Estate announced at a news conference Wednesday that it had acquired a 24.99 percent stake in the RBI construction holding.

Bank Petrovsky Will Be Focus of Complex

A 25-floor office building for Bank Petrovsky is planned as the focal point of an A-Class business center comprising 150,000 square meters of office space to be completed by 2012, developer Setl City said in a statement.

Hotel Group Unveils St. Pete's Plaza Hotel

The InterContinental Hotels Group has announced plans to develop a new hotel in a historic building in the center of St. Petersburg.

Finns Outline Project for Spa Hotel

Finnish company S Group will open a five-star spa hotel on Vasilyevsky Island in St. Petersburg this summer, company CEO Juhani Jarvenpaa said Tuesday.

City Mortgage Bank Eyes Regional Boom

Mortgage volume at St. Petersburg's City Mortgage Bank increased to $300 million this year, managers said Wednesday at a news conference to announce their regional expansion.

Finnish Furniture Firm Enters St. Pete

Vepsalainen, the largest design furniture store chain in Finland, opened its first Russian store late last week and presented plans to give Swedish rival IKEA some competition by opening nine more over the next two years.

Revenue Growth Attracts YIT

Finland's largest construction company, YIT, has set out its plans to tap Russia's real estate boom.

A 'Spaceship' to Land in St. Pete

St. Petersburg has chosen a Japanese-designed ""spaceship"" as the new home of the city's beloved football team, Zenit.

Primorsky District's Makeover

One of Scandinavia's largest construction companies, NCC, is cooperating with local investment and construction firm Petropol to build a large-scale multifunctional complex in St. Petersburg's Primorsky district, the companies said a statement.

St. Pete Hopes for a Real Estate Miracle

With the aid of an amended law on land distribution, the construction industry is hoping to stimulate the St. Petersburg residential market, which faces both a deficit of new projects and surging real estate prices.

Finns Looking to Carve Out Opening in Market

Entrepreneurs in Finland's Koli region have confirmed their intention to attract both Russian investors and tourists through a series of large-scale developments.

Construction Begins on St. Pete's IT Park

The construction of Russia's first information technology park, part of a government program to develop the nation's high-tech industry, officially began last week in St. Petersburg.

St. Pete Building Firms Facing Crisis

Local construction companies face an imminent crisis if they continue to be overlooked in the lucrative market of foreign-investment projects, industry experts say.

Acclaimed Architect to Transform Island

The controversial 30-year saga of the redevelopment of one of St. Petersburg's most mysterious sites -- New Holland Island -- finally came to a close last week when St. Petersburg Governor Valentina Matviyenko announced that a plan by British architect Sir Norman Foster would be adopted.