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. Last Updated: 07/27/2016

Rosinka to Double in Size, Add a Golf Course

For MTThe suburban development's houses cost from $68,000 to $124,700 a year to rent.
ANGELOVO, Moscow Region -- Rosinka's owners plan to double the suburban development's residential area and start work on a small golf course in the next year.

They say development work on the 54-hectare site in the Krasnogorsk district, northwest of the capital, will soon spread to the last remaining plots.

Anatoly Valetov, Rosinka's director of marketing, said 25 homes were built this year and have already been leased by companies.

"About 60 homes, including some free-standing houses, will be built next year," Valetov said.

In addition, Rosinka plans to renovate the estate's older houses by the end of next summer.

The golf course, which is still in the planning stage, could take up to two years to develop, Valetov said.

Rosinka also plans to construct a small hotel with about 30 rooms for the estate's residents. "Our clients have a lot of delegations coming," Valetov said. "Some companies told us that it would be a pretty good idea."

The complex's more than 200 houses cost from $68,000 to $124,700 per year to rent. The tenants are about 85 percent foreign and 15 percent Russian, Valetov said. They include Western diplomats and executives in multinationals.

Rosinka was started in 1990 as a 50-50 joint venture between U.S. firm Senie Kerschner International Housing Ltd. and the Zavyety Ilyicha, or Lenin's Legacy, collective farm, which was represented by current general manager Oleg Zakharov. The partners fell out, and in 1993 Rosinka was reregistered as a fully Russian-owned joint-stock company. Valetov said Rosinka is primarily owned by its managers.

When Rosinka started it was considered innovative because it offered 24-hour security and property management. Valetov said most of the Russians working for Rosinka have studied or lived in the West.

"Foreign companies ... couldn't organize accommodation for expat families coming here. There were problems with security and the low quality of apartments," he said.

"They were willing to pay for houses that were not built yet, even a year or a year and a half in advance."

Alexander Shatalov, director at real estate firm Intermark, said Rosinka has a very high occupancy rate despite being further out of town than its main competitor, Pokrovsky Hills.

Intermark specializes in placing expats and has represented tenants who have leased more than 100 units from Rosinka in the last three to four years.

For MT

Twenty-five new homes were built this year and about 60 will be added next year.

A golf course would make Rosinka more attractive, Shatalov said. One of the draw cards for Rosinka competitor Le Meridien Moscow Country Club is its 18-hole golf course.

Because it is 24 kilometers from Red Square and beyond the city limits, Rosinka said it had to develop a lot of its own infrastructure. It has a three-story sports center, swimming pool, a gymnasium, bowling alley, tennis courts and its own supermarket. In the last year, an artificial lake for swimming, boating and fishing has been created by damming a local river.

Rosinka residents have access to medical and dental services, state-of-the-art telecommunications and a number of activities. There is a pre-school for the youngest of the settlement's 600 children.

Intermark's Shatalov said Rosinka was planned well. "Rosinka has got very good, functional cottages, the layouts allow large-size families to be comfortably settled in the houses and the fact that they have separate garages and ample storage place," he said.

Pavel Barbashev, senior marketing manager at Pokrovsky Hills, agreed. He said Rosinka has good amenities and because it is a large development, it can offer different types of houses and space them further apart for greater privacy.

Barbashev said that since Rosinka is considerably further away from the city than its competitors -- Pokrovsky Hills, Syetun, Serebryany Bor -- it needs to continue to expand its amenities.

"A good package of amenities, such as a sport center, golf course, summer lake, is a good tool to attract prospective clients," he said. "If Rosinka didn't have these amenities, they would not be able to stay competitive in this market."

Barbashev said Rosinka's weakness is its non-Western management. "Maintenance could be improved," he said.

"Rosinka has a considerable portion of houses that are 10 years old and are not of the best quality," Barbashev added. "It is not the most important point for prospective tenants; however, I see it as a major drawback in the long run."