31 October 2013

TPS Real Estate signs a general contractor agreement for the construction of a mall at Slavyansky Boulevard subway stop

Renaissance Construction has been appointed a general contractor for building a shopping and leisure center at Slavyansky Boulevard subway stop (Kutuzovsky Avenue) in Moscow; a respective agreement has been signed.

TPS Real Estate signs a general contractor agreement for the construction of a mall at Slavyansky Boulevard subway stop

The shopping and leisure center will sit on one of the key thoroughfares of the capital city, Kutuzovsky Avenue, on a 2.6-ha site, within several steps from Slavyansky Boulevard subway stop. The planned gross built area is 140,000 sq m; GLA nears 60,000 sq m; the parking lot has 1,100 car spaces.

The list of tenants includes a grocery supermarket, electronics and home appliances store, kids stuff and athletic gear stores, movie theatre; the shopping arcade will host more than 200 shops as well as trendy conceptual cafes and restaurants. The commissioning is scheduled for Q4 2015. “The mall at Slavyansky Boulevard is our flagship project in Moscow. This will be a comfortable shopping mall that won’t only target the residents of nearby neighborhoods, but also visitors from other districts. The unique location, architectural-functional concept, contemporary popular brands, an extensive range of services, convenient parking – everything will create favorable conditions for absorbing shopping and pleasant pastime,” noted Andrei Dmitryuk, President TPS Real Estate. “We’ve already come to terms with one of the construction market leaders, boasting more than 65 landmark retail projects in its portfolio, and we are absolutely confident that together with Renaissance Construction we’ll be able to deliver a top-level project.” Says President of Renaissance Construction, Mr. Avni Akvardar: “Signing a contract for the construction of a mall at Slavyansky Boulevard subway stop is an important milestone for our company. We attach great significance not only to the irreproachable execution of our contractual commitments, but also to our collaboration with such a strategically important partner as TPS Real Estate. A unique location of the site, concerted effort and experience of Renaissance Construction’s team coupled with the client’s highest professionalism will allow us, in the near future, to bestow upon Moscow one of the best shopping malls of modern times.

TPS Real Estate is one of the most dynamically developing companies in the property management and investment market, founded in 2011. The head office is located in Moscow. The sphere of the company’s activities includes property development, leasing and retail facility management. At the present time the company manages about 1m square meters, including three operational facilities with cumulative floor area nearing 500,000 sq m: Gallery Krasnodar, MoreMall in Sochi and Ocean Plaza mall in Kiev. Under construction now are three other projects totaling about 500,000 sq m as well: Galereya Novosibirsk and two retail projects in Moscow at Slavyansky Boulevard and Polezhaevskaya subway stations. By the end of 2016 the company plans to run 12 shopping centers with aggregate built space nearing 2m square meters.

Renaissance Construction is the biggest foreign general contractor in the Russian Federation and in the Moscow area. The company was founded in 1993 and has built more than 6m square meters of civil and industrial facilities worth more than $6 billion, during 20 years. At the present moment the company’s staff exceeds 25,000 employees, including 1,500 engineers and technicians and more than 200 experts in the design group. The company carries out the construction of biggest retail and business centers, hotels, car plants, facilities of the light and pharmaceutical industries, airports, hydroelectric power plants, cement works, breweries and food industry shops.