Almost all new insurance products for the Russian commercial real estate market come from abroad. The reason for this is the large number of foreign investors in the Russian market. However, many types of insurance which Western companies would regard as standard are only now being provided by Russian insurers.
Insurance for construction and assembly risks (CAR) is a rather complicated and financially wideopen type of insurance. Under the current conditions of Russia’s booming market, it is still not widely preferred by those in the construction business, who generally do not insure or only partially insure possible risks at a construction site. However, Russians’ traditional […]
Today the demand for insurance on warehouse real estate overall, and particularly on logistics services, is becoming more and more prevalent. Indeed, Western investors, who have started showing interest in the Russian warehouse real estate market, also play a significant role in this. At this time there have already been a number of interesting deals […]
Management companies are inevitable impacted by the risk of property damage and thirdparty personal injury claims. Specialists are unanimous in their view that management companies must take out civil liability insurance.
Public officials say the Urals region is breaking records in Russia for construction rates. About 3 million sqm of housing alone were commissioned in 2007, to say nothing about large industrial and commercial properties. Along with positive indicators, the construction industry abounds in legal offenses and, as legal practice shows, contractors are the most disfranchised […]
The format of super-regional center, covering 100,000 sq.m. is one that many developers of commercial real estate have embraced. Here it is possible to place a large number of various tenants successfully – thus scaring off any potential competition. Yet, especially in regional centers today, there is a situation where, because of a deficiency in […]
The shortage of development land in the center of world capitals is driving redevelopment. Thus they redevelop docklands in England into business centers, and in America they regularly redevelop industrial buildings. Petersburg-based experts are studying Western experience and applying it to local problems. For all that, the success of every project where the developer counts […]
In the context of real estate, corporate services are defined as the formulating and implementing of real estate strategies for end users so that they can maximise the returns from investments in human, business procedures and technology . A natural part of corporate services is tenant representation, which is the consultation of tenants in the […]
A comprehensive program to develop underground territory in St. Petersburg by 2025 is underway in the city, and, to this end, City Hall intends to cease distributing land plots for construction to investors whose plans do not envisage the development of subsurface territories. Developers are already talking about how these plans will cause the cost […]
The Russian market for retail real estate is going through a period of active growth which, by various estimates, will continue from three to seven more years. Already we can speak about major development in several basic areas. The display cases at the well-known local store, “Ye Olde Commercial Real Estate Shoppe,” contain several interesting […]
Due to the peculiarities of Russian law, which does not permit the alienation of real property until it is officially registered, the use of pre-lease agreements prior to property delivery has become standard practice. The contractual relationships must therefore be set out in the Pre-lease, which should cover all possible situations, should there be any […]
According to market experts the construction cost of 1 sqm of built-to-suit is about equal to five years’ worth of rental payments. Moreover, constantly increasing rental rates and market value means that built-to-suit is becoming an extremely financially attractive option for firms seeking new office areas.
An industrial park (IP) is a complex with production, warehouse and office premises located typically outside the city on a large land plot and is occupied by the representative offices of various business types, from large to small, and is combined via an integrated solution for utility services and transport infrastructure. An IP is not […]
The influence that transportation infrastructure has on the development of the real estate market cannot be doubted, as it is a major factor in market players’ favorite mantra “location, location, location.” The geographical locations of Moscow’s retail centers would have been completely different if it hadn’t been for the MKAD. Likewise, the market of office […]
Today on the commercial real estate market a substantially new business procedure has appeared for leasing nonresidential property in newly constructed buildings. Indeed, this new procedure allows an owner and a tenant to formalize their business relationship legally even before the official documents for the ownership title have been received. Consequently, given the sharp deficit […]
The Seventh Urals Investment Forum was held near Miass on the Turgoyak lakeside in December 2007. The investors invited to the forum could see with their own eyes how attractive the Chelyabinsk region is. Lake Turgoyak, within the Miass municipal district, is called “The Pearl of South Urals.” Its unique location favors the tourism business. […]
The liquidity deficit currently affecting Kazakhstan’s financial sector has had a significant impact on the country’s real estate market, with the retail sector particularly affected. Investors have begun exiting the developing market, while rating agencies are lowering the country’s sovereign and corporate credit ratings.
Although it was predicted in the last century that cinema as an art form would disappear and be supplanted by television, it is now possible to confidently state that despite the advancement of home entertainment technology, going to the movies still remains a popular pastime. As such, it is no surprise that the construction of […]
A seasoned observer of Russia’s retail real estate market knows that the country has been experiencing economic growth across the board over the past several years and this factor has influenced positively the country’s citizens. Even though overall prosperity may not seem apparent in mid- and small-sized cities, the buying power of Moscow’s population is […]
The main sectors of the Perm real estate market have entered the stage of robust development. The Perm Territory boasts developed industries and large-scale export-oriented concenrs, which, coupled with high purchasing power of the local population, makes it a very attractive region for various commercial developments.
Vyborg is one of the largest cities in the Leningrad Region. However, the commercial real estate market of the former capital of western Finland has not developed enough to allow the city to lay claim to the position of an international business center on the Russian and Finnish border.
The capital of Karelia, Petrozavodsk, is not only of interest to tourists today, with their boats, fishing poles and cameras. Indeed, the flagmen of commercial real estate, retailers, have begun active development in the city. However, although the municipal authorities welcome investors with open arms, according to market-specialist estimates, the city’s attractiveness is decreasing because […]
For a number of years, the most common type of warehousing real estate on the Russian market was the re-profiled factory shop – cold, dusty, and populated by loading dock workers in quilted jackets probably a little too thin to keep them warm. Such facilities are still in use today, of course, but now this […]
The Novosibirsk market of commercial real estate rouses the interest of both local, national and multinational players. Developers duly appreciated the stable growth of prices and market potential. Large-scale projects are being implemented in all real estate segments. Shopping and retail-entertainment centers ensure maximum yields but experts point out that warehouse and hospitality complexes also […]
The commercial real estate market of Krasnodar is notable for two main characteristics. First of all, local developers of retail properties are better at building entertainment centers than their colleagues in other regions. And, secondly, because of the upcoming Winter Olympics of 2014 hotel construction is switching into high gear.