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 […]