 | Our 1st investment, on Nevsky Prospekt, was acquired in 2004 and sold in November 2006.
The 2nd investment Fontanka 13 (Business centre Oscar) is on the Fontanka river embankment at one of the prime locations in St. Petersburg. This top-class office building is now fully let, housing several international companies.
Ruric has recently entered into a divestment transaction for its 7 000 sqm Grifon House office building on ul. Dostoyevskovo 19/2. A large international property investor will assume ownership, following Ruric’s completion of a building extension during Q1 2008.
Our 4th property investment was on 9th V.O. Line 34 (Business centre Magnus), on Vasiliev Island, where renovation work was completed during Q4 2006 and the business centre is now fully let.
At Sredny Prospekt 36/40 (Business centre Gustaf), also on Vasiliev Island, the 7-floor building is fully let, with a retail tenant on the first two floors and international companies as office tenants on all other floors.
Our 6th investment are in two buildings at a very busy city centre market place, Apraksin Dvor. Ruric’s objective is to be a leading developer of the whole area, converting it into a modern attractive shopping and leisure destination for a wide group of consumers.
In the spring of 2006, we acquired the development rights to a 3-hectare large area – Moika emb. / ul. Glinki / ul. Dekabristov - with 47 000 sqm of current building area, which after rebuilding and extensions is expected to amount to around 150 000-200 000 sqm. Demolition works and excavation of the Moika/Glinki property is expected to begin during Q2 2008.
The 8th investment was conducted in August 2006, through the acquisiton of a long-term lease contract in buildings at Fontanka 57 along the Fontanka river in central St Petersburg. After extensive rebuilding and extension, estimated to last until 2009, we will offer around 27,000 sqm distributed between offices, shops and a car park.
Several other investments are being considered and we expect to be able to provide more details in the near future. Ruric is continually seeking additional investment opportunities. |
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