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The LSR Group will build a commercial real estate complex USD 860 million worth

24 April 2007

The area of the land plot for the project implementation is 7.3 ha; the total floor space of all premises under construction makes 340 thousand mІ. «According to our plans, class A+ offices will occupy up to 70% of the new complex territory, the rest will go to trade and entertainment objects like shops, restaurants, and a fitness center,» — Georgy Bogachev, Deputy Director General of the LSR Group, told. According to him, 90% of the plant buildings will be destroyed; on the place of those, LSR will construct seven- and eight-floor buildings and a 75-meter tower (height of the nearby television tower is 310 meters). Besides that, the Company will restore one building, a monument of industrial architecture, and also will maintain a monument dedicated to the plant employees who fought in the Great Patriotic War. An international team of architects will project the complex: German architect Sergey Choban and Petersburger Yevgenyi Gerasimov. Sources of funding will be both internal and borrowed assets of the LSR Group; the supposed amount of project investments is $860 million. By the way, it was just recently that the Company announced its successful attracting of a 5 billion ruble loan from Deutsche Bank AG, London. This loan became the biggest bank loan ever drawn by a Russian construction company. The LSR Group became owner of the control packet of shares of OAO Zavod Electrik (Electrik Plant) in 2006. The LSR Group's investments helped the plant to optimize its already going process of production capacities transfer and start-up a new developer project in the released territory. Presently, the market-demanded plant capacities have been successfully moved to Kikerino Township in Volosovskiy Region, where the plant has an additional industrial ground. The enterprise rents out its other industrial ground in the Parnas industrial zone. «This a natural and positive logics of a megapolis development: to place production facilities beyond the city borders and implement new projects of apartment and office buildings in the city territory — to adorn the city and not to contaminate its environment,» — Georgy Bogachev is assured.

«LSR Group» discloses information on the page on the Internet of LLC Interfax-TsRKI — the news agency accredited by the Central Bank of the Russian Federation to disclosure of information.
Information is available here.



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