Commercial real estate is still ahead of Europe
Luja will build 7 concrete plants in St. Petersburg
There is no place to build in the Kirovsky district
Construction of the Northern Valley will begin from the Parnas metro station in June 2009
New horizons of the Zanevsky settlement
Commercial real estate is still ahead of Europe
According to ASTERA St. Petersburg, according to the results of the first half of 2008, the profitability of the commercial real estate market in St. Petersburg exceeds the indicators of the capital and European markets. If in Central Europe capitalization rates vary from 4 to 5.5%, in Eastern Europe - within 5.5-6.5%, in Moscow they are at the level of 8-9%, then in St. Petersburg the profitability of the commercial segment is up to eleven%.
The most active foreign players in the real estate market in the first half of the year were Scandinavian and Western European investment funds and development companies, such as IKEA, Ruric AB, Wenaas Holding, Sponda, Stockmann Oyj Abp, SRV Group, Meinl European Land, Tilman Kraus Property Group, Fleming Family & Partners (FF&P), Immoeast, Ovental Investments, Ahlers.
Popular ways to invest are purchasing a ready-made property and joint participation in a project with a Russian development company.
Until now, the main factor hindering the influx of foreign investment in St. Petersburg real estate was considered to be a shortage of quality projects put up for sale and meeting the high requirements of investors.
In addition, the price at which investors were willing to buy the properties still did not suit their owners, as a result of which the high demand remained unsatisfied. The funds were unable to spend the announced amounts of funds due to the lack of supply of quality commercial properties at a competitive price. Now the situation has changed - according to experts, the international financial crisis has reached St. Petersburg developers. Companies "Adamant", Ruric, "Teorema" and others offer commercial real estate for sale. Developers intend to use profits from the sale of operating business centers (BCs) for new large-scale projects.
Thus, there are much more high-quality large-area properties for sale this year than last year. But there are few deals yet, as they are moving slowly. According to experts, the results will be visible within six months.
The main criteria for making a decision to invest in real estate are the profitability and transparency of projects, as well as the presence of an experienced partner and his successful experience in implementing projects. Based on these parameters, this year foreign investors plan to direct their funds to the retail and office segments. Warehouse real estate, despite the highest profitability, is of less interest to developers, which is explained by the large number of announced projects.
Capitalization rates continue to decline in the commercial real estate market. As the market becomes saturated, experts predict a further decline in the return on investment in commercial real estate. The reasons for this trend are the qualitative and quantitative growth of commercial real estate in St. Petersburg, the rapid rise in land prices, outpacing the growth rate of rental rates, as well as an increase in construction costs, including due to the increasing demands of tenants.
However, the decline in profitability of commercial real estate is gradual: over the past four years, capitalization rates across all real estate sectors have fallen by an average of 2.5 percentage points annually. Therefore, in the future, it is expected that the number of foreign players making transactions with commercial real estate will increase, and large conservative investment funds that are not yet represented in Russia will enter the St. Petersburg market. In addition, the liquidity crisis in global financial markets and the fall in the profitability of foreign real estate may become an additional incentive for new investors to enter the St. Petersburg market.
Elena Korsunskaya

Construction materials
Luja will build 7 concrete plants in St. Petersburg
Luyabeton LLC, a subsidiary of the Luja concern (Finland), intends to build 7 ready-mixed concrete production plants in St. Petersburg within two years. As the general director of the company Andrey Shadrin said, the company has currently built 3 enterprises in the industrial zones of Polustrovo, Kolomyagi and Gorelovo.
The head enterprise of Luyabeton LLC is located in the industrial area under construction between Umansky Lane, Anisimovskaya Road, Lapinsky Prospekt and Polyustrovskaya Road. The plant occupies an area of 1.8 hectares, of which 1 hectare is currently in use. The plant's capacity is 120 cubic meters. m of concrete per hour. According to Mr. Shadrin, in autonomous mode the plant can produce 3 thousand cubic meters. m of concrete.
The production of the first batches of concrete for our own needs began in March 2008. Since the end of May, the plant began commercial sales of ready-mixed concrete.
Sob. info

Territories
There is no place to build in the Kirovsky district
The Kirovsky district of St. Petersburg has exhausted its supply of housing sites and is preparing to renovate built-up areas. From 1995 to 2008, almost 1.14 million square meters were built in the Kirovsky district of St. Petersburg. m of housing. As a result, the housing stock increased by 17.3%. This was announced at a meeting of the board of the district administration in a report on the prospects for the construction and reconstruction of the housing stock by the head of the construction and land use department of the district administration, Nikolai Kolosov. Currently, the construction of housing in the district is being completed in block 10 Dachnoe, between Leninsky Prospekt, Stachek Avenue and Solomakhinsky Lane (developer - LEK LLC); in block 2B Ulyanka (developer - OJSC "ART 'Dachnoe'"); on Dachny Prospekt at house 17 and Leninsky Prospekt at house 110, building 1 (developer - Zhilstroyinvest LLC); on Avtovskaya street, 15/3 (HOA "Avtovskaya 15/3"); on Veteranov Avenue near house 36 (JSC "M-industry"); on Marshal Zhukov Avenue at the intersection with Soldat Korzun Street (ZAO LenSpetsSMU); in block 3B Ulyanka, near the Alexandrino forest park (Warrior LLC); in block 4B Ulyanka, near Soldata Korzuna Street (MonolitKirovStroy LLC). A residential building is being built on part of the former territory of the newspaper complex on Leninsky Prospekt. Upon completion of the resettlement, there will be reconstruction and demolition of residential buildings on Dvinskaya Street, 8, buildings 2 and 3. It is planned, at the expense of the St. Petersburg budget, to construct a residential building with a built-in rehabilitation center for the disabled at the address: Marine Corps Street, 12.
However, the situation is such that today there are no free spaces for housing construction in the Kirovsky district, Mr. Kolosov said. According to him, for several years the city and district authorities have been trying to find acceptable ways to solve the housing problem for residents of the first mass series of houses - “Khrushchev” (612 buildings) and “German” cinder block houses (more than 240). The costs of operating these houses are unreasonably high and are growing steadily.
As Mr. Kolosov noted, today residents of the area have a lot of questions related to the upcoming implementation of the development program for built-up areas. There is no experience in St. Petersburg with mass resettlement of houses yet, so investors are looking at the preparation of auctions with concern; there are still few people willing to take part in them.
In September 2008, 2 blocks in the Kirovsky district from the targeted program for the development of built-up areas will be put up for auction. This is block 5 Dachnoye, bounded by Leninsky Prospekt, Narodnogo Opolcheniya Avenue, Schastlivaya Street and Innovator Boulevard, and block 2A Ulyanka, bounded by Leni Golikova Street, intra-block passage, Alexandrino Forest Park and Stachek Avenue. All the documentation necessary for this is already ready.
In block 5 Dachnoye there is a spot for the construction of a “pilot” residential building to begin resettling the residents of the block. This is the site where today the construction committee is preparing to demolish two resettled "Khrushchev" apartments. And for the 2A Ulyanka block there is a proposal from a potential investor - Voin LLC - to resettle the residents of the first Khrushchev-era buildings to be demolished into a finished residential building located on the border of the block, near the Alexandrino forest park.
ASN-Info
Construction of the Northern Valley will begin from the Parnas metro station in June 2009
In the eastern part of the territory of the new complex development "Northern Valley" in the Vyborg district of St. Petersburg, in addition to housing, several schools and kindergartens, children's and adult clinics, an ambulance station, a fire station, and a police station will be built.
The development of the site, designed for 70-75 thousand residents, provides for the development of trade and household infrastructure. In particular, it is planned to build a shopping and entertainment complex with an area of 40 thousand square meters near the Parnas metro station. m. It is from here, from block #15, that the construction of multi-storey residential buildings will begin. This was discussed today at the hearings of temporary development regulations #08/2458, held in the Pargolovo municipality.
The customer is the VRZ-territory limited by the 9th reclamation canal, the border of the land plot of the Ring Road interchange and Engels Avenue, the Engels Avenue route, 3rd Verkhny Lane, the northern border of the land plot of JSC Prigorodny, the 11th channel, Starozhilovskaya Street, Vologdina Street , Olginskaya Road and Novaya Street (Klimovets gardening), was performed by Glavstroy-SPb LLC, the St. Petersburg branch of Glavstroy OJSC, part of the Basic Element group.
Glavstroy-SPb won the competition for the right to comprehensive development of an area of 296 hectares at an auction in the city Property Fund on May 23, 2007. The initial price of the lot during the auction increased 11 times. Glavstroy acquired the development right for more than 7.07 billion rubles, which amounted to about 2,400 rubles per square meter of territory. For comparison, the right to develop a territory of 437 hectares in Konnaya Lakhta cost the same company 1 billion rubles.
ASN Info

Logistics
New horizons of the Zanevsky settlement
Horizont LLC will create a logistics complex worth 200 million rubles in the Vsevolozhsk district of the Leningrad region, reports the press service of the regional government. The facility will be built in three stages on the territory of the Zanevsky rural settlement (Yanino-Vostochny massif). Construction of the first stage (two buildings with a total area of 14 thousand sq. m and a cold warehouse with an area of 1.5 thousand sq. m) will cost the investor 80 million rubles. The scope of activity of the enterprise is the organization of logistics processes, and in particular, the distribution of an industrial group of goods for the installation of engineering systems (equipment for ventilation, air conditioning, heating, water supply, gas supply, electrical equipment, etc.). The planned productivity of the logistics complex is 50-60 thousand tons, or about 100 thousand europallets per year. The complex will be serviced by up to 40 workers. The interdepartmental commission on the deployment of productive forces agreed on the project.
Sob. inf.

Newspaper "Kommersant St. Petersburg" No. 135/P dated 08/04/2008

CONTEXT – Kommersant St. Petersburg