Finnish SRV Group sells the Petersburg shopping center "Pearl Plaza"

The Finnish construction concern SRV Group sells its last asset in Russia - the Pearl Plaza shopping center on the Peterhof highway. This is written by Vedomosti with reference to two consultants who worked with the object.

Buyer. According to the sources of Vedomosti, the structures of the Yekaterinburg developer "Prospekt Group" apply for the shopping center.

According to the consultants, “Prospekt Group” conducts negotiations with SRV Group on the purchase of 50 % of the complex and is ready to redeem the second half of the Chinese Shanghai Industrial Investment Company. Vedomosti notes that the developer also became the owner of Ai Bi Development, the management company Pearl Plaza.

Significance. The experts with whom the Vedomosti spoke called the Pearl Plaza one of the best trading facilities in St. Petersburg and estimated at 8-11 billion rubles.

Context. In March 2022, due to a full-scale Russian invasion of Ukraine, SRV Group announced the termination of business in Russia and the intention to sell the share belonging to the concern in Russian shopping centers.

In November 2022, SRV Group sold its largest asset in Russia, which had a share in the STA Mall shopping center. The buyer was the Cyprus investment company Geomare Investments Limited. The amount of the transaction amounted to 4 million euros. Geomare Investments Limited is associated with Group Avenue, RBC notes .