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| Western investors eye property market in Russia  Over 70 Russian cities and regions, investors, project developers and service-providers in the property sector – more than ever before – will be presenting themselves at Expo Real 2008. The 11th International Commercial Property Exposition takes place from 6 to 8 October 2008 in Munich. According to CB Richard Ellis the total investment volume last year in commercial property in Russia was a good five billion US dollars – 35 percent more than the year before. And this took place despite the fact that finance had become more difficult for some western investors in the second half of 2007 as a result of the expanding credit crisis. These figures mean that for the first time Russia attracted the highest proportion of overall investment in Central and Eastern Europe.At present it is still Moscow where the majority of investment is concentrated, the 'investors´ darling' being once again retail and office property. Office property alone accounted for almost half the total investment volume in 2007 – 2.3 billion US dollars. Many companies from Moscow, and also the city authorities of Moscow and the region of Moscow, will be at Expo Real 2008, presenting their latest projects. An overview of the market in Russia is offered at the Real Estate Investors Guide 'Russian Federation' on Monday, 6 October, in the Investment Locations Forum at Expo Real. This event will feature sector experts from Moscow, such as Georgii A. Ivanov, Managing Partner of Eurasia, and Lawrence J. Mahon, Co-Divisional Director of Construction at Basic Element. International players in Russia will also be represented, among them Metro Asset Management GmbH of Düsseldorf, in the person of Michael Cesarz, Management Spokesman. Plus Dr Sergey Nikitin, Head of the Russian Chamber of Trade and Industry in Berlin. Gradually, however, more attention is being paid to the regional centres, the cities with over one million in habitants, known as the 'millioniki'. The general economic expansion is also promoting the development of these cities. Retail centres like Yekaterinburg and Samara, which are predicted to carry on experiencing strong growth, will also be presented at Expo Real 2008 – also Kasan, which is diversifying its industrial base and Yaroslavl, a city with a population fast approaching one million, which is concentrating on expanding its retail sector. The Russian Afternoon in the Media Lounge at Expo Real 2008 on Tuesday, 7 October, will be highlighting further interesting investment opportunities, beyond Moscow, and investigating the question of 'Which cities will be the next to boom, and who will finance the projects?'. The event will also show where in the 'powerhouse' that is Moscow it is still sensible to invest and which companies are engaged there and for what reasons. It will also cast a glance – for the first time – at the emerging markets of Kazakhstan and Ukraine. write your comments about the article :: © 2008 Construction News :: home page |