Russian developers massively reworking office projects in housing. So do "Glavstroi" LSR, MR Group, Clover Group and AFI Development. The housing market is rapidly emerging from the crisis: in the capital since the beginning of the year prices rose by 8%, and apartments for the past nine months has sold more than for the whole year 2009. On the office market as Moscow and St. Petersburg is empty about 20% of business centers, and the rates are still 30-40% below pre-crisis. From the construction project office area of 360 thousand square meters. m near the metro station "Philly" in Moscow has refused the company MR Group. As told MR Group CEO Roman Timokhin, according to a new concept of the first phase of the complex involves the construction of 76.5 thousand square meters. meters of housing for commercial and office space will be given to only 25.3 thousand square meters. m. "economy-class accommodation is now in demand, and offices in so many do not," - explained Mr. Timokhin, adding that the concept of the second phase of the project will be determined later. May seriously reduce the office component in some of their projects and AFI Development. "We consider the option, instead of a business park near Paveletskaya area of 120 thousand square meters. M to build a residential complex (10 thousand square meters. M of offices already built .-" b ")",- told "Kommersant" PR-director AFI Development Natalia Ivanova. Also, she said, from 300 thousand to 130 thousand square meters. m in favor of business-class housing may be cut in the complex of office of the Grand Postal Street. Similarly, arrived with his office projects in St. Petersburg "Glavstroi" Oleg Deripaska and LSR. Instead of 320 thousand square meters. m of offices in the streets and Rosenstein Shkapina "Glavstroi St. Petersburg" to build 60 thousand square meters. m housing economy-as well as hotel, said Project Manager Anastasia Kozlova. For offices will be given a total of 30 thousand square meters. m. "The decision is dictated by the low liquidity in the office segment and the presence in St. Petersburg, a substantial amount of vacant space," - explained Kozlov. In November 2010, decided to build on the avenue Medics instead of 340 thousand square meters. m elite offices of about 200 thousand square meters. m housing subsidiary of LSR Group "Renaissance of St. Petersburg," according to "Kommersant" commercial director Larisa Inchenko. An even more ambitious plans for Clover Group. Now the company is implementing eight projects for construction of multifunctional complexes of about 600 thousand square meters. m in Sochi, St. Petersburg, Nizhny Novgorod, Kazan, Rostov and Khimki near Moscow. "Earlier it was mainly office and retail projects with a small residential component, is now about 80% of the area will be given over to the apartment," - said General Director of Clover Group, Alexander Popov. "Housing economy-emerging from the crisis faster than the commercial property market", - says CEO of the developers' Miel New "Maria Litinetskaya. According Rosreestra the first nine months of 2010 in the capital is already registered more transactions than for the whole year 2009 (85.64 million versus 68.5 million). Total for Russia in this period were sold 1.918 million against 1.949 million flats in 2009. Together with demand growing and prices for apartments: according to company estimates, "Inkom", from the beginning of 2010 housing prices in Moscow increased by 8%. At "Miel New" weighted average cost of housing in the "primary organization" is estimated at 190.3 thousand rubles. per 1 sq. km. m (below pre-crisis 10-15%). In St. Petersburg, according to the portal eip, prices since the beginning of the year have not changed and are 86.1 thousand rubles. per 1 sq. km. m (in the late summer of 2008 - 109.3 thousand per 1 sq. km. m), while the offices are still cheaper. According to "Colliers International St. Petersburg", the average cost of renting offices in Class A in St. Petersburg is $ 360-400 per 1 sq. km. m per year, Class B - $ 240-260, which is below pre-crisis rates of 30-40%. The average vacancy rate in the St. Petersburg business centers is 19.4%. "It is still relevant bargaining with the owners of the premises, which resulted in the discount can range from 15% to 25%" - the report says NAI Becar. In Moscow, according to Colliers International, the average vacancy rate is 14.3% in class A and 11.6% in Class B against 4.1% and 5% at the end of 2008, respectively. Rates also declined from the peak $ 1190 per 1 sq. km. m per year in Class A and $ 890 in Class B to $ 647 and $ 439 respectively, which increased the payback period of such projects up to 8-10 years.
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