Tatar developers have gone to Moscow

Group ASG ex-official of Kazan Alexei Semin made his debut in Moscow with the building next to Rublevka profitable business-class homes worth $ 130 million Group's main assets of more than $ 800 million are concentrated in the Republic of Tatarstan. Given that the construction complex of Moscow headed by ex-Minister of Construction Tatarstan Marat Khusnullin, ASG will be able to gain a foothold in the capital, suggest developers. In late 2010, ASG began to implement its first development project in Moscow - a network of profitable business-class homes "Rublevo Myakinino." By the end of 2011 to 3.5 ha in the north-west of the capital should appear Club Village and several apartment buildings with total area of ​​35 thousand square meters. m told "Kommersant" principal owner of ASG Alex Semin. According to him, the project area could increase to 70 thousand square meters. m. ASG acquired the land in the capital in the secondary market, said the businessman. Payments for the lease is finished housing will be set at $ 1.7 thousand per month per room. CEO "Miel New" Marina Litinetskaya evaluates investment in the first phase of the project at $ 120-130 million payback of this project may be seven to ten years, she warns. ASG is created on the basis of JSC "Education" established in 1991. The main owner Alexei Semin in 1995-2000 was a member of the State Council of Tatarstan, in 1999-2005 he headed the Republican Committee on Insolvency and financial recovery. Almost all of the assets of the group are concentrated in Tartary: 300 thousand square meters. meters of real estate and 25 thousand n, which are located in two REITs run by "AC Management" (owned by ASG). According to the National League of Management in September 2010, the net asset value "AC Management" has reached 25.147 billion rubles. (About $ 830 million), and a market share of 6.58%. According to these indicators the company second only to the Criminal Code "Agana" (39.53 billion rubles. And 10.34% respectively) and ahead of his nearest rival in the region of the Criminal Code of "Ak Bars Capital" (14.9 billion rubles. And 3.9%) . In Moscow suburbs and operates dozens of projects in a profitable home business class, among them "Setun" (24 houses, the owner - "Bullfinches-Development"), "Pokrovsky Hills" (207 houses, owned by Goldman Sachs) and "Dewdrop" (360 houses, the owner - Rosinka International Group). These villages were built in the 90s for expats. According to the deputy director of the "Dewdrop" Xenia Sosnowski, rent them in the village was $ 10-16,5 thousand per month, while the average occupancy rate for the year - 90%. Only in isolated villages with such occupancy apartment houses, most of these projects turned out to be little success, insists managing partner of Blackwood Konstantin Kovalev. He says that because of low demand for profitable home-based business-class return on such projects in Moscow and Moscow does not exceed 4-5% per annum, while in Europe and the U.S. the figure is 6.8%. Not be ruled out that a couple of years ASG sells project, he said. The only big deal in Moscow for the sale of tenements held in 2006. Then the developer of the U.S. Hines for $ 200 million sold my village, "Pokrovsky Hills" (about 48 thousand square meters. M) in north-west of the capital at the Khimki Reservoir investment fund AIG / Lincoln. Before the crisis the village, where the housing rent in the main staff of embassies, was resold for $ 300 million Goldman Sachs (see "Kommersant" on August 1, 2008). Although ASG newcomer on the Moscow market, but given the roots of the group, she may have administrative resources, the capital reasoning developers. In late 2010, the mayor of Moscow Sergey Sobyanin was appointed head of the Moscow construction instead of Vladimir Resin Khusnullin Marat, a former construction minister of Tatarstan. Mr. Semin said that he was familiar with the officer to work in Kazan, but his team came out on the Moscow market on their own and even prior to the appointment of Mr. Khusnullin vice mayor. Meanwhile, ASG is known as a co-investor satellite city between Kazan and Zelenodolsk (4.14 million square meters. M of affordable housing within the national project), which oversaw the construction, including Marat Khusnullin.