Russian real estate developer forms strategic alliance

The Otkritie-Real Estate Company, an affiliate of Otkritie Financial Corporation, is poised to sign a strategic partnership agreement with the Austrian developer Strabag today, the Russian developer told RBC Daily. Strabag is expected to be appointed Otkritie-Real Estate's general contractor at the Russian company's building sites, while Otkritie-Real Estate is to be involved as a real-estate developer for Strabag's projects. The partners are planning to launch three new projects worth a total of $500m in the near future. Both companies believe that the partnership is projected to be very profitable for the Russian developer.

Singapore Invests in Moscow Region

The Singapore government's real estate investment fund on Monday announced it was taking the plunge into the Russian market, putting $233 million into a project with leading developer PIK Group to build a self-contained neighborhood in the Moscow region.

GIC Real Estate, part of the Government of Singapore Investment Corporation, said in a statement that an affiliate company had acquired a 25 percent stake in the mammoth, 114-hectare Yaroslavsky development in the town of Mytishchi, northeast of Moscow.

Russia "land of opportunities" for retailers

There's no place like Moscow for global retailers looking to expand over the next five years, according to a survey of 250 retail firms from 23 European countries released on Thursday.

The survey, conducted by real estate consultancy Cushman & Wakefield, ranked Moscow as the choicest city for retail market growth, and had Russia tied with the United Arab Emirates as the most attractive country.

Taking a chance in Belarus's real estate market

All land in Belarus is publicly owned - even Belarusians who buy homes or commercial buildings usually receive only a 50-year lease on the land. And all transactions involving state property valued at more than the equivalent of $150,000 must be approved personally by President Alexander Lukashenko.

Neither foreigners nor foreign legal entities are allowed to buy properties, although it can be done indirectly through Belarusian companies. "Everyone has their own strategic plan to participate in projects in different sectors here," says Mikhail Gradovich, managing director of Colliers International Belarus.

Moscow's Big Space Shot

Moscow has seen a building boom over the past five years and is setting its sights higher. Even with problems wracking credit markets, the city has taken early steps to add the world's biggest building to its rapidly expanding skyline.

Last week, Moscow's Public and Architectural Council granted preliminary planning permission for Crystal Island, a proposed development on the metropolis's Nagatino Peninsula that is designed to contain more floor space than any other building in the world.

Sistema-Hals in partnership with Apsys for Russian retail property development

Russian property developer Sistema-Hals JSC said it has signed a strategic partnership agreement with Apsys, the European real estate developer, to co-develop and manage retail projects in Russia in a 50-50 joint venture.

Separately, Sistema-Hals announced a strategic partnership with Saraya, a real estate development and asset management company investing in travel and tourism, to invest in Kamelia Investment Co to develop a Saraya branded project at the Black Sea in Sochi.