Tesco has designs on Russia, say real-estate advisers

Jeff Kershaw, senior director at the Moscow office of CB Richard Ellis Group, is one of three real-estate advisers who have revealed they have held talks with the supermarket giant.

Kershaw has said Tesco is looking for ways to enter the Russian market, which is believed to worth some $191bn.

If Tesco was to enter Russian retail it would face competition from X5 Retail Group NV (Russia's largest supermarket owner), and German group Metro, as well as French retailer Carrefour.

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Real estate perspectives for the region of Moscow in 2008

As the most fundamental obstacles for real estate in the Moscow region, Voronin identified bureaucracy and the physical scarcity of building materials. Although the production of materials is actively developing, he does not expect to see a breakthrough in the next five years.

As a recommendation to private real estate investors in the region, Voronin remarked that currently economy class residential space remains the most liquid with nevertheless a high potential for growth. However, he noted, "A more interesting idea is investment in "gated communities". According to Voronin, these communities carry with them a higher margin of profitability, but their attractiveness depends on the length of the desired commitment, as they are less liquid.

Moscow is ready to OK a new law limiting foreign investment in key sectors

The rules for foreign investors in Russia have often been murky. But a landmark new law due to be approved by Russia's parliament on Mar. 22 should at least make matters a little clearer. The Kremlin-backed statute will regulate investment in so-called strategic sectors of the Russian economy, meaning that foreigners will henceforth have to seek government approval if they plan to make significant investments.

The law represents the culmination of a trend in recent years toward greater economic restrictions in Russia. The government has noticeably cooled toward foreign investment in sectors deemed to be of strategic importance—notably the crucial energy and minerals segments.