Week's headlines

• French retailer Auchan will open the hypermarket with the area 18000 sq. m in the first phase of the CEC Sky Mall in Kiev; that area was before occupied by the hypermarket "О'К".
• The hypermarkets' net of electronics and home appliances "M.Video" opened its first shop in Pyatigorsk.
• Fashion Distribution Lab starts own retail net of goods for children "Fairy tale". The first shop "Fairy tale" will be opened in the middle of October at Tverskaya Street, 9.
• The trading-leisure centre "Mall" was opened in Lipetsk.
• French group Auchan starts a special trading format for Russian market - a net of hypermarkets "Rainbow" with the area of 5000-7000 sq. m each of them.

Warehouse real estate:

• The open company "Bureau SLiT" carrying out a full complex of delivery and storage of raw materials for the leader of branch the company "Liggett-Dukat" rented 12 500 sq m in the ILC "Northern Domodedovo" for 5 years.

Hotel real estate:

• The inspection of Federal tax service N4 of Moscow initiated the procedure of bankruptcy of one of the basic structures of Heliopark Group - the operating company "Heliopark hotel management".
• The company S-Group owning the net Sokos Hotels is going to close two of three hotels on a winter vacation.
• The international airport "Koltsovo" has opened a hotel-business complex "Angelo" that costs 1, 8 billion rub.

Office real estate:

• The first stage of the world trade centre "Nizhniy Novgorod" was opened on September 17. The investments are about 1 billion rub. The business centre at Kovalihinskaya Street, 400 m from the Kremlin of Nizhniy Novgorod, was under construction from the beginning of 2006. The project of the second stage (14 500 sq m) is already co-ordinated, and project of the third stage (44 000 sq m) is approved by the town-planning council at the governor.

Other evens:

• The first object exposed on the auctions by Russian auction house that was founded with the assistance of Sberbank, will become Petersburg Palace of the count Kushelev-Bezbordko constructed in XVIII century.
• Alpha bank and Mirax have agreed. The sides have entered into the complex agreement on which all debt of the developer to the bank at the rate about $250 million will be restructured for the term up to 18 months.
• Dutch architect Erick van Egeraat has addressed in Moscow arbitration with the requirement to recognize insolvent the developer Capital Group.
• Vladimir Pinaev after 14 years of work in the company Jones Lang LaSalle will leave it in the end of September to realize the personal interests and new business plans.
  

Journal

Top-lines of this issue:

Office Market: the Client Is More Likely Alive

Foreign Developers in Russia

Half a salary for being on the payroll

Accidental Developers

Portfolio Revisions

Lessons of Economy

Cleaning Market Gets Jammed

Crisis Mix

It’s All over the Housing Now

Andrei Lushnikov: “The market is in a state of mass psychosis.”

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