Norman Asset Management acquired a plot of 15,7 ha in the Zhukovsky suburb near Moscow for the construction of a retail center with a total area of 50 000 sq. m. The opening of the facility is planned for the fourth quarter of 2014.
To date, there are no projects of a similar scale in the southeastern direction of the Moscow region and their appearance in the future is not planned, which suggests a high demand for the object among the population not only of Zhukovsky, but also of the entire Ramensky and neighboring regions of the region.
Andrew Kazanli, Senior Investment Director at Norman Asset Management, comments: “We believe in the Russian retail market and the Zhukovsky project is a good example of its potential. Low supply of quality retail space, ambitious plans to expand international retailers, as well as an impressive growth in turnover are good indicators of the attractiveness of this segment. "
The deal was supported by Cushman & Wakefield.