Coalco, one of the largest Russian developers, is going to transfer the projects with the total area exceeding 1,000,000 square meters to MR Group on fee-development conditions. MR Group will provide a full range of services as part of fee development, including development of a concept, marketing, design and construction management, receiving permits, putting into operation and commercial realization.
Today Coalco's portfolio is represented by projects with the total area exceeding 15 mln. sq. m. Coalco's land bank exceeds 20,000 hectares. There are large-scale projects in Moscow Region under construction, such as comfort class residential areas, such as Greater Domodedovo, Odintsovo-Arkhangelskoe, Galchino, Danilovo, Rastunovo, as well as Velyaminovo and Kuzminskoe industrial and logistic complexes. Royal Plaza, Crystal Towers and Basmanny, multi-functional business class complexes, are at the stage of development in Moscow.
MR Group's portfolio includes the projects with the total area of 4.7 mln. sq. meters, with the objects at the active stage of realization including the multi-functional complexes of Vodny, Fili Grad, Savelovsky City, Danilov Plaza business center in Moscow and Eco Vidnoye residential area in Moscow Region. Besides its own sites, MR Group is successfully developing projects as part of fee development.
"The partner agreement with Coalco is a very important stage of company development for us. Fee development is a generally accepted world practice, and the Russian real estate market is now going in the right direction of transferring assets for professional management. We are absolutely sure of successful objects realization in the format of fee development, considering the promising nature of Coalco's sites and the efficient strategy of joint realization of these objects on the part of MR Group. The selected format is the first step in the cooperation between Coalco and MR Group, and we are planning to develop new sites on a joint basis in the future," - says Roman Timokhin, MR Group's General Director. Olga Dmitrieva, Coalco's new General Director, confirmed the start of joint work with MR Group.