12.03.2013 KORTROS GC gathered gurus of theinternational investment marketat MIPIM-2013
The investment discussion panel “Investment into housing of mass demand: risks and prospects” with the participation of experts of the global real estate market, organized by the KORTROS GCwas held today as part of the MIPIM-2013.
Such experts as Gordon Black (Heitman), Guillermo Beygual (European Real Estate JP Morgan), Teemu Helppolaynen (YIT Construction); Peter Aestirl (Acquisitions Immofinanz), Sebastian Van Loon (UBS INVESTMENT BANK)made presentations especially for the platform participants. The gurus of the international investment market shared with the platform participants, investors and developers, their point of view on what will be the drivers of the Russian real estate market in the near future.
In his speech, the Vice-President of YIT Construction Teemu Helppolaynen noted that in the future residential real estate would continue to be one of the fastest growing segments of the market. Among the growthdrivers,the expert mentioned theshortage of premises, per capita, in Russia (according to statistics, one Russian citizen has only 23 sq. m. to live in), high demand (60% of young people want to improve their living conditions) and intensive migration (today migration isreaching 10%in the Russian Federation).
All the panelists agreedthat housing is still the most promising segment in Russia. Representatives of foreign companies and funds mentioned that they still find it easier to work in Moscow, St. Petersburg, and Yekaterinburg, than in regions where the “rules of the game” are constantly changing.
Responding to one of the main issues, the discussion about the projects that ensure the positive expectations of foreign investors,international experts agreed that these are, above all, projects, which involvecomprehensive development of a territory. Such projects provide a person, who owns economy-class housing, with the opportunity to use the same infrastructure of the area (shops, cinemas, sports facilities and social facilities) as the man who bought housing in a luxury complex. The KORTROS GC has demonstrated a comprehensive approach in the implementation of such projects as the Akademicheskiy in Yekaterinburg, Yablochneviy Posad in Yaroslavl, Zarechnaya Sloboda and Bogorodsky in the Moscow Oblast.
Continuing the topic of integrated development of territories, the experts of the international investment market pointed outthat public private partnership can strengthen the infrastructure component of many projects (in terms of engineering, technical connection to electric carriers, solution of the transportation problem).“Public-private partnership has another important advantage – it removes the ambiguity, and so foreign investors clearly see the prospects of a project, and do not act blindly,” said director of UBS INVESTMENT BANK Sebastian Van Loon.
Veniamin Golubitsky, President of GC KORTOS,mentioned the construction of the AkademicheskiyDistrict as a successful example of a public-private partnership. “As to the total investments into the Akademicheskiy, the state's share is only 10%. At the moment, the district is home to about 40,000 people. The quality of their accommodation isensured not only by the level of new housing, but also by the high level of infrastructural development of the district, said Veniamin Golubitsky. Each developer decides individually when, and at what stage to invite the government to participate in the project. Sooner or later, everyone understands the need for this public-private partnership, but only those who areamong the first to come to such an understanding, will be able to sew uplarge bonuses for themselves.”
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