Investment fund VIY Management, founded by the son of the former president of the Russian Railways Vladimir Yakunin Andrew, to build offices with apartments on Rublevo-Uspensky highway. This project will need to invest over 10 billion rubles. Investment Fund begins construction is not the most opportune time is now in the Moscow commercial real estate market weak demand from tenants, which led to an increase in vacant space.

Investment fund VIY Management (VIYM) Andrey Yakunin will begin construction on Rublevo-Uspensky highway multipurpose center with offices and apartments with a total area of ​​140 thousand sq. M. m. This "b" said the director of real estate Dmitry VIYM Minchev. According to him, the total investment is more than 10 billion rubles. A top manager said that the fund is not to build more office centers, although the hotel real estate segment continues to actively consider opportunities both in Russia and abroad. This position is now occupied by many commercial real estate developers, said the regional director and the head of the group of office space JLL Alexey Efimov. "Finish building started to crisis sites, with new projects in no hurry, watching the movement of the debt market and rental rates", - he explained, adding that the current conditions of debt financing significantly reduce the commercial attractiveness of real estate development projects.

VIYM specializes in private equity fund management in hotel real estate in Western and Eastern Europe as well as in the real sector companies in Russia and CIS. One of the assets in the hospitality sector - Regional hotel chain, which manages nine hotels in Moscow, Sochi, Kazan, Izhevsk, Novosibirsk, Yaroslavl, Astrakhan and Voronezh. Three independent asset have in St. Petersburg: the five-star Four Seasons (183 rooms), projects to build hotels in the historic building Nikolsky market and the construction of elite residential complex "Aquarius" (24 sq. M.).

According to Director of Strategic Analysis and Planning CBRE Olesya Dzyuba, VIYM laid an adequate market and declared areas of the project budget. However, the new office center will be difficult to compete with the existing proposal in this area. "The percentage of vacant space in office centers in the west up to 30% against 17% for the whole market," - she said. Near the site is located VIYM business center Pallau-RB (56 thousand sq. M.), Built by "Ferro-Story" (owned by co-owners of Evraz Group, Alexander Abramov and Alexander Frolov). One of the consultants in the real estate market, said that about 40% of the area will take "Mosoblgaz" structure. The rental department Pallau-RB does not comment. Meanwhile Pallau-RB about competition do not worry. "Our facility is ready, nearby has not yet begun to build three to five years later, the market may change.", - The "Kommersant" source.

Against the background of a large amount of vacant office area in the west of Moscow will be a long time to be implemented in the format speculative, says Ms Dziuba. "Location may be of interest specific to the tenant, may be constructed by the customer," - does not preclude it. The cost of renting an office in the area can reach 15 thousand. rub. for 1 sq. m. The attractiveness of the new location for the project VIYM apartments above the head of the consulting department Knight Frank Julia Pronina. The average selling price of apartments without finishing on Rublevo-Uspensky highway varies from 110 thousand. Up to 140 thousand. Rub. for 1 sq. m at the stage of construction. According to estimates of Ms. Pronina, the average cost of construction of apartments is now about 50 thousand. Rub. for 1 sq. m excluding infrastructure costs.

Yekaterina Gerashchenko, Alexander Mertsalova