Underground shopping centres to appear under Paveletskaya and Tverskaya squares in Moscow

Corporate Profile ZAO Techinvest was founded by entrepreneurs Pavel Fuks and Alexander Ter-Avanesov. The company takes part in different development projects in Moscow among which – 75-storied sky-scrapper in Moscow – City worth $250 mln. Techinvest founders also own the parts in Atrium shopping centre near Kursky train station, in Kaluzhsky Office Complex and others.

Late 2004 Pavel Fuks bought 60 per cent in Aqua-City Palace company that owns aqua-park being constructed in Moscow City (the project is worth $250 mln).

Two big underground shopping centres are to appear in the coming years under Paveletskaya and Tverskaya Squares in Moscow, Vedomosti newspaper informs.

The project of the centre under Paveletskaya Sq. was approved on January 19. Its main investor Techinvest company is expected to spend on its constrtuction $150 mln. According to Techinvest spokeswoman Natalya Osipova, the project is managed by OAO Paveletskoye partially owned by Moscow authorities that was established for this purpose in 2004. Osipova commented that construction of the centre can be started as early as in the second quarter of this year and will last about 2 years.

Total area of the future centre will amount to 130 000 sq. meters, of which 115 000 sq. meters will be occupied by the shopping centre. All levels of the complex will house shopping galleries. On the second underground floor there will be a supermarket of 2000-3000 sq. meters, on the fourth - food court, 10-screen multiplex and entertainment block. The second level of the centre will be accessible from the new entrance hall of Paveletskaya-Koltsevaya metro station. Additional crosswalks will be constructed. 5-level underground parking will be intended for 875 vehicles.

Tender for the future supermarket has been already issued. According to Vedomosti, the main candidates for its management are Perekryostok, Sedmoy Kontinent and Azabuka Vkusa retail chains.

Construction of the complex under Pushkinskaya Sq. can also begin this year. Especially for this purpose Moscow government and Turkish holding MNG have established Shopping and Entertainment centre ‘Tverskoy’ entity, where Moscow authorities own 25 per cent. As Vedomosti has learned, MNG is going to invest into the project at least $80 mln.

Total area of the complex under Tverskaya St. will be 96 500 sq. meters, with underground parking for 850-1000 vehicles. Floor space of the centre will amount to 40 000 sq. meters.

Such world-known brands as Benetton, Nike and others have already showed interest in the future centre. The only thing they are worried about are leasing rates for Tverskaya St. is one of the most expensive places not only in Moscow, but in the world with the rent varying from $3500 to $5000 for the square meter.

Corporate Profile ZAO Techinvest was founded by entrepreneurs Pavel Fuks and Alexander Ter-Avanesov. The company takes part in different development projects in Moscow among which – 75-storied sky-scrapper in Moscow – City worth $250 mln. Techinvest founders also own the parts in Atrium shopping centre near Kursky train station, in Kaluzhsky Office Complex and others.

Late 2004 Pavel Fuks bought 60 per cent in Aqua-City Palace company that owns aqua-park being constructed in Moscow City (the project is worth $250 mln).

Two big underground shopping centres are to appear in the coming years under Paveletskaya and Tverskaya Squares in Moscow, Vedomosti newspaper informs.

The project of the centre under Paveletskaya Sq. was approved on January 19. Its main investor Techinvest company is expected to spend on its constrtuction $150 mln. According to Techinvest spokeswoman Natalya Osipova, the project is managed by OAO Paveletskoye partially owned by Moscow authorities that was established for this purpose in 2004. Osipova commented that construction of the centre can be started as early as in the second quarter of this year and will last about 2 years.

Total area of the future centre will amount to 130 000 sq. meters, of which 115 000 sq. meters will be occupied by the shopping centre. All levels of the complex will house shopping galleries. On the second underground floor there will be a supermarket of 2000-3000 sq. meters, on the fourth - food court, 10-screen multiplex and entertainment block. The second level of the centre will be accessible from the new entrance hall of Paveletskaya-Koltsevaya metro station. Additional crosswalks will be constructed. 5-level underground parking will be intended for 875 vehicles.

Tender for the future supermarket has been already issued. According to Vedomosti, the main candidates for its management are Perekryostok, Sedmoy Kontinent and Azabuka Vkusa retail chains.

Construction of the complex under Pushkinskaya Sq. can also begin this year. Especially for this purpose Moscow government and Turkish holding MNG have established Shopping and Entertainment centre ‘Tverskoy’ entity, where Moscow authorities own 25 per cent. As Vedomosti has learned, MNG is going to invest into the project at least $80 mln.

Total area of the complex under Tverskaya St. will be 96 500 sq. meters, with underground parking for 850-1000 vehicles. Floor space of the centre will amount to 40 000 sq. meters.

Such world-known brands as Benetton, Nike and others have already showed interest in the future centre. The only thing they are worried about are leasing rates for Tverskaya St. is one of the most expensive places not only in Moscow, but in the world with the rent varying from $3500 to $5000 for the square meter.