Real estate proessionals have met to sum up the results of the ending year and discuss the future market trends at the Christmas Summit in Moscow, the traditional anticipated networking event topping the year. The event is organized by PROEstate Events, supported by the Russian Guild of Managers and Developers and Academy of Real Estate, Moscow Investors Association.
The first part of the conference program features the results of ending year and the market potential for the coming year.
Konstantin Timofeev, Chairman of the Committee for the implementation of investment projects in construction and supervision of participatory construction (Moskomstroyinvest), has expressed his view regarding the amendments to the shared-equity construction legislation (214-FL). According to Mr. Timofeev only 32% of developers will be able to comply with the legislation requirements, however he is sure that the volume of residential commissioning will be the same as in 2015.
Aleksander Khrustalev, Chairman of the Board of NDV-Group, thinks that in 7 years the construction business will be under control of banks. “Now banks own more than 50% of development companies, these are VTB, Sberbank, Promsvyazbank, Absolut Bank, Binbank etc. The number of banks entering development business will even grow.”
Vladimir Gamza, President Counsellor of DDP Group, Co-chairman of the monetary management of All Russia Public Organization “Business Russia”: “The Central Bank of the RF has introduced the program to support the econimc growth by providing the possibility for the Russian companies to apply for debt and equity financing.” Mr. Gamza also believes that it is important to develop the loan stock market.
Alena Kucher, Partner of Debevoise&Plimpton LLP, has told the participants about the most significant changes in the legislation and judicial practice of the Russian Federation during 2015.
During the second part of the Christmas Summit real estate market experts have shared forecasts for different real estate segments in 2016.
According to experts’ opinion the rent rates for retail property will grow only for foods distributors.
Tatiana Osipova, General Director of SRV360, finds a solution for vacant spaces in shopping malls. Ms. Osipova offers to rent the vacant spaces to charge-free operators, such as children entertainment centers, art-galeries, co-working, theatres. Ms. Osipova thinks that the shopping centers can increase the number of visitors by developing these types of entertainment for visitors.
Semen Yurchenko, Partner and Head of Office property management of Cushman & Wakefield, considers that the demand for office property will be formed mainly by the state participation and state-owned enterprises. Mr. Yurchenko adds that the quality of officie property management will be the main factor of the project success.
The warehouse market is the most stable real estate sector at the moment. Vyacheslav Kholopov, Director of Industrial, Warehouses and Land department, Russia & CIS, Knight Frank Russia & CIS: “ 1700 m2 of warehouse property has been rented out and sold in Russia in 2015. In 2016 we expect the volume of deals to be reduced by 30-35%, and the rent rates to be retained. New formats are expected to be developed, such as wholesale and retail and small-size warehouse property (up to 1000 m2).”
The Christmas Summit participants concluded that the economic crisis is the time for strong and highly-competitive companies.
Christmas Summit speakers: Aleksander Sharapov, President of NAI Becar; Valeriy Mischenko, Chairman of the Board of KASKAD Family; Vladimir Pinaev, General Director of CBRE; Tatiana Khoreva, Vice-President of RD Group; Oleg Mamaev, Executive Director of PNK Group; Aleksey Boldin, General Director of Magistrat LLC (INTECO Group); Nikolay Kazansky, Managing Partner, Colliers International Russia; Rustam Arslanov, Deputy General Director, Director of Sale department, Granel Group.
Strategic partner – Debevoise & Plimpton LLP.
Official partner – Gals-Development
Partner of the Christmas Summit reception – DDP Group
Partner – NDV Nedvizhimost
Partner – Rostelecom
Expert for residential property – KASKAD Family
Expert for retail property – SRV
PROEstate Events in partnership with the Russian Guild of Property Managers and Developers organizes business events for real estate companies and urban development authorities. The company’s mission is to provide efficient and productive communication between members of the real estate community. Today PROEstate Events’ carries out large-scale promotion campaigns and organizes professional events covering diverse subjects related to the RE industry.
Academy of Real Estate (ARE) – capacity building center providing education and training courses and products for real estate professionals. Using resources of the Russian Guild of Property Managers and Developers (RGMD) and experience of International investment forum PROESTATE, the Academy of Real Estate (ARE) Education center offers wide range of tailor-made business events for professionals. ARE programs and seminars adapt the best-available international educational products to needs and demands of the Russian market. Education & training courses cover the core market capacities: development, FM / AM, marketing, and others. High quality of educational programs is ensured by the best experts, top executives of the leading companies, members of RGMD who take an active part in the course delivery.
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