Pavel Te and Sergei Gordeev will build up the Moscow industrial zone

Capital Group together with GC "PIK" will build 300 000 square meters of housing on Ryazan Avenue.
The Capital Group developer will build 8.73 hectares on the 2nd Instytutskaya Street together with PIK Group, told Pavel Group shareholder Capital Group. The project in the industrial zone at Ryazan Avenue, in which each side will receive half, refers to the comfort class, while the Capital Group itself specializes mainly in premium real estate, explained Cho's choice. A PIK representative confirmed his partnership with Capital Group by refusing to disclose details.

Controlled by Cho "Skytauer Group" won an auction for the sale of production and warehouse complex at 49 000 square meters. m and a land plot on the 2 nd Institutskaya street in June 2017. This area is planned to build about 300,000 square meters. m of housing, of which approximately 80 000 square meters. m will be transferred to the city under the renovation program, specified Te. Investments in the project managing partner of the "Metrium Group" Maria Litinetskaya estimates at 19 billion rubles. without taking into account the cost of the land.

For all the scale of the project, in case of a competent price policy and high construction speed, it can be sold for 4-5 years, believes the leading analyst of CICA Alexander Pypin. Even beyond the Moscow Ring Road there are projects in which more than 90,000 square meters are sold annually. m., for example, "Suburb Lesnoye", "Lyubertsy 2017", "Salarievo Park", etc., he lists. Litinetskaya adds: in the area of ​​the new project Capital Group very low competition - not far from the site are built only three major projects, including Sreda, which in 2017 ranked third among the new mass segment in the MKAD in terms of the number of apartments sold. True, a number of promising sites for residential development are near, Pypin draws attention. But as the start of competing projects in the conditions of renovation strongly depends on the position of the city, the situation is unlikely to become unmanageable, he adds.

Within walking distance from the Capital Group site is the metro station "Ryazansky Prospekt", recalls Litinetskaya. Positive role in the project will also play the names of developers - PIK and Capital Group - the leaders in terms of the size of the portfolio implemented in the primary market of projects, adds Litinetskaya. Now buyers are increasingly choosing complexes, based on the reliability and fame of developers, she explains.

PIK is the largest real estate developer in Russia, its main shareholder is Sergey Gordeyev (74.6% of shares). By the end of 2017 the group can sell 1.7-1.9 million square meters. m to 190-200 billion rubles., reported earlier the developer. Capital Group is one of the largest development companies in Moscow: its portfolio is about 8 million square meters. m mainly premium and business class. Over the past few years, she has entered several projects in a more accessible segment.

Risk for the project on the 2 nd Institutskaya street, according to Pypin, may be illiterate financial policy, which is especially dangerous with a low level of implementation prices, characteristic of this part of the city. As an unfortunate example, he calls the LCD Tsaritsyno. But, given the already accumulated successful experience of Capital Group's participation in inexpensive projects (Mir Mitino, Positive), this is unlikely, he says.

Capital Group often attracts partners for the implementation of projects. "After experiencing the crisis in 2008 and resolving the problems with creditors, I realized that loans for our business are evil," said Te in an interview with Vedomosti. "I left this scheme, it's easier and clearer for me if I take a financial partner in the project," he said. So, the completion of a problem residential complex on the site of the Kalibrovsky plant in the north-east of Moscow Capital Group will be engaged in conjunction with the "Cortros" Viktor Vekselberg.