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Renaissance Development to Build First Qualitative TEC in Surgut

May 18, 2011, 13:11 (PX Newswire)

Renaissance Development and Jones Lang LaSalle announce the start of realization of the new trade center project in Surgut.

The grand opening of TEC Aura in Novosibirsk by Renaissance Development in April has once again demonstrated that professional developers are able to create a unique product, featuring a novelty and uniqueness to consumers and based on a balance of interests between developers and tenants.

The new project of Renaissance Development is located in Surgut on the intersection of the main highways of the city, connecting Surgut to Nefteyugansk and other towns of the region. This arrangement allows the mall to intercept the main flow of residents from the nearby towns and increases the potential coverage of the project by almost a factor of 2 to 700 thousand inhabitants. Also there are plans of a massive residential development in the vicinity. The total area of the two-level complex is 100,000 sq.m., of which 65,000sq.m. is intended for rental. Jones Lang LaSalle is appointed as the exclusive agent for marketing and leasing.

The company Jones Lang LaSalle noted that the leading retail operators demonstrate interest in the complex. In particular, their willingness to take the place of the anchor tenants of the complex confirmed by: O’KEY food hypermarket with an area of 11,500 square meters, home appliances and electronics Media Markt - 5000 sq.m., Group of Companies Inditex. In addition, the Project is hosted sporting goods store, an area of 1,500 sq.m., and store goods for children, about 1 500 sq.m. Entertainment component will be represented by a multiplex cinema - 4 000 sq.m., bowling and entertainment centre - 2 000 sq.m. Parking Complex provides 2,500 parking spaces.

As noted by Sergei Kotov, senior consultant at Jones Lang LaSalle: «Renaissance Development Company experience is the best guarantor of the success of their new project. This is also confirmed by the high interest in the project from tenants already in the current phase of work. "

Elkhan Kerimli, Managing Director of Renaissance Development, added: "We believe that by creating our shopping centres, we will forever change the trade area of the city and change the representation of the inhabitants of the modern shopping malls. We are confident that this can only be achieved by building mutually beneficial relationships with our partners based on mutual respect. The validity and effectiveness of this approach has proven "Aura" project in Novosibirsk, Russia, and that these principles we follow in implementing the project in the city of Surgut.

The opening of a shopping centre in Surgut, scheduled for IV quarter of 2012.

– end –

About Renaissance Development
Renaissance is one of the leading general contractors and commercial real estate development groups in Russia, Turkey, Ukraine and Libya, and is expanding into Turkmenistan and the Gulf countries. During its 15 years of operations, Renaissance has completed more than 420 projects valued at over $5.0 billion. Currently, the group has over 15,000 employees working at 32 different locations. Engineering News Record ranked Renaissance 3rd in ”Retail”, 18th in “General Building” and 85th “Top International Contractor” in the world in December 2009.

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 158 million square meters worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $41 billion of assets under management.

In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg and Kiev. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010 and 2011 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg.For further information, please visit our web site www.joneslanglasalle.ru

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