The market of Petersburg is attractive for the Hochtief AG, - Aleksey Tchizhov says.
25.04.2008
Hochtief AG plans to invest in commercial real estate of St-Petersburg and Moscow.
A subsidiary branch Hochtief Development Russland is already registered in St-Petersburg. The market of Petersburg is attractive for the German holding because it is still possible to own land sites in the city unlike in Moscow, consulting director with Praktis CB Aleksey Tchizhov says.
The Holding includes HochtiefAirport, Hochtief Development, Hochtief Americas, Hochtief Asia Pacific and Hochtief Europe. In 2006 the turnover was 15, 5 billion Euros. For the end of 2006 the order portfolio reached 25, 1 billion Euros. In May 2007 Bazovy Element owned by Oleg Direpaska bought about 9% of the shares of Hochtief AG circulated in the market. In Russia the Holding has been present since the 1990-s by subsidiary branches Hochtief Construction and Hochtief Turner. Currently, they are participating in the project of SheremetievoAirport expansion in Moscow and in constructing the dumb and a container terminal in St-Petersburg.
It will become the head office and will deal with investments around Russia. At the moment the German concern is going to concentrate on the market of Petersburg alone, the press secretary of Hochtief AG Christian Herhardus says. “We are considering some offers to buy site for future warehouses. Firstly, we are interested in constructing offices of the higher segment, such as hotels and warehouses. It is still difficult to give any volume investments and total areas of future projects,” he said. He also noticed that the Company will look for perspective projects in other regions, Moscow, in particular.
