Indian investors have paid attention to St. Petersburg

The main goal of the delegation’s visit was to explore the entry opportunities on the commercial real estate and housing market in the North Capital and to arrange a series of meetings with leading professionals in the real estate market and government officials.

The business program was held on the 5th of October in the conference hall of “Kempinski” hotel. The general director of Maris | part of the CBRE Affiliate network, Boris Moshensky, and his deputy, Nadia Ermishina, presented key indicators and tendencies in the commercial real estate and housing market. ”The greatest interest to our Indian colleagues were questions related to the level of protection of foreign investments in Russia, what type of property is in highest demand in St. Petersburg”, - comments Boris Moshensky, general director of Maris | part of the CBRE Affiliate network.

Leading lawyers at the international law firm Dentons, Olga Uryupinskaya and Oleg Lovtsov, shed a light on the legal aspects of activities of foreign investors in the Russian Federation, and also on the characteristics of the St. Petersburg real estate legislation. Much attention was paid to possible characteristics of the legal status of land plots and their use for construction, questions regarding long-term lease and its differences from ownership, as well as the procedure of setting up a legal entity under Russian legislation. ”During the event, we tried to briefly, but as fully as possible unveil the most important legal aspects, which are necessary for a foreign investor in order to navigate on the Russian market. We were asked very precise questions and there was an interest in details, which, we believe, reflects an interest in doing business in Russia” – says Olga Uryupinskaya.

As part of the business program, a meeting was held with the Investment Committee of St. Petersburg, during which entry opportunities for strategic investors in the St. Petersburg market and preferences, which this status gives, were discussed. Also, the committee presented major public-private partnership projects in various fields. In particular, a treatment and rehabilitation complex on Slavyanka for 23,7 million € and a perinatal center with 200 places on Ul. Vavilovych, project scope – 125,5 million €.

The Indian investors could in more detail familiarize themselves with the landmark projects of the St. Petersburg real estate market on the 6th of October at Property Tour, which also Maris organized. As part of the tour, the delegation visited business centers, housing projects and shopping malls in the city, where the participants in an informal setting were able to ask questions directly to developers about project realization stages, construction costs and operating characteristics.

”Our company, as part of the collaboration with the leader of the global real estate market CBRE, is often involved in major international events. This gives us an opportunity to find new strategic partners for St. Petersburg, as well as for Russia as a whole. In recognition of our Indian colleagues, for the past year in India there has been a significant shift towards cooperation with Russia in the field of real estate. I am glad that St. Petersburg was recognized as one of the investment attractive cities. We are confident that the visit of the Indian delegation will contribute to revitalization and development of Russian-Indian relations”, - commented Boris Moshensky, general director of Maris, after the completion of the business program.