The Tver region government and JSC OPIN has entered into a cooperation agreement in relation to the Large Zavidovo integrated development of the territory. The agreement was signed by Mr. Dmitriy Zelenin, the Governor of Verkhnevolzye, and Mr. Sergey Bachin, General Director of JSC OPIN.

The regional government places high emphasis on attracting large-scale investors, such as OPIN, in Verkhnevolzye. According to Mr. Dmitriy Zelenin, Large Zavidovo project realization will bring new life to Mokshino and will give rise not only to the development of the Konakovo district, but to the whole region. The Governor is confident that the project deserves obtaining governmental support, including participation in the subprogram “Development of communal infrastructure for residential communities”.   
Approximately 1,300 hectares of land of the Zavidovo project are located in Tver Region on the shores of Ivankovskoye reservoir, approximately 100 kilometers from Moscow on the Leningradskoe Highway.

Leading international master planners were involved in the development of the master plan for the site: architect firm EDAW (www.edaw.com) and international engineering firm Buro Happold. OPIN has also engaged Economic Research Associates (ERA- www.econres.com), a respected leisure and tourism industry consulting firm, to advice on the project concept development and economic analysis.

 

The General Plan assumes that an integrated development of the entire territory of Mokshino village in Konakovo district of Tver region will be completed by 2028. Town population is expected to reach 29 thousand people in 2028, amounting to 19 thousand people by 2018 (the first stage of the development). 

 

The Project aims at development of five districts of Mokshino community with a wide range of properties. Large Zavidovo will supply detached homes with land plots as well as apartments in  multi-apartments buildings.  Significant attention will be paid to the development of the public and social infrastructure: kindergarten, schools, hospitals, sports and recreation facilities. Separate area will be zoned for the development of business parks and business centers, representing an attractive location for high-tech companies.

 

The Project assumes:
• Development of up to 1,500,000 sq m of new residential space.
• Residential housing by the end of first stage reaching 825 thousand sq m.
• Up to 80 thousand sq m of average annual commissioning.
• Site improvements with development of full engineering infrastructure.
• Creation of up to 20-30 thousands of new workplaces.
• Up to 2 billion rubles of incremental tax revenues for the regional budget per annum.
• Development of more than 100 km of new street and road transport network.

 

According to Jones Lang LaSalle report prepared in accordance with International Valuation Standards, market value of approximately 1,313 hectares of land located at Zavidovo in Konakovo district of Tver region is estimated at US$ 956 million as of 31 March 2008.

Mr. Sergei Bachin comments that integrated development of the territory is one of the strategic priorities of OPIN. Development of large-scale mini-towns, providing attractive social infrastructure, including kindergartens, school, public health facilities, open sports and recreation amenities has great prospects.  In addition this will create new workplaces, new road network and new residential housing.

 

Regional government plans to provide assistance to the project in obtaining necessary approvals following the principle of “one window”. It will also assist in getting access to regional and federal support programs.