LSR Group became the winner of the auction for the redevelopment of the southern part of ZiL territories in Moscow. It is planned to build 1.5 million sqm there.
OOO Razvitie, a joint venture of LSR Group and AFK Sistema, has won the auction for the right to acquire 100% of OOO ZIL-Yug for RUB 34.2bn (including LSR Group's share of RUB 17.1bn). According to the terms of the auction, the acquisition cost is to be paid in installments over the period of eight years. The down payment of RUB 1.5bn has been already provided, which covers the installments for 2015-2016. As a result the first installment worth RUB 2.5bn is to be paid in 2017. OOO ZIL-Yug is the owner of the rights for the redevelopment of 109.9 hectares in the southern part of the former territory of ZiL plant (plot 23, Avtozavodskaya Str.). The project implies construction of 1.5 million sqm of real estate, including 1.1 million sqm of housing, 0.35 million sqm of commercial real estate and 0.05 m sqm of the related amenities. The project will be divided into seven phases and fully completed by December 31, 2026. The pre-sales in the southern part of ZiL will start in 2017.
The investments into the project will amount to RUB 135bn. The expected revenue - RUB 200bn.
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