GVA Sawyer will construct 10 outlet malls in Russia

Within the next 5-6 years company GVA Sawyer plans to construct 10 outlet malls in Russia - shopping centers, where it is possible to buy goods of the known companies at the reduced prices.

Within the next 5-6 years company GVA Sawyer plans to construct 10 outlet malls in Russia - shopping centers, where it is possible to buy goods of the known companies at the reduced prices.

At the press conference Vera Setskaya, the president of GVA Sawyer, has told that the minimal budget of one developed mall makes one about $70 million.

As it has become known, partially realization of the outlet malls’ construction program in Russia will be financed by GVA Sawyer, which also will act as the developer of these malls and will be engaged in search of tenants for them.

The remained assets will be involved from the group of investors of Europe and from company Fashion House. Fashion House will also become malls’ managing company after their construction.

In the beginning the network of malls will be develop in Moscow, Moscow suburbs and St.-Petersburg.

Real Estate Blog, 4 December 2008