Tashir group to build Moscow-Yiwu trade center

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Economy

06.10.2011, 20:41

Tashir group of companies of Russia-based Armenian businessman Samvel Karapetian and China's Shifen are building a shopping center in downtown Moscow.

YEREVAN, October 6. / ARKA /. Tashir group of companies of Russia-based Armenian businessman Samvel Karapetian and China's Shifen are building a shopping center in downtown Moscow. Called Moscow-Yiwu it will occupy an area of 100 thousand square meters, RIA Novosti news agency reported with reference to newspaper Kommersant. The newspaper says that the center will be a covered market for the sale of Chinese goods.

Tashir’s investments in the Moscow-Yiwu project (Yiwu is a city 300 kilometers from Shanghai) are estimated at 75% and the rest will be invested by Shifen. Tashir provided the land and building capacities and Shifen will organizes the trade, according to the newspaper. The newspaper says that the first phase of the center started this past April is scheduled to open in November 2011.

According to Tatiana Klyuchinskaya, regional director of Colliers International for commercial real estate, the construction and finishing of the center will cost investors about $200 million.

Tashir group of companies was founded in 1999, dealing with development and retailing (DIY-chain, Our House clothing stores, Fashion Alliance, SuperDiskont, etc.). It manages more than 850 thousand square meters of commercial real estate. -0-

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