Company News

Two new Shopping Centers are to be opened in Kaliningrad with ASTERA participation

Wester Ltd. intends to commission another two objects with the total area of 60.000 sqm in Kalingrad: the Entertainment Retail Center “Wester” and the Business Center “Yantar’”. The investment volume will amount to more than 1.2. billion of rubles. The project consultant and broker is ASTERA, an alliance member of BNP Paribas Real Estate.

The Kaliningrad Region positive dynamics of development is characterized by the population growth, retail and wages turnover, industrial production activization, low level of unemployment and high percentage of tourists. In addition, Kaliningrad is one of the 11 Russian cities chosen to host the FIFA World Cup in 2018. These and other factors create a favorable environment in the region for the implementation of investment projects, therefore the Wester Company intends to develop modern city retail platforms, which are two big Retail Centers to be commissioned in 2015 in the most profitable parts of the city. “Architectural concepts, great variety of products and design decisions will serve to the most unexpected and modern customers’ needs”, - the company emphasized.

The Wester Entertainment Retail Center of 34.000 sqm is one of the objects to be commissioned in the very populated and rapidly developing Leningrad region of the city with an address at Panino village, Gorky street. The project investment volume will amount to 688 million of rubles. The range of anchor tenants such as grocery supermarket of 6.000 sqm, home appliance store, fitness center, movie theatre, zone of household goods and appliances as well as family clothing shops is planned to be placed in this commercial area. The Entertainment Complex will be located on the upper floor. The project includes the implementation of the unprecedentedly broad variety of entertainment services for the region for children from the first year of life to 12 years. In general, this Retail Center will provide the population with the mass consumption products and daily services as well as with the opportunities for children and adults to spend their weekends as they like.

The Retail Business Center «Yantar» of 27.000 sqm is to be opened in the cultural and business center of Kaliningrad. The investment volume to the project amounts to 600 million of rubles. Three levels of seven will be occupied by the office space. The retail concept is to create an integrated supply of goods and services for health and beauty. Socio-demographic characteristics of the area are the basis for positioning in the segments of the "average +" and "premium" levels. Anchor tenants of the project will be gifts and interior goods, home appliances, business center, health and beauty center and fitness center as well. The Retail Center unique product offering is planned to be achieved through integrated services of wedding events, both in the form of goods and related services.

According to Svetlana Chernisheva, the ASTERA an alliance member of BNP Paribas Real Estate Project Brokerage Department Manager, every year the regional commercial real estate markets are getting more and more attractive to developers and retailers due to the high level of vacant premises in the big cities. “The great number of federal chain operators intends to carry out regional development, however not all local markets are now ready to collaborate with them today. The opening of another two Retail Centers in Kaliningrad will ensure the increasing number of the quality leasable premises and attract to the city major Russian and international brands as well as satisfy customers’ needs of these regions in the field of commercial infrastructure”, Svetlana stated.