Renaissance Development

Renaissance Development is a major full complex service company in the field of land development, investment, construction and reconstruction, management and divestment of real estate assets in the Russian property market. We dedicated to achieving new standards of innovation and maintaining high integrity in all our activities. As we have great ex... perience on the Russian real estate market by focusing on the St.Petersburg office market we note some trends. The modern real estate market in St. Petersburg was virtually non-existent a few years ago, when we considered building our first business center, Sovetskaya Renaissance House-1. Today, the office market is one of the most dynamic and interesting segments of the commercial real estate market in St. Petersburg, as a result of continued growth in the last five years. In 2006, investors concentrated heavily on developing Class A and Class B business centers, emphasizing prestigious location, sophisticated engineering systems, construction materials, effective layouts and professional property management. According to the real estate researchers, the sum of Class A and Class B office areas in the city increased by 30% and the Class A office areas were doubled. Business centers are maintaining occupancy rates of close to 100%. Despite the expansion, there is no significant change in the vacancy rates and most of the business centers are maintaining occupancy rates of close to 100%. The Sustained GDP growth and increasing foreign investments in Russia are the most favorable explanations for the expanson in demand for quality premises. There is also increasing economic activity in the city, due to the continued trend of large Moscow-based state and international companies moving their operations and businesses to St. Petersburg. All our activity is focused on creation of Business SUCCESS for our clients and for our environment. We will continue to work toward innovative solutions to our societyeconomic, social, and environmental challenges. What we build is based ...Read More