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Russia Invest and SRV Yhtiot Oyj's Joint Okhta Mall Project Receives Building Permit

Friday, 9 Aug 2013 08:00am EDT 

SRV Yhtiot Oyj announced that Russia Invest’s and SRV’s Okhta Mall shopping centre project has received a building permit from St. Petersburg city authorities. The building permit enables to finish the financing arrangements as well as the commencement of the construction work. The total value of the Okhta Mall shopping centre investment is around EUR 250 million. The scope of the shopping centre project is 144,000 square meters (m2), of which around 75,000 m2 is leasable space. Two underground parking levels plus a hypermarket and four floors above ground will be built at the shopping centre. The shopping centre, located in the city centre of St. Petersburg, will open in spring 2016. Okhta Mall project is the first phase of the Septem City project that is developed by SRV. In June, SRV sold a 55% stake in Okhta Mall to real-estate investment company Russia Invest owned by Finnish investors. 

Company Quote

27 Nov 2014