Hals-Development and Agency for Housing Mortgage Lending Sign Purchase/Sale Agreement
On November 1, 2017, Hals-Development and the Agency for Housing Mortgage Lending signed a Purchase/Sale Agreement for the office space with a total area of 74,655.1 sq m and 327 parking spaces with a total area of 4,608.9 sq m at the multipurpose IQ-Quarter (Moscow-City, 10 Presnenskaya Embankment, Bld. 2). The cost of the real estate property is 24,898,221,500.00 rubles. The fair market value of the real estate was determined by an independent assessor, KPMG.
“Hals-Development has extensive experience in selling top-level real estate and we are justifiably proud of the high level of our new project – the IQ-Quarter business complex. We are happy to have contributed to the creation of an urban landmark for Moscow that proves to be so highly sought after. The IQ-Quarter business complex meets in full the international A-class office standards in terms of its infrastructure, security, modern layouts and arrangement of public space,” comments Sergey Kalinin, President of Hals-Development.
“IQ-Quarter is a modern complex in Moscow-City. This real property is the best choice for our project. It has an advantageous location even compared to other buildings in Moscow-City in terms of its accessibility by transport, immediate availability of important infrastructure and public space,” says Irina Balkarova, Managing Director of AHML.
Subject to the agreement, Hals-Development will deliver the non-residential premises and parking spaces to the Agency for Housing Mortgage Lending before November 30, 2017. The tower premises will be reserved for the federal executive bodies of the Ministry of Economic Development and Trade, Ministry of Industry and Trade, Ministry of Communications and Mass Media, and their subordinate agencies, to be located in a single property complex.
On October 2017, Hals-Development obtained a commissioning permit for the second stage of the multipurpose IQ-Quarter (10 Presnenskaya Embankment, Bld. 2), which includes two office towers and a multipurpose terminal complex in Moscow-City. The commissioning permit has been issued by the Moscow State Construction Supervision Committee. The second stage has a total area of 128,290 sq m, the terminal complex area is at about 3,000 sq m.
With a total area of 228,000 sq m, the multipurpose IQ-Quarter includes three towers of various heights (21, 33, and 42 floors) and a multipurpose terminal complex. Its façade solutions, displaying a dynamic intermixture of natural stone and glass, have been designed by NBBJ East LLC, a US-based architectural bureau. The two 33 and 42-story buildings are reserved for class-A offices. The third 21-story tower offers 207 premium apartment suites. The apartment tower and the 5-level underground parking garage with 716 parking spaces were commissioned in late 2016. The residential building in the IQ-Quarter is managed and operated by Colliers International.
About the company:
PJSC Hals-Development is a fast-growing real estate development company that specializes in commercial and residential real estate and controls all stages of a project life cycle, from concept development to further management of finished facilities. The company’s principle shareholders are VTB Bank and the Bank of Moscow.
The company is one of the 5 largest real estate developers in Moscow. The total area of the development projects implemented by Hals-Development is 1.6 million sq m. In 2014 and 2015, the company made use of over 200,000 sq m for its projects: the Children’s Dreamhouse Mall on Lubyanka, the Kamelia resort complex in Sochi, Literator Elite Residential Quarter and the loft apartment complex in the elite Wine House Quarter in Moscow.
The company’s portfolio includes: the LETO Shopping and Entertainment Complex in Saint Petersburg, the SkyLight Business Center, the Danilovsky Fort business center, the Peking Hotel, the development of the Peking Gardens residential quarters, Wine House, Teatralny Dom, Nasledie, Iskra-Park, the development of the 11th area of the International Business Center Moscow-City (IQ-Quarter), and other projects in Moscow and other regions of Russia.
The company’s income from sales and rent of real estate in 2014 and 2015 was about 48 billion rubles.