The largest professional regional shopping center «Pearl Plaza» in the south-west of St. Petersburg, which is part of the residential area «Baltic Pearl», has completely formed a pool of key "anchor" tenants. The joint venture «Pearl Plaza» is the customer and the developer of the project. The Finnish SRV Group is acting as the main contractor. Colliers International St. Petersburg is the exclusive broker of the project.
St. Petersburg, 5 July 2012. As a result of the lease campaign of the «anchor» tenants selection contracts were signed with major federal and international retail operators: the electronics and household appliances hypermarket «M.Video» (2163 sq. m.), and the children's goods hypermarket «Detskiy Mir» (1226 sq. m.).
The federal cinema network «Formula Kino», which is opening its second multiplex in St. Petersburg - a 5000 sq. m. cinema, is going to be an entertainment anchor tenant in the shopping center. The PRISMA hypermarket (7600 sq. m.) is going to act as a grocery anchor tenant, which signed a lease contract in March 2011.
At the current time, the shopping center «Pearl Plaza» has been completed to 42% of its total leasable area. At the following stages of the lease campaign Colliers International is planning to determine the fashion anchors and mini-anchors, as well as restaurant operators by the end of summer 2012. Patisseries, coffee-shops, and eateries on the first floor and a panoramic 1000 square meter restaurant with a view onto the Matisov Kanal and the Gulf of Finland are also planned for the shopping center.
The total area of the shopping center, which is part of the first phase of the multifunctional complex «Pearl Plaza» comes to 94,000 sq. m, and the global leasing area is 48,000 sq. m. The interiors are being designed with the participation of the Finnish "Larkas and Laine" architectural bureau. By September 2012 the complex is going to be built entirely under one roof. The opening of the new shopping center on the Petergofskoye Shosse is planned for the summer of 2013.
The shopping center «Pearl Plaza», which is a joint investment project by the Chinese investor «The Shanghai Industrial Investment Company» and the Finnish SRV Group is centrally ranked not only in the «Baltic Pearl» residential district, but also on the map of the Krasnoselskii District of St. Petersburg. Undeveloped modern retail is currently present in this part of the city and there is a lack of a single "place of attraction" for families to go to for relaxation and shopping. This accentuates the future potential of the complex and is a determinant for the major operators being mobilized in this project.
Jussi Kuutsa, managing director of «Pearl Plaza»:
«The project is being fulfilled on schedule. The shopping center opening is planned for the end of summer 2013. We are especially pleased with the high demand for the premises in our mall. I suppose that this is due not only to the fact that the shopping center is going to be property on a city scale, but also to the fact that there is a shortage of shopping centers on the construction market just now».
Alexander Sayapin, Managing Director of the «Formula Kino» cinema network:
«Formula Kino» entered St. Petersburg market two years ago with the opening of its indicative cinema in the city. Since that moment we have remained committed to the principle of cinema building only in the best shopping centers. The shopping center «Pearl Plaza» fully meets this criterion.
In our opinion there are not enough cinemas in the south-western district of the city. We will provide its residents with the best quality movie showing and a high quality service in our modern 10-hall multiplex.
Furthermore, the concept and the ambition of the project allow us to expect that the cinema is going to attract an audience from other parts of the city. Our confidence in the success reinforces the neighborhood with other market leaders in their segments, which are being selected by Colliers International, the recognized consulting and brokerage authority».
Teimuraz Shengelia, Deputy Managing Director of «Detskiy Mir» Network Development:
«The «Detskiy Mir» network is actively developing regionally: only this year at least 50 shopping centers will be opened in Russia and Kazakhstan. The stores have had their concept rejuvenated, they have become even more visitor-friendly. The bright design of the sections and their strong placement in the store together with their well thought out lay-out will enable customers to quickly find the items wanted while enjoying shopping.
St. Petersburg is one of the most promising cities in the company`s development plans, and we have great expectations for our new store in the «Pearl Plaza» shopping center».
Anna Nikandrova, Director of the Retail Property Department, Colliers International St. Petersburg:
«The «Pearl Plaza» shopping center is a symbol of a new quality of living standards. The professional concept of the project, well thought out logistics, memorable interiors and a location in a park area with modern buildings will make this place popular for shopping and recreation among the residents of the south-west district of St. Petersburg, as well as among those from satellite towns. 90% of the complex will be filled by the largest network operators, but we will add as a little zest to the project with designer boutiques and non-network stores».
About the company:
The public corporation «Pearl Plaza»
The public corporation «Pearl Plaza» is a joint venture by the Chinese investor «The Shanghai Industrial Investment Company», which is a multinational corporation with more than 7 billion euros in annual turnover, and one of the largest investment and construction company in Finland - SRV Group, which has been successfully implementing projects for 25 years. The company «Pearl Plaza» was founded by the partners in St. Petersburg for the multifunctional «Pearl Plaza» project implementation in one of the largest residential areas - «Baltic Pearl».