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Tashir appoints Colliers International to be the management company for RIO shopping centre in St. Petersburg

Tashir Group, a leading developer on the Russia commercial real estate market, and the international consultancy Colliers International signed an agreement on the management of the RIO shopping & entertainment centre in the Frunzensky District of St. Petersburg. The team of Colliers International assumed management of the property on October 1.
Colliers International will be responsible for the full scope of commercial management services for the RIO shopping & entertainment centre and increasing of its net operating profit, including but not limited to such aspects as lease relations and tenant rotation, commercialization, project marketing, financial reporting, and guest services.

Sarkis Karapetyan, Vice President of Tashir Group: “The team of Colliers International proved itself a reliable partner during the brokerage of the RIO shopping & entertainment centre in St. Petersburg, ensuring a high occupancy rate during the opening of the centre in 2012. So our choice for the management company was a logical continuation of this cooperation. RIO has great potential and we hope that the strong expertise and profound knowledge of the St. Petersburg market which the Colliers’ team possesses will breathe new life into the project and facilitate its successful development going forward.” 

Nikolay Kazanskiy, Managing partner, Colliers International Russia: “Colliers International has successfully worked with Tashir Group for many years. Our team served as the exclusive consultant for the first RIO shopping centre in Moscow, which is one of the key properties on the Moscow retail market. In St. Petersburg we were involved in the brokerage of the RIO shopping & entertainment centre in the Frunzensky District. And it is a great honour for us to manage this complex. We take pride in the fact that such a major Russian developer like Tashir Group has chosen our team and trusted us with the management of their property in the city on the Neva.”

Marina Tolstosheeva, Regional Director of Property Management Department, Colliers International Russia: “Tashir is a leading developer on the retail real estate market in Russia, and it has historically turned out that the company has been managing all of its properties itself before. RIO in St. Petersburg is the first retail complex where Tashir has outsourced the management. Our participation in this project as the management company is a sign of mutual trust and confidence in the results of our cooperation.” 

The RIO shopping & entertainment centre, which totals 63,000 sqm (GLA – 45,000 sqm), was opened in 2012. Today the centre’s occupancy exceeds 90%. The complex is situated in close proximity to the Bukharestkaya metro station and its primary catchment area includes 800,000 residents. More than 1 million people live within a 15-min drive of the centre. Anchor tenants include such retailers as O’KEY, H&M, Reserved, Detsky Mir, Snow Queen, L’Etoile, MotherŅare, Gloria Jeans, Nash Dom, Eldorado and others. The centre’s parking facility can accommodate up to 2500 cars.