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Andrey Birzhin: ‘We Are Ready for Cooperation with the Business Community of the Asian Pacific Region‘

Andrey Birzhin’s Glorax Group of companies is having negotiations with the largest investment groups from China on joint projects in the field of industrial and commercial real estate.

The Glorax Group representatives have visited the P.R. China and have had a series of meetings with Chinese business circles. The negotiations concerned potential cooperation in the sphere of investments into the segment of Russian commercial real estate (offices, warehouses and retail spaces) as well as expanding the range of supplied industrial materials.

The parties have outlined the most promising common points of business interests.

‘A series of negotiations has proved that the time is ripe for the decision to establish interaction with the business community of the Asian-Pacific region. The parties show consistent mutual interest and see ample opportunities for partnership. As far as we are concerned, we are ready to render our assistance to foreign companies willing to enter the Russian market and create a platform for accomplishing their projects in Russia’, said the founder of the Glorax Group Andrey Birzhin.

Statistics show that China is one of the key players on the global market of investments and Russia is one of the priority destinations for them.

Thus, in the first six months 2017 the Chinese investments into Moscow real estate were estimated at USD 170 million.

Companies and funds from the Celestial Empire have closed several major deals this year and have become the major and the only investor on the Russian capital’s commercial real estate market since the early 2017.

Compared to 2016 the Chinese investors’ interest to our country has dramatically surged and the trend of further growth remains. Potential amount of investments from China to industrial and commercial real estate in the Russian Federation is estimated by experts at several billion US Dollars. Also, according to researches 57% of Chinese companies are planning to expand and diversify their investment portfolio. Chinese investors are traditionally attracted by power generation and metallurgy spheres, commercial real estate, transport and tourist sectors, high technologies.

The Glorax Group is a group of companies with a direct investment fund founded by the Russian investor and CEO Andrey Birzhin in 2014. One of the parts of the group is the Glorax Development, the company involved in development of residential complexes, commercial real estate as well as social infrastructure facilities. It is one of the TOP 10 Saint Petersburg developers. At present in the Glorax Development’s project portfolio there are over two million sq.m of spaces. It is present in the following regions: Saint Petersburg, Moscow and the Moscow Region. Other members of the Glorax Group are one of the largest Russian manufacturers of electroinsulation materials Electroizolit, infrastructure development companies, organizations with social and innovation profiles.