Russia's Crocus Group announced the opening this week of its Vegas retail and leisure centre in Moscow. With over 300 shops and a 400,000 m[sup]2[/sup] surface area, the property represents Russia's largest shopping mall, Crocus said.
Russia's Crocus Group announced the opening this week of its Vegas retail and leisure centre in Moscow. With over 300 shops and a 400,000 m2 surface area, the property represents Russia's largest shopping mall, Crocus said.
The scheme involved development costs of nearly $600 mln (EUR 490 mln), and was financed with a $375 mln loan granted by Sberbank.
Located on the southeastern edge of Moscow, Vegas was designed by architects KlingStubbins and is anchored by Auchan Group which has taken 21,000 m2, with other major retailers including Tvoy Dom complex (60,000 m2), Media Market, M-Video, Zara, Oysho, Massimo Dutti, Bershka, Stradivarius, Pull&Bear. It is linked to a theme park with 5,000 m2 of attractions and a Luxor multiplex cinema.
Art Properties is the exclusive leasing agent of the centre.
According to Crocus Group's president Aras Agalarov, the company has plans to develop another two Vegas centres in Moscow, Vegas Crocus City and Vegas Kuntsevo, which are expended to start operating in two or three years.
Crocus City is the group's landmark development project which features a combination of trade, entertainment and exhibition spaces in an integrated complex. It consists of the Crocus Expo International Exhibition Centre, a 225-room Aquarium hotel, a multifunctional congress and concert Crocus City Hall, and a Crocus City Mall shopping gallery.
