MAPIC: Enka unveils €340m mall project in Moscow

Turkish group Enka is to invest $450 mln (€336 mln) in the development of a mixed-use scheme offering 245,000 m2 of gross lettable area in the west of Moscow.

Kuntsevo Plaza includes a shopping and entertainment centre, with GLA amounting to 68,000 m2, an office tower and two residential skyscrapers. The complex is expected to be delivered in August 2014.

Designed by American architects Jerde Partnership, the project represents a redevelopment of a former shopping centre developed by Enka on the same site in 1997. The new scheme will offer over 250 shops spanning five levels, a two-level hypermarket with 15,000 m2 as well as a fitness centre, a multiplex cinema and 2,000 parking spaces.

'As one of the pioneer development companies in Russia which in the late 90’s opened the first multi-functional shopping centre, multiplex cinema and originally brought the IMAX experience to Russian consumers, we are very proud to continue our quest with the redevelopment of the first-ever Russian multifunctional shopping centre,' said Murat Duran, general director of Enka's Turkish subsidiary.

Jones Lang LaSalle and Knight Frank have been appointed co-exclusive leasing agents of the scheme.

Enka has been active in the Russian property market since the early 1990s and currently owns and manages 318,500 m2 of office space and 230,000 m2 of malls in the country.

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