Budapest-based TriGranit Development has teamed up with Gazprombank's real estate unit to enter the Russian market. The two companies have set up a new joint venture to build shopping malls, offices, hotels and logistics centres in cities including Moscow and Saint Petersburg, Hungarian newspaper Napi Gazdasag reported.
Budapest-based TriGranit Development has teamed up with Gazprombank's real estate unit to enter the Russian market. The two companies have set up a new joint venture to build shopping malls, offices, hotels and logistics centres in cities including Moscow and Saint Petersburg, Hungarian newspaper Napi Gazdasag reported.
Gazprombank-invest, a real estate developer unit of the Russian gas company, and the property developer TriGranit will each invest EUR 768 mln in the venture, and will take out some EUR 5.38 bn more in loans. TriGranit, headed by Sandor Demjan, one of Hungary's most successful businessmen, plans to invest EUR 8 bn, including the deal for Russia, in 10 countries in the coming years.
