Budapest-based Trigranit Development Corporation, announced on Wednesday that it is investing in the development of Mozaica Shopping Center in Moscow. The investment volume was not disclosed.
Budapest-based Trigranit Development Corporation, announced on Wednesday that it is investing in the development of Mozaica Shopping Center in Moscow. The investment volume was not disclosed.
The three-level shopping complex will have a gross lettable area of 64,000 m2 and will feature a hypermarket, electronics stores, a 9-screen multiplex, a food court, a car parking with 2,500 places.
Trigranit said Mozaica will open its doors in the fourth quarter of 2009. US architects Altoon & Porter, who previously designed the Atrium shopping centre, developed the concept for Mozaica. Russian Spectrum Holding is performing the project design. Trigranit's development partner is OST Group, a Moscow based development company.
'Mozaica presents a unique opportunity for Trigranit to secure our first retail flagship project in Moscow - a city with an ever growing demand for high quality retail property. Having a team of worldclass developers and architects involved with the construction of the new shopping centre will ensure that future visitors will be able to enjoy a unique shopping experience’, said Trigranit's chairman Sándor Demján.
Trigranit entered the Russian market as a partner of Gazprombank-Invest in January 2007 and announced its plans to invest EUR 5bn in Russia. In September 2007, The company purchased a 50% stake in Torgoviy Kvartal, a well-known Russian retail developer. This partnership is expected to result in over EUR 1bn worth of new projects in Russia.
