Sandor Demjan, chairman of Budapest-based real estate developer Trigranit, signed a cooperation agreement with St. Petersburg governor Matvienko Valentina Ivanovna on 7 December to carry out two large-scale urban development projects in the city with a total investment volume of EUR 500 mln.

Sandor Demjan, chairman of Budapest-based real estate developer Trigranit, signed a cooperation agreement with St. Petersburg governor Matvienko Valentina Ivanovna on 7 December to carry out two large-scale urban development projects in the city with a total investment volume of EUR 500 mln.

The first project is the multifunctional Badajevszkij shopping and exhibition centre. Built on 28 hectares, it will incorporate retail, residential and office buildings, hotels and a congress centre. Trigranit will also develop the Telefabrika media centre on the Vasiljev Island as a full-service film studio for the television and film industry.

Trigranit operates in 11 countries in Central and Eastern Europe and has a pipeline of more than EUR 8 bn worth of major mixed-use developments.