Trigranit has signed an agreement to purchase a 50% stake in Torgoviy Kvartal Group, a developer of shopping and leisure centres in the Moscow area. The partnership will tap into the growing potential of the Russian market and bring to life new projects valued at more than EUR 1 bn in the coming years,' the partners said. Budapest-based Trigranit is one of the largest real estate investment, development and management companies in Eastern Europe and is working on 30 projects across the region that have a total investment value in excess of EUR 8 bn.

Trigranit has signed an agreement to purchase a 50% stake in Torgoviy Kvartal Group, a developer of shopping and leisure centres in the Moscow area. The partnership will tap into the growing potential of the Russian market and bring to life new projects valued at more than EUR 1 bn in the coming years,' the partners said. Budapest-based Trigranit is one of the largest real estate investment, development and management companies in Eastern Europe and is working on 30 projects across the region that have a total investment value in excess of EUR 8 bn.

Commenting on the acquisition, Sándor Demján, president of Trigranit Development Corporation, said, 'being absolutely confident that Russia is on the way to prosperity, we've been continuously looking for prominent local partners to help us achieve our growth strategy in the country. This transaction provides TriGranit with a platform for expansion, strengthening our access to a highly perspective Russian market, and a gateway to new opportunities'.

The current project portfolio of Torgoviy Kvartal including shopping and leisure centres in Naberezhnye Chelny, Nizhni Novgorod, Omsk and Domodedovo in Moscow region.