DVI Builds Business Centers
The investment group DVI, specializing in the construction and management of reail-entertainment center in the Russian regions, acquired a business center in Moscow. The building's total space is 3,712 sqm. The transaction amount was 15,500,000 rubles. The company will let out 1,730 sqm of the space while the rest will be used for its own personnel. The rental rates will fluctuate between $480 and $800 per sqm per year. As they say at DVI, this is ther first office asset which will mark the beginning of class A, B, and C construction in regional cities. Business centers have already been designed and leased in Volgograd, Yekaterinburg, Perm, and Tyumen. The projects details heve not yet been disclosed. It is only known that the Tyumen business center will have the total space of 35,800 sqm. Its implementation will reportedly cost $32 million. Gross floor area in the Yekaterinburg business center will come to 11,585 sqm. The developer will have to spend $15 million on its construction. The 14,400-sqm office center in Perm will drain $18 million from the developer's coffers. This property is being realized in partnership with Tekra on an equal footing. The construction of said business centers will commence in the second quarter of the next year. Business centers will also be developed by DVI in Izhevsk in the second half of 2009, as well as in Tyumen, and in Moscow in the first half year.