Jones Lang LaSalle has been appointed as an exclusive consultant for the redevelopment and expansion of Terminal 2 at Sheremetyevo International Airport, Moscow, Russia. The company will provide specialist advice on financing, as well as concept development and masterplanning for this €235 million, 90,000 m² aviation and mixed-use project.
"This is a landmark project, with impressive expansion plans that will not only improve the City of Moscow's infrastructure but will benefit the entire country. We are confident that our contribution will assist in achieving world class recognition for Moscow's main airport." said Michael Lange, Chairman of Jones Lang LaSalle, Russia & CIS. "Jones Lang LaSalle has the local expertise and track record, as well as the resources of a global real estate advisor to bring to this venture and ensure it yields superior results."
It is estimated that the cost of the first phase of the development will be €141 million and the entire project is likely to total €235 million (approx). In terms of financing the project Jones Lang LaSalle will be responsible for structuring the deal, identifying efficient capital deployment for the Airport and developing a widening exposure to international and local Russian capital partners. The loan facility will be against the balance sheet of Sheremetyevo International Airport and will be supported by the cash flow from Sheremetyevo's operations.
Jones Lang LaSalle has a wide experience working with large-scale real estate developments around the globe. In particular, the company has advised on some of the biggest airport projects in the world, including O'Hare (Chicago), Sidney International, Chek Lap Kok (Hong-Kong), and Aeroports de Paris.
Source: Jones Lang LaSalle