At the end of 2010, Raiffeisen evolution started construction on a hotel and office building on Leninskiy Prospekt 119 in the Russian capital. Recently the topping-out ceremony was held in Moscow.
"We are well on target with the work, and are already carrying out negotiations with a potential investor," explains Markus Neurauter, Managing Director and spokesman of the management board of Raiffeisen evolution.
Modern und sustainable office space
The Vienna-based developer with a branch in Moscow and one in St. Petersburg is realizing a modern and sustainable office building with attached hotel on Leninskiy Prospekt.
The office part offers over 16,000 m² of rentable space and an impressive ground-floor level gallery that extends up to the second floor.
"The area is an up-and-coming business quarter, and we construct a sustainable building according to Western standards here," says Neurauter. "For this reason, we have designed open spaces that provide a view of green areas and so create an agreeable atmosphere. Not just for the future clients of the hotel."
The reinforced concrete construction work on the office and the hotel building has been completed. The masonry on first to the eighth floors is currently being worked on; the facade work will be completed by the end of September, and directly afterwards fit-out for tenants will be started in order to complete it at the end of 2012 as scheduled.
Aiming for certification
"As already done in Austria and meanwhile in Romania as well, we want to have this project certified according to the guidelines of the Austrian Sustainable Building Council (ÖGNI) as well," says Dipl. Ing. Gerald Beck, MRICS.
The paradigm shift from the Green to the Blue Building is about the development away from mere energy efficiency to holistic sustainability. Economy, ecology and also technical performance as well as socio-cultural aspects, the, sparing use of resources and energy play a leading part in this just like the consideration of financial and human needs.
"Certified real estate clearly increases the value of a project and is meanwhile more vigorously requested by investors as well," is how Neurauter explains the decision.
Russia is the current hotspot of the real estate business. Among others, this is demonstrated by a study published recently by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI).
"People invest in Russia, even the Chinese show great interest," adds Neurauter. "For us, the realization of a sustainable building in Moscow is an investment in the future, and the demand for high-quality space will continue to increase."
Source: Raiffeisen evolution