Sun Investments Partners has reportedly acquired a 20,000 m[sup]2[/sup] shopping centre project and the adjacent plot of land offering 12,000 m[sup]2[/sup] in central Novosibirsk, Russia from developer Rid Group. The transaction price amounts to some $30 mln (EUR 20 mln), Russian newspaper Kommersant has reported.
Sun Investments Partners has reportedly acquired a 20,000 m2 shopping centre project and the adjacent plot of land offering 12,000 m2 in central Novosibirsk, Russia from developer Rid Group. The transaction price amounts to some $30 mln (EUR 20 mln), Russian newspaper Kommersant has reported.
Sun Investments, founded by entrepreneurs Sergei Lomakin and Artem Khatchaturyan, the owners of the Kopeika retain chain, plans to invest a total of $100 mln to complete the Omega Plaza mall project. The company intends to extend the complex to provide a total of 90,000 m2 of commercial space across four floors.
Construction of the new project is planned to start in spring 2010, with delivery scheduled for 2013.
Located at the heart of Novosibirsk, the Omega Plaza centre was started in 2007 and abandoned a year later when development stalled due to the lack of funding. Rid Group put the project on the market in October last year with an asking price of $80 mln.
