US architects to develop design concept for Mozaica by TriGranit

02 Jun '08

3 min read

“Mozaica presents a unique opportunity for TriGranit to secure our first retail flagship project in Moscow – a city with an ever growing demand for high quality retail property. Having a team of worldclass developers and architects involved with the construction of the new shopping centre will ensure that future visitors will be able to enjoy a unique shopping experience”, said Sándor Demján, Chairman of TriGranit Development Corporation.

He added: “Since entering the Russian market, TriGranit has been continuously looking for prominent business opportunities. Mozaica provides TriGranit with exactly the kind of platform for expansion in Russia that we are looking for. I would like to take this opportunity to thank our consultants, Salans, Squire, Sanders & Dempsey and Jones Lang LaSalle Retail Capital Markets, for making this deal possible.

I am confident that Mozaica will become of major success for us, our fellow investors as well as future tenants of Mozaica.”

TriGranit entered the Russian market as a partner of Gazprombank-Invest in January 2007 announcing its plans to invest €5 billion in Russia. In September 2007, TriGranit purchased a 50% stake in Torgoviy Kvartal, a well-known Russian retail developer. This partnership is expected to result in over €1 billion worth of new projects in Russia.

Besides the Mozaica development project announced, TriGranit has a number of additional projects in the pipeline in Russia; together with Gazprombank-Invest it plans to develop a project in Krasnodar with an estimated value of over €2 billion. The company is further working on two exciting projects in St. Petersburg – the Badajevszkiy shopping and exhibition center and the Vasiljev Island Project, where the former Telefabrika complex will be transformed into a large-scale media center.

TriGranit is a fully integrated real estate investment, development and management company and the third largest property developer in Europe. The company is headquartered in Budapest and has offices in Bratislava, Warsaw, Katowice, Bucharest, Ljubljana, Cluj, Zagreb, Belgrade and Moscow.

TriGranit Development Corporation