Investors dispersed to technology parks – Kommersant FM
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In Moscow, free places in technology parks have run out – vacancy in industrial complexes has approached zero for the first time in history, experts said at a seminar on the capital’s business infrastructure. This situation is partly explained by the fact that developers do not have time to build new facilities, since it is too expensive to take out loans for construction.
It is for this reason that developers are asking to develop an industrial mortgage for them, noted Denis Zhuravsky, executive director of the Association of Industrial Parks of Russia: “For the first time in the history of industrial infrastructure development, our demand for finished space has exceeded supply. For the previous 12 years there was always a very large vacancy. We always balanced 50/50.
Geopolitical changes and, in general, the shifts in the world economy that have occurred required very rapid localization, rapid substitution, and a specific short demand arose that did not exist before.
People have stopped planning three years in advance for the construction of their own buildings and waiting for a professional developer to build facilities for them. They come and say: “We are ready to rent or buy a property in literally the shortest possible time.”
Why aren’t technology parks built to meet this demand? A couple of years ago, we launched an industrial mortgage mechanism. It is now available to both manufacturing companies that want to, for example, purchase a building. But for management companies there are still certain difficulties, because at the current key rate it has become economically infeasible to finance the construction of industrial infrastructure with a payback period of more than seven years using borrowed funds. Therefore, of course, there is an urgent need to extend industrial mortgages to management companies of technology parks, industrial parks and industrial complexes.”
According to experts, it will not be possible to close the shortage of specialized sites for several more years, and this makes technology parks a new attractive tool for investors. Moreover, the profitability of investments in industrial facilities already exceeds the indicators in other segments – in residential, warehouse or office real estate, confirmed NF Group partner Konstantin Fomichenko:
“The area has not increased, at least in the last couple of years, for general economic reasons. If a light industrial facility is being built, it is filled to more than 50% during construction.
In fact, the volume of transactions in this market will very much depend on the commissioning of such premises. From an investment point of view, this becomes even more interesting than investing in the construction of class A warehouses. Therefore, the prospects for private investors in the light industrial segment are quite good.”
Entrance to the technology park as an investor is available even to a novice player, experts say. You can buy either square meters or a share, which will be managed by professionals. Moreover, such an asset is considered more reliable than analogues in the field of business real estate: for example, production sites did not stop working even during lockdowns during COVID-19.
At the same time, the size of the investment is comparable to buying an apartment in Moscow, noted Ricci partner Yana Kuzina: “The cost per square meter in the light industrial segment ranges from 100 thousand rubles. up to 120-130 thousand rubles. Thus, having 20-30 million rubles, you can invest in this project. You can invest, for example, by buying a project directly from the developer: there are specialized companies that do this. And you can purchase, for example, such an asset in the form of a share, which will be managed by a specialized fund.
Our rental rates for such premises already exceed the prices for decentralized offices. Firstly, this segment is not yet so popular, and, secondly, it is much more difficult for production, once it has settled in a technology park – equipment has been imported, workers have been hired – to move.
So the segment as such, I think, will grow and advance. Technology parks are now wildly popular.”
Now there are more than 50 technology parks in the capital, with more than 2 thousand companies operating on these sites. The status of a technology park allows investors to receive benefits on several taxes, as well as reduce the land rental rate. Over the past eight years, the volume of investment in the development of Moscow technology parks has amounted to 85 billion rubles, according to the mayor’s website. In total, there are more than 130 technology parks in Russia, which operate in various fields – from agricultural production to microelectronics and robotics.
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