Krasnodar Eurostroy wants to buy the site in Lefortovo in Moscow from Yusufov
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The Moscow development market, characterized by higher margins compared to other Russian regions, continues to attract developers from other cities. Thus, the Krasnodar developer Eurostroy, which owns, in particular, the Grand Marine Garden hotel in Sochi, plans to buy from businessman Vitaly Yusufov a site in Lefortovo in the southeast of the capital, where it is possible to build 200 thousand square meters. m of housing. However, there are now other contenders for the project.
SZ “South Sea” LLC filed a petition to acquire 100% in SZ “Tankovy” LLC, found “Kommersant” in the database of decisions of the Federal Antimonopoly Service. On the balance sheet of “SZ “Tankovy””, owned by Vitaly Yusufov, there is 8 hectares in Tankovy Proezd in the south-east of Moscow. The businessman’s representative declined to comment.
“NW “South Sea”” is owned on a parity basis by Sofia Toros and Nikolai Shikhidi, who, in turn, owns the Krasnodar company “Eurostroy”. The total volume of projects implemented by Eurostroy in Sochi, Gelendzhik, Novorossiysk and Anapa reaches 654 thousand square meters. m of housing. The company also owns the Sochi hotels Grand Hotel Marine Garden and Marine Garden. Eurostroy did not respond to Kommersant’s request.
Vitaly Yusufov is the son of Igor Yusufov, who served as Minister of Energy in 2001–2004. Previously, the businessman controlled Osnova Telecom, which developed the LTE network in Russia, and the shipbuilding company Nordic Yards. Now he is a co-owner of the online store “Eat Rustic”. Also at the end of 2023, Vitaly Yusufov received direct control over the project to build an elite residential complex near the Kremlin (see Kommersant on January 18).
This is not the first time a businessman has tried to sell a plot of land in Tankov Proyezd. In December 2020, the site was transferred to Inteko, but a year later it returned to the balance sheet of the structure, which is associated in the market with Mr. Yusufov. According to a Kommersant source in the real estate market, in addition to Eurostroy, a number of developers are now considering the purchase of this site. Another Kommersant interlocutor, familiar with the progress of the negotiations, knows that Eurostroy approached Vitaly Yusufov with an offer to purchase the site, but he is not ready to completely withdraw from the asset, but is looking for a partner. It is possible that Eurostroy will acquire a share of 25% to 49% in the project, he adds.
If the entire site is sold, the transaction amount could reach 14–15 billion rubles, says partner Ricci | M&A Petr Vinogradov. On this site it is possible to build 208 thousand square meters. m of housing. A house of 10.3 thousand square meters is already being built on part of this territory. m, indicated in the information system “Our.Home.RF”. Investments in construction, according to Mr. Vinogradov, could amount to about 30–33 billion rubles. The founder of Best-Novostroy, Irina Dobrokhotova, estimates the proceeds from the sale of apartments in the complex at 80–86 billion rubles.
Recently, regional developers have begun to actively enter the market of Moscow and the Moscow region. These regions are distinguished by a large volume of housing construction and good margins, states Managing Director of Metrium Ruslan Syrtsov. Developers from the Krasnodar Territory are showing the greatest activity. For example, at the beginning of 2024, Alias Group, which includes the regional developer Neometry, agreed with Capital Group on a partnership in the construction of complexes on Vernadsky Avenue and Sorge Street.
Dogma has been building a residential complex in Reutov, near Moscow, since 2023, and this year it started with a project in Pushkino. Last year, the structure of the Krasnodar AVA Group was not allowed to bid for the right to conclude an agreement on the integrated development of the territory of the production zone No. 47 “Vagonoremont” in the north of Moscow. However, as market participants say, the company still managed to buy a number of small assets in the capital.
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