Object location:  Russia, Sochi

Branch/sector: Development
Project start: 2002
Completion of the project: 2007

«Areda» - is the retail-office centre (ROC) in the modern architectural format now under construction. The complex will have an 18-storey capital building made of monolith-brick construction provided with plate glass, a ventilated facade, internal engineering, finishing (class "B"), air-conditioning.

Starting situation

According to data of the commercial real estate market in Sochi, there currently exists a deficiency of high-quality retail-office premises. There are office areas at the hotels "Olympia", "Zvezdniy", "Park-hotel". In 2006 the commercial real estate construction was practically non-existent. Retail-office premises construction became especially critical after the International Olympic Committee in 2007 made the decision to hold the 2014 winter Olympic games in Sochi.The site provided for RC building is located not far from the railway station and contains retail, storage and production premises. A 1200 sq. m. operating agricultural market is located on the plot.

Activity of the management of the company and GK «ROEL»

In 2006 "ROEL" Group management made a decision to build the retail-office center in Sochi. For this goal, long-term leasing rights for a site with an area of 3,030 sq. m. were obtained for a period up to 2051.

Within a year the pre-project presentation was developed to ensure the complex’s location. The preliminary design was developed. It was agreed that the building will be connected to the city communications networks of heat and power supply, water supply and water drainage; the complex’s location was coordinated with Fire supervision, civil defense and emergency services. The necessary engineering and geological exploration was performed. The Architecture and Town-planning Administration had issued its conclusion for the ROC building and ordered the commencement of work on the project. Technical control and supervision over the pre-project development and the construction of the complex was performed at all the stages.

An outline design of the building was also developed and approved.

Achieved results

The object was prepared for sale at the stage of design and administrative documents issued by the city Administration (Decision and Order for Construction). At the end of 2007 the project was sold to a profile investor. Project profitability was 400%.



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ROEL Group of Companies

Prospekt Vernadskogo, 37 Bldg. 1 ,
119415, Moscow, Russia
Tel.: +7 495 600 49 99,
Fax: + 7 495 600 49 98