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The Finnish concern EKE is selling its latest project in Russia – the unfinished office and hotel complex San Gally Park on Ligovsky Prospekt in the center of St. Petersburg. It is bought by Eduard Tiktinsky’s RBI group. This was reported by Kommersant, citing its sources in the real estate market. EKE and RBI declined to comment.
Real estate experts estimate the deal between RBI and EKE at between 3 and 6 billion rubles. The project has been completed by 30%, so additional investment in construction may amount to about 150,000 rubles per square meter.
San Gally Park is EKE’s last remaining project on the Russian market. The concern built the Two Epochs residential complex on Vasilevsky Island in St. Petersburg and the Pulkovo Sky business center, which was recently sold to Balchug Capital.
EKE bought 2.5 hectares on Ligovsky Prospekt, planning to build three business centers on the site with a total area of 47 thousand square meters. m and a four-star hotel with 298 rooms. In March 2022, the Finnish publication Rakennuslehti announced the suspension of the project due to the start of a Russian special operation in Ukraine.
Source: Rosbalt
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
