Page 226 - RusRPTAug24

9.2.4 Construction & Real estate corporate news
PIK Group structure closes largest speculative warehouse deal this year.
Electrical engineering company IEK Group has leased 67,500 sq. m from Parametr, a developer created by PIK Group, in the Kuvekino industrial park, which is being built in the Desyonovskoye settlement near Troitsk in New Moscow. Two sources close to different parties to the deal told Vedomosti about this. This information was confirmed by representatives of IEK Group, Parametr, and NF Group, which acted as a consultant for the transaction. The tenant will occupy areas that will be commissioned in mid-2025, as part of the first stage of the project, Vedomosti's sources clarified.
The Kuvekino Industrial Park involves the construction of a total of 340,000 sq. m of logistics real estate. The developer of the complex, Parametr, was created by PIK Group specifically for the implementation of commercial real estate projects. Its portfolio currently includes six industrial parks totaling 1.2 million sq. m in the Moscow region, including Senkino (73,200 sq. m) near Troitsk and Butovo (60,000 sq. m) on Varshavskoe Shosse.
IEK Group was founded in 1999. The company produces electrical equipment under the brands IEK, Ledel, Fereks, etc. The largest owners of the holding, according to SPARK-Interfax, are businessmen Mikhail Petrov and Alexey Stepashin. The revenue of IEK Holding LLC (the parent structure of the group) in 2023 amounted to 40.3 billion rubles, net profit - 2.7 billion rubles.
9.2.5 Retail corporate news
Russian retailer O'Key in the Q2 increased net retail sales by 5.2% y/y to 52.316bn rubles ($605.73mn), the company said in a statement. In the first half of the year, the Group's net retail sales increased by 6.2% to 104.568bn rubles ($1.21bn), hypermarket sales - by 2% to 69.383bn rubles ($804.23mn), and discounter sales - by 15.7% to 35.185bn rubles ($407.84mn). O'key Group's LFL net sales increased by 3.9% in the first six months and by 3.1% in April-June. Average check in January-June increased by 7.4%, customer traffic decreased by 3.2%, LFL check increased by 7.5%, and LFL traffic decreased by 4.1%. O'Key Group opened its first hypermarket in St. Petersburg in 2002. In 2015 the retailer launched its chain of discount stores. By the end of June 2024, the group will operate 296 stores in Russia.
9.2.6 Agriculture corporate news
226 RUSSIA Country Report August 2024 www.intellinews.com