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RGI Properties
Maya
Class A Office Development
The Maya Development is a proposed Class A office building located in close proximity to the Garden Ring—one of Moscow’s most important transportation routes that surrounds the center of the city—and RGI's Dream and Chelsea Projects in the center of Moscow. The property is close to Prospect Mira Avenue and within a few minutes’ walk to the Prospect Mira metro
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station. A two-story building which will be demolished as part of the redevelopment currently occupies the 0.36 hectare site.
Design
RGI’s current design for the Maya Development includes a gross area of 8,811 sq.m comprised of 5,110 sq.m of prime leasable office space and 121 underground parking spaces
Status
The proposed development plan for Maya is based on the Company’s possession of an Investment Contract. The project is currently in the pre-design stage. The next step for the Company is to complete zoning, obtain a land lease for the plot and approve the GPZU which are expected during 2010. The project is expected to be completed to a shell and core standard during 2012 assuming the necessary financing for construction is organized and the remaining design and construction permissions are obtained on a timely basis.
Strategy
RGI’s strategy for Maya is to sell the development outright under appropriate market conditions either before or after the project is completed
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Primary asset type
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Office
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Gross Internal Area (sq.m)
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8,811
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Target Ownership
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82%
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Expected Completion
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2012
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DTZ Valuation (US$ MM) as at 30 June 2009
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9.6 * |
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DTZ Valuation at Completion (US$ MM) as at 30 June 2009
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45.1 * |
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* Valuation for RGI part
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