Finnish companies lose their positions in the real estate market of the Russian Federation
Julkaistu 05 2017
In recent years the largest Finnish companies in the real estate market of the Russian Federation has lost about 11% of revenue. Despite the positive trend at the end of 2017, the entrepreneurs are not ready to resume investments in the sector and to change the development strategy.
Many developers, such as Lemminkäinen, SRV Group PLC, Stockmann, become pensioners or contractors for work maintenance, refusing to participate independently in projects on residential neighborhoods building. Low interest of retailers and the decline in consumer activity has forced the owners of large shopping centres such as "Ohta Mall", "Nevsky center", to abandon their own business projects (e.g., sale of department store chain Stockmann).
But now, according to experts, it is necessary to change business development scheme both in housing and commercial sector, attracting more profitable tenants or buying out promising areas for future construction projects.
Source: fontanka.fi
Many developers, such as Lemminkäinen, SRV Group PLC, Stockmann, become pensioners or contractors for work maintenance, refusing to participate independently in projects on residential neighborhoods building. Low interest of retailers and the decline in consumer activity has forced the owners of large shopping centres such as "Ohta Mall", "Nevsky center", to abandon their own business projects (e.g., sale of department store chain Stockmann).
But now, according to experts, it is necessary to change business development scheme both in housing and commercial sector, attracting more profitable tenants or buying out promising areas for future construction projects.
Source: fontanka.fi
