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Russian developer unveils key projects at Cityscape

DUBAI, October 10, 2018

Leading Russian developer Pioneer Group showcased its portfolio of projects coming up in the cities of Moscow and St Petersburg, with the support of leading Japanese urban design firm Nikken Sekkei, at the recent Cityscape Global expo held in Dubai.

Pioneer specialises in the implementation of urban planning projects with multi-functional and complex residential developments and subsequent management services. Since 2001, the company has attracted funds from institutional investors and private individuals at the construction stage.

Unveiling the projects, Pioneer Group said it was looking for potential investors and partners to bring its unique mid-market YE’S apart-hotels brand to the UAE and the wider GCC.

The Y’ES apart-hotels boasts high quality finishes, which come fully equipped with European furniture and household appliances. The developer also offers professional property management support.

Pioneer Group chairman Leonid Maksimov said: "The YE’S apart-hotel brand is a unique mid-market product, accessible to a wide range of investors, offering apartments fully furnished and ready for leasing with the added benefit of professional hotel management."

"This format is ideal for both business and leisure visitors - long staying corporate guests as well as short stay family getaways, affording investors a regular monthly income, with annual returns of up to 10 per cent," he added.

According to Dubai’s tourism authority, Russian tourist arrivals for the first half of 2018 grew year-on-year by 74 per cent to 405,000 and is now one of the emirate’s top five source markets.

“That is why YE’S is such an attractive proposition for UAE investors. Russian tourists particularly those from Moscow and St. Petersburg will recognize the brand and its value-led offering. With more and more mid-market tourists expected to arrive in the UAE from Russia, demand will be robust and sustainable” explained Maksimov.

In Moscow, Nikken is collaborating with Pioneer in the creation of the master plan and architectural concept design for Life-Varshavskaya, in the South of the city, following its successful Smart City project at Botanichesky Sad.

The 600,000 sq m brown site will be turned into an environmentally-friendly community, with sprawling lush green areas and pedestrian routes, in stark contrast to its current form.

It will include residential, educational, medical and commercial facilities, a church, plus parking and social Infrastructure.

Maksimov said the unique characteristics of the YE’S apart-hotel brand guarantee a high occupancy rate in the first year of operation.

"The financial model of the project provides for an annual yield of 10 per cent, which is approximately 1.5 - twice more profitable than independently investing in any one-room apartment," he added.-TradeArabia News Service

Tags: Cityscape | Nikken Sekkei | Russian developer |

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