Joint Stock Company "Open Investments" ("OPIN" or the "Company") has closed a deal, as a result of which the Company has gained control of 100% ownership interest in Bank Tower, LLC. Bank Tower, LLC has all rights for the 27-floor building with a total area of 52 000 sqm, including 18 000 sqm of underground parking. This building is a part of multiuse class A business center SAKHAROV BUSINESS PLAZA, being developed by JSC "OPIN". Bank Tower, LLC has been acquired by two companies, the members of JSC "OPIN group - Sakharov Office Park, LLC and Sakharova Business Plaza, LLC.
Thereby group of companies JSC "OPIN" has acquired ownership interest in the entire office complex under construction.
SAKHAROV BUSINESS PLAZA is a multiuse class A office center which is being built in accordance with the requirements of all international and Russian tenants and investors. The construction site is located in the Central Administrative District of Moscow at the following address: Akademika Sakharova Prospect, 30.
The multiuse office center will comprise of the three buildings placed on a common stylobate with a total floor area of 132,000 sqm. Net rentable area will amount to 63,000 sqm. The development will also have an underground parking for approximately 1,100 cars.
The architects for the project are the Vorontsov Architectural Agency and MMA + Fitzroy Robinson (UK). The underground works are performed by Soletanche / Southbrook. Savant International (UK) is responsible for project management. Waterman International (UK) performs engineering works.
Sergey Bachin, General Director of JSC "OPIN", has commented: "SAKHAROV BUSINESS PLAZA will be one of few buildings in Russia complying with international standards for class A offices. There are very few high-quality projects on the Moscow commercial property market. The demand from international institutional and Russian investors is constantly growing and would not be satisfied even after putting in to operation some of the recently announced office projects. We believe in success of this project and plan to complete it by the end of year 2008".