Evgeny Aleshin gave an interview to CRE News on Storm Properties projects, further development of the company, collaboration with PIK and real estate market situation in general.

September 2010

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Full version of the interview is available at www.crenews-tv.ru

The Studio Guest at the CRE News Program
Evgeny Aleshin, CEO, Storm Properties

CRE - Why did you decide to leave PIK after such a long period of cooperation?

EA  - Leaving PIK was a compulsory measure connected with the consequences of the crisis. It was our initiative to leave the company, but PIK supported our decision. We negotiated an arrangement that suited both sides. We would like remain a partner of such a large developer, but we still believe we did the right thing. We need to look for a new line in the development business, and by the way, we have already found a new partner. This is Kirill Pisarev, one of the founding members and shareholders of PIK GC. L am Managing Director, and Michael Belton is the President. We deal with managing the company and Kirill is the key shareholder.

CRE  - What are the projects you are working on now?

EA - We have only one active project at the moment, and this is the K2 Business Park. This is going to be the first world-class business park in the Moscow Region. We purchased K2 in 2006 and we already have some experience in realizing projects of this kind. We are confident there will be demand for similar projects in the future. A month ago, we recommenced the active development of the project, which consisted in the preparation of the site for construction works. We are also negotiating with prospective tenants. We can see people are interested in our object, though not as much as we would like them to be.

CRE  - Why are you not working with retail or warehousing real estate?

EA - So far, our portfolio has comprised office projects only. This portfolio evolved in the course of our company's development. We have never worked with warehousing premises, and we will not do so, because it is a peculiar kind of business where we are not that knowledgeable. Offices, residential and commercial premises are something we will try to deal with, but in any case, we will not compete with PIK in building economy-class residential properties. The experience Storm Properties has already gained will not be required for working with such properties.

Full version of the interview is available on the website: www.crenews-tv.ru