RED Gives Up on Building Class A Business Centers

14 December 2012 (09:29)

December 14, 2012. There are quite enough Class A business centers in Yekaterinburg at the moment, as their share of the market is only expected to come to 7% to 10%, RED Management Company Deputy DG Andrei Braude says.

‘We are running out of the suitable construction sites downtown, and no new ones will appear unless something extraordinary happens, as is the case in Moscow, for example, when one quarter gets pulled down completely and a new one is put up in its place,’ Braude said.

‘We’ve got enough Class A office buildings in the city. They should only constitute no more than 7% to 10% of the total number, which is exactly why President is the last building we have commissioned in this category,’ he added.

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