Forum Group halts mall in Yekaterinburg

21 December 2009 (14:01)

‘The third extension to Tikhvin Club House was commissioned at the beginning of 2009. At the moment, the demand for the apartments in the building is neither growing nor declining. We used to sign sale contracts on a regular basis, but now we get one month of idleness followed by two or three sales in a row in the following month,’ General Director of Forum Group Sergey Vorobiev said at a press conference in Yekaterinburg dedicated to the end-of-year performance of the local real estate market.

‘As for putting up a new Forum Mall where the old Central Market used to be, this project of ours has been completed to the pile-driving stage. The construction itself had to be frozen. We have to wait until we have enough tenants, as we have found only a third of the required number of companies so far. This isn’t enough to carry on the construction process. Among our current tenants are Azbuka Vkusa, the premium class food chain, and a cinema chain with headquarters in Saint Petersburg. The future mall’s total area will come to 30,000 square meters,’ Vorobiev observed.

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