30 January INTECO entered the top 10 most media-covered developers
24 January INTECO has launched sales of the most scenic building part of West Garden eco-project
22 January Sadovyie Kvartaly is among the top 3 residential complexes in terms of real estate sold in Moscow at year-end 2019
20 January Traffic launched on the second section of Kutuzovsky Prospekt’s southern bypass — the main highway near the West Garden residential complex
The volume of escrow transactions in INTECO’s Moscow projects exceeded 5 billion rubles
By the end of 2019, the total amount of escrow-based equity participation agreements for INTECO projects in Moscow exceeded 5 billion rubles. Transactions were concluded for the West Garden business class residential complex and the Westerdam comfort class residential complex to be built in the Western Administrative District.
INTECO analytical center conducted a survey of the Moscow market of newly erected buildings sold against escrow accounts, and found that at the end of 2019, more than 700 thousand square meters of real estate were put on sale. However, about 45% of the supply, or 308 thous sq m fell within the comfort class, about 34% of the supply or 237 thous sq m fell within the business segment, and over 16% of the supply, or 114 thous sq m fell within the premium category.
Considering the market of Moscow newly erected buildings sold against escrow accounts in the context of administrative districts, INTECO analysts noted that the previous year’s results showed the Western Administrative District took the first place in terms of supply — its share in the total area sold against escrow accounts constituted 24%. The top three districts also included the Southern Administrative District and North-East Administrative District sharing 20% and 17% respectively. Having studied the structure of the supply in the Western Administrative District, the company’s experts concluded that in terms of the total volume of square meters sold using the new market mechanism, INTECO came out to the first position — the developer’s projects in this location account for 40% in the business class and 10% in the comfort class.
«Moscow is the country’s the leader in terms of sales of newly erected buildings using the new scheme; in the near future, the area of escrow projects in the city will reach 1 mln sq m. According to the Central Bank, as of January 1, 2020, the remaining balance of escrow accounts in the capital amounted to more than RUB 69 bln. INTECO shares more than 7% of this volume,» commented Evgenii Semenov, Vice President and head of INTECO’s investment and sales unit. He added that the company shares 14% in the total sales pattern for the district, building two residential complexes in Moscow with project financing from OTKRYTIYE Bank.