ENKA TC, formerly Ramenka, was established in Moscow as a 50-50 equal partnership between ENKA and Migros in 1997 to create shopping centers and supermarket chains in Russia. In November of the same year it launched its first Ramstore hypermarket and shopping center in the Kuntsevo district of Moscow, which was constructed by ENKA on a total rentable area of 19,400 m².
The company continued its growth and opened its second hypermarket and shopping center, Marino Rosha, despite the economic crisis in Russia in 1998. Adhering to high quality standards, ENKA completed the construction of the 32,500 m² Marino Rosha shopping center in a short time.
Between 1999 and 2003, 23 new stores were opened, increasing the number of stores to 25 and the number of shopping centers to 6 by the end of 2003. Regions outside Moscow soon saw the opening of stores at Krasnoyarsk, Kazan and Nizhiy Novgorod the same year. Despite some closures between 2004 and 2007, the total number of stores has increased to 53, and shopping centers to 10.
In addition to retail space in shopping centers, the company started renting large scale offices in 2007 at the Vernadskovo complex.
By purchasing a 50% share of Migros in 2007, ENKA became the sole owner of the company and consequently renamed it “ENKA TC”. In line with concentrating on rental as its main line of business, it has transferred the hypermarkets operated at the Moscow and St. Petersburg shopping centers to Auchan through rental agreements.
Upon completion of this operation the rentable space of ENKA TC increased from 167,000 m² to 227,000 m².
Shopping malls owned by ENKA TC and which were operated under the “Ramstore” brand name were rebranded “Kapitoliy” in 2009. Also, the supermarket brand name “Ramstore” was renamed “Citystore” from January 2010.
In accordance with the company’s plans to exit the retail business and concentrate on real estate operations within the scope of sales agreements, ENKA TC retail assets were transferred to OOO BILLA and OOO BILLA REALTY in April 2012. Following this transfer process, at the end of 2012, ENKA TC had completely exited the retail sector.
Two of ENKA TC’s most significant shopping mall developments won the “Best Shopping Center” awards from the Commercial Real Estate Committee in Russia. Kapitoliy Shopping Mall in St. Petersburg was honored with “St. Petersburg’s Best Shopping Center” award in 2006, while Kapitoliy-Vernadskovo Shopping Mall in Moscow received “Moscow’s Best Large-Scale Shopping Mall” award from the CRE in 2007. Kapitoliy-Sevastopolsky Shopping Mall in Moscow was also awarded by the Moscow Municipality with “The Most Convenient Shopping Center in the South-West Administrative District of Moscow”.
During the 2nd quarter of 2011, ENKA TC finished the project development phase and commenced redevelopment works for Kuntsevo Plaza, which originally opened in 1997. Within the scope of this project, the existing building, covering 19,400 m² was demolished and a new 235,000 m² modern complex was constructed. The complex consists of a shopping mall, office buildings and a small number of apartment units.
The construction of the plaza was completed and commenced operation at the end of 2014. The office buildings were also opened in the 2nd quarter of 2015. This investment project features a shopping mall with 62,602 m² of net rentable area, an office building with 29,094 m² net rentable area, and an underground parking lot with a 2,028-car capacity.
ENKA TC’s Kuntsevo redevelopment project was deemed worthy of the 2012 “Cityscape Future Retail Award in Emerging Markets” at the International Conference for Global Real Estate. The Award ceremony, in which 36 nominee projects in 13 different countries were showcased, took place in Dubai.
Kuntsevo Plaza also became one of Russia’s 37 green investment projects after receiving a green building certificate (Green Standard – GOLD) in April 2013.
Kuntsevo Plaza was honored with the Best Shopping Center 2015 Award given by Russian Council of Shopping Centers (RCSC). The Award ceremony, in which 15 nominee projects were showcased, took place in Moscow on 21 April 2015.