In 1991, ENKA took advantage of its good business relations in Russia as well as the steady economic progress of the country, to found MOSENKA in Moscow with some Russian partners as the first real estate investment company which practiced and provided western quality real estate services.

ENKA now owns 100% stake in MOSENKA, which develops and rents out office space, aiming to meet Moscow’s growing demand. MOSENKA has reconstructed six historic buildings with a total rentable area of 46,500 m² and converted them into modern office buildings, and currently owns four of these buildings.  Tenants of MOSENKA include well-known local and international companies such as Lego, Air Liquide, Saipem, Roquette and Claas.

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Having signed an investment agreement with a number of Russian partners, including the Municipality of Moscow, ENKA established Moskva Krasnye Holmy (MKH) with the specific aim to develop, in five progressive stages, the Russian Cultural Center, a center that includes office buildings, trade, cultural and sports centers on a seven-hectare plot of land  with a 49-year lease. ENKA owns 100% of the company which commenced operation in the summer of 1995 and has thus far completed a number of buildings totaling 156,000 m², including 61,500 m² of rentable office space.

The complex, known as Riverside Towers®, accommodates a five-star hotel with 235 rooms, under the name “Swissôtel Krasnye Holmy” and operated by the FRHI Hotels & Resorts since 2005.

The hotel’s roof bar, “City Space” is highly popular and listed on the 2011 chart of the World’s 50 Best Bars, as compiled by Drinks International, the No 1. trade magazine for global drinks buyers.

The newly built Conference Center, also managed by Swissôtel, became a featured attraction from the moment   it opened its doors, and now hosts many conferences, seminars and other events catering to prestigious participants.

The corporate policy of the company emphasizes a process of institutionalization and dictates that productivity and profitability excel by employing the finest local staff and the best local companies to collaborate with a core Turkish Management Team.

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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 the 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.

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City Center Investment B.V.

City Center Investment B.V. commenced business in 2003 with the realization of the Naberezhnaya Tower complex, which is one of the most prestigious business centers in Moscow.

Naberezhnaya Tower holds a Commercial Real Estate Award for the best Class-A business center. Located in Moscow’s International Business Center, it has  an inspiring architecture  and  hi-tech innovative design.

Naberezhnaya Tower complex continues to operate with 136 personnel in the sphere of leasing offices, including facility management of the buildings and acting as a contractor for fit-out works.

The complex consists of three blocks with a total rentable area of 163,000 sqm. During 2015, City Center Investment B.V. concluded nearly 11,000 sqm of new lease contracts and carried out 7,000 sqm of office fit-out works in Naberezhnaya Tower.

The occupancy rate of Naberezhnaya Tower increased to 93% by the end of 2015. In addition to increased occupancy rates, with the leases finalized during 2015, average rental prices in the buildings also increased. Naberezhnaya Tower is the most compelling office choice for any leading international or Russian business. Some of the leases with international tenants with business relations spanning more than a decade have even been extended for additional periods.

Existing tenants of City Center Investment B.V. include reputable corporations such as Citibank, CMS Cameron McKenna, E.On, Eli Lilly, Fortum, Glaxo Smith Kline, Medtronic, Merz Pharma, Mitsui & Co, Norilsk Nickel, Pfizer, Qualcomm, Renaissance Capital, Richemont, SKF, Universal Pictures and KPMG, IBM, General Electric.

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ENKA Invest began operating in 1994, as a part of ENKA’s real estate investment division which has been working in Moscow since the early 1990s.  The company owns and manages portfolio of 9 Class A office and residential buildings located in the centre of Moscow. Paveletskaya Business Center, Sretenka Office and Residential Complex, Tsvetnoy Palazzo, Chapligina House complexes have a total rentable area of 76,000 sqm. Its 97 personnel lease office and residential premises, coordinate building and facility management, as well as provide building services for the fit-out works required by tenants.

Approximately 20% of ENKA’s office portfolio is composed of buildings belonging to ENKA Invest. The occupancy rate in ENKA Invest’s buildings increased to 88% by the end of 2015. Some of the leases with international tenants, whose business relations date back to the 1990s, have even been extended.

ENKA Invest’s existing tenants include big multinational firms such as Accenture, Chanel, Cleary Gottlieb Steen & Hamilton, HSBC, IATA, La Prairie, Les Laboratoires Servier, LG Electronics, Linde Gas, Linklaters, National Oilwell Varco, Nestle, Nintendo, Statoil, Tommy Hilfiger and UBS.

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