In 1991 ENKA anticipated that there would be unique investment opportunities in Moscow as the free market economy developed. This led to the establishment of MOSENKA, the very first real estate investment company in the city. The aim was to provide local and international companies entering the Russian market with a high-quality service in keeping with Western standards. MOSENKA soon proved itself a reliable developer and successfully integrated into the local business environment.

ENKA now owns 100% stake in MOSENKA, developing and renting out office spaces, aimed at meeting Moscow’s growing demand.

MOSENKA has reconstructed six historic buildings with a total construction area of 46,500 m² and converted them into modern office buildings, all of which are serving close to their rental capacity. Tenants of MOSENKA include well-known local and international companies, such as Accor, Air Liquide, Claas, IPSEN, J.P. Morgan Bank, LEGO, Lexmark, Lufthansa and United Financial Capital Bank.


Signing an investment agreement with a number of Russian partners, including Municipality of Moscow, ENKA established Moskva Krasnye Holmy (MKH) in 1995 to develop Russian Cultural Center, a unique project comprising office buildings, trade, cultural and sports center on a seven-hectare plot of land, located on the eastern tip of the Kremlin Island bordered by the Moskva River and Vodootvodny Channel.

MKH 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 under the brand name Riverside Towers. The Company is now owned 100% by ENKA. Many well known local and international companies have their offices here, among them SAP, Nissan, Mitsubishi Electric, Akrihin, MIC Group of Companies, Avaya, Chadbourne & Parke, Givaudan.

The complex accommodates a five-star hotel with 235 rooms, under the name Swissotel Krasnye Holmy. With the spectacular panoramic view, the hotel’s roof bar, City Space, is highly popular and listed on the 2011 chart of the World’s 50 best Bars. The newly built Conference Center, became a featured attraction from the moment it opened its doors, and now hosts many conferences, seminars and other events, catering for its prestigious clients.

Russian Cultural Center granted a new life to the old industrial area and became a remarkable landmark in Moscow skyline.


ENKA TC, formerly RamENKA, was established in Moscow as an equal partnership between ENKA and Migros in 1997 to create shopping centers and a supermarket chain in the Russian Federation. In November of the same year it launched its first Ramstore hypermarket and shopping center in the Kuntsevo district of Moscow, with a total area of 19,400 m².

Despite the economic crisis in the Russian Federation, the company continued its growth and opened its second hypermarket and shopping center, Maryina Roshcha, in 1998. Maintaining its high standards, ENKA completed the construction of the 32,500 m² Maryina Roshcha shopping center in a short time.

Between 1999 and 2003, a further 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.

When ENKA purchased 50% share of Migros in 2007, it became the sole owner of the company and consequently renamed it “ENKA TC”. By concentrating on property rental as its main line of business, ENKA TC has transferred the hypermarkets operated at the Moscow and St. Petersburg shopping centers to Auchan through rental agreements.

Consequently, the rentable space of ENKA TC increased from 167,000 m² to 227,000 m².

ENKA TC re-branded its shopping malls operated under the Ramstore brand as Kapitoliy in 2009. In accordance with the company’s plans to exit the retail business and focus on real estate operations within the scope of sales agreements, ENKA TC retail assets were transferred to “BILLA” and “BILLA REALTY” in April 2012. Following this transfer process, by the end of 2012, ENKA TC completely left the retail sector.

Two of ENKA TC’s most significant shopping mall developments won the Best Shopping Center awards from the Commercial Real Estate (CRE) Committee in the Russian Federation. Kapitoliy Shopping Mall in St. Petersburg was honored with St. Petersburg’s Best Shopping Center award in 2006; while, in 2007 Kapitoliy-Vernadskovo Shopping Mall in Moscow received Moscow’s Best Large-Scale Shopping Mall award from the CRE. Kapitoliy-Sevastopolsky Shopping Mall in Moscow was also awarded the Most Convenient Shopping Center in the South-West Administrative District of Moscow by the Municipality of Moscow.

During the 2nd quarter of 2011, ENKA TC finished the project development phase and commenced the redevelopment of the Kuntsevo Plaza, which had been originally opened in 1997. Within the scope of this project, the existing building, covering 19,400 m² was demolished and a new 245,000 m² modern complex was constructed. This complex consists of a shopping mall, office buildings and a small number of apartment units. By the end of 2014, the construction of the plaza was completed and commenced operation. This investment project features a shopping mall comprising a net rentable area of 61,000 m², an office building with a net rentable area of 29,094 m² and an underground park lot with capacity of 2,028 cars.

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.
After receiving a green building certificate (Green Standard – GOLD) in April 2013, Kuntsevo Plaza also became one of the Russian Federation’s 37 green investment projects. Kuntsevo Plaza was honored with the Best Shopping Center 2015 Award given by Russian Council of Shopping Centers (RCSC). Furthermore, Kuntsevo Plaza was awarded in three more categories in 2016, by International Property Awards.

In 2015, alongside its policy of redeveloping existing projects, ENKA TC decided to commence the construction of a shopping and entertainment center on the Kashirskoe Shosse. The Kashirskaya Plaza has a total area of 195,500 m2 and includes 71,000 m2 of leasable space. Kashirskaya Plaza was officially opened on the 28th October 2018.

The new complex combines shopping malls, an entertainment center, a multiplex cinema (one of the largest in Russia), a world class fitness center with its own terrace and swimming pool, and catering facilities. The five floors of the shopping and entertainment center houses more than 200 stores including many famous international and Russian brands. The anchor tenant is the Auchan Food Hypermarket, covering 10,500 m2. For customers’ convenience, there is a three-level underground car park with spaces for 1,500 vehicles.

ENKA TC currently owns ten shopping malls with a total gross area of 850,000 m2, and the total leasable area to 390,000 m2.


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.

Located in Moscow, the Naberezhnaya Tower holds a Commercial Real Estate Award for the best Class-A business center due to its inspiring architecture and hi-tech innovative design. It is the most compelling office choice for any leading Russian or international business with a total rentable area of 163,000 m2.

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


The company owns and manages a portfolio of nine Class A office and residential buildings located in the center of Moscow.

Paveletskaya Business Center, Sretenka Office and Residential Complex, Tsvetnoy Palazzo, Chapligina House have a total rentable area of 76,000 m2.

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.