IEC Investments AB Goes Big on Consumer Goods in Russia: Estimate of $125 mln to Be Invested in Moscow's Mall
PRLog - Feb. 5, 2014 - STOCKHOLM, Sweden -- Last week the IEC Investments AB’s management board made a collective decision to forward the development of the company’s business activities in Eastern Europe and Asia.
An estimate of $125 mln is seen to be invested in reacquisition of the premises of an uncompleted massive shopping center located on Kutuzovskoe highway in central Moscow as well as in its further major repair works and infrastructure development.
Over the last 12 years Russia has seen an upsurge in foreign direct investments from $3.5 bln in 2002 up to $35 bln in 2012, making it one of the world’s most attractive EMEs for both national and foreign investors.
According to Rosstat, Federal State Statistics Service, a median monthly income of Russians in 2014 skyrocketed by more than 90% from 2008, now amounting to 27.000 rubles or $900. Statistics show that on the average Russians spend more than 25% of their monthly income on consumer goods and eating out.
"According to our estimates, the ROI on the oncoming investment plan will be as high as 11.5%. Furthermore, all our clients taking part in it will be given an opportunity to experience all ins and outs of one of the most challenging and prosperous EMEs in the world," Alain Marie Joseph Lemarchand, CEO of IEC Investments AB, said last week.
The mall of more than 350.000 sq. m. in area is located in Kutuzovsky district in central Moscow occupying 50 hectares of space. So far it will be the biggest shopping center in Russia as well as one of the most promising construction projects in Eastern Europe. The project will include various retail facilities, offices, hotels, restaurants, leisure and community centers as well as parkland.
IEC Investments AB is going to invest an estimate of $125 mln to reacquire the mall premises from the previous developer and carry out all major repair and infrastructure development works. Ultimately, more than 2.000 jobs will be created. The project is seen to pay back in 4 years’ time.
IEC Investments AB is a private investment company that has been endeavoring best efforts to make its clients’ businesses prosper by giving the green light for the smartest niche investment projects in the market since 2005.
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Retail & Consumer: IEC Investments AB to Invest $125 mln in Mall in Moscow
February 05, 2014 at 10:11 AM EST
