Kuntsevo Plaza to open in Moscow in August, 2014

12 November 2013
A new mixed-use lifestyle center is being constructed on the plot of the first professional shopping centre in Russia

A multi-functional lifestyle center Kuntsevo Plaza (GBA 245,000 sq m) to open in the west of Moscow in August, 2014. The project includes a new generation shopping and entertainment centre, with GLA amounting to 68,000 sq m, office tower and two apartment towers. The investor and developer of the project is ENKA TC, one of the leading professional players of the Russian commercial property market and a subsidiary of ENKA group of companies. The project’s investment volume exceeds 450 Million Dollars. International real estate consultants Jones Lang LaSalle and Knight Frank are appointed co-exclusive leasing agents.

Kuntsevo Plaza is located at Yartsevskaya Street, 19, in a close vicinity to Molodezhnaya metro station and where the first ever professional multifunctional shopping centre and first hypermarket in Russia (“Ramstore”) were situated. The shopping center with hypermarket developed by ENKA TC had been successfully functioning since 1997 for more than 14 years.

Kuntsevo Plaza reflects more than 20 years of ENKA’s experience in construction, development and property & facility management fields in Russia.

The development site is located at the intersection of pedestrian and transport routes – between Rublevskoye and Mozhaiskoye highways, right on Moscow’s future North-Western Chord.

Already now the catchment area population of the multi-purpose complex amounts to 2 mln people. Moreover, close to 200,000 sq m of residential is planned for construction in the surrounding area in 2013-2014. Molodezhnaya metro station generates up to 60,000 people per day.

Kuntsevo Plaza will stand out in the Russian retail market thanks to its unique interior and exterior architecture and functional zoning. The complex’s exclusive design will encourage tenants to open flagship stores at Kuntsevo Plaza, and express individuality by bringing interesting solutions into retail space – from exclusive shop window design to multi-level terrace décor.

The architectural concept of the project was designed by an American Architectural Group Jerde Partnership, whose professional portfolio boasts Mall of America (Minesota), Bellagio(Las Vegas), Santa Monica Place (California), Kanyon (Istanbul), Zloty Tarasy (Warsaw) and many other outstanding sites. The Canadian MXD Development Strategists was chosen as a retail space and functional zoning consultant.

Over 250 shops will be spanning the five levels of the shopping centre ranging from leading boutiques to iconic international brands and an eco-market. A hypermarket spanning 2 levels and occupying nearly 15,000 sq m will cater to daily needs for local residents. Fitness Center equipped with most modern equipment and a swimming pool will be available for visiting customer and Kuntsevo Plaza residents. Entertaining and lifestyle zone will contain a cinema complex with 7 halls and an IMAX screen. Three levels of family entertainment centre, as well as the kids’ educational centre will be located under the transparent dome of Kuntsevo Plaza. Furthermore, the food and beverage zone consisting of food-court, concept restaurants and a 2-level Sky Bar with terraces. The retail component will include 4 underground levels of parking with 2,000 spots.

Murat Duran, General Director of ENKA TC: “As one of the pioneer development companies in Russia who in late 90’s opened first multi-functional shopping center, multiplex cinema and originally brought the IMAX experience to Russian consumers, we are very proud to continue our quest with redevelopment of the first ever Russian multifunctional shopping center. We believe it is a significant event for the Russian commercial real estate market. When we were planning redeveloping the functioning shopping center, we were aiming at building a lifestyle center that would comply with the requirements of modern life, achieving better land plot usage efficiency with underground car park, creating an iconic gathering destination point and bringing added value to Muscovites. In Kuntsevo Plaza, the perfect architectural and layout concepts have been implemented in combination with a high building quality and application of innovative “green technologies” and state-of-the-art systems. As an indication of our success in this regard, in October 2012 ENKA TC has been deemed worthy of "Cityscape Future Retail Award in Emerging Markets" at the International Conference for Global Real Estate held in Dubai for Kuntsevo Plaza Project. We believe that the time has come to bring brand new styling solution to entire commercial real estate industry and we are sure that the new Kuntsevo Plaza Project will become a trendsetter in the design, technology and customer experience.”

Sergey Gipsh, Partner, Retail Director, Knight Frank Russia & CIS: “The history of our professional relationship with ENKA dates back to 1996, when the first professional shopping-center and hypermarket was leased on the plot where Kuntsevo Plaza is being built now. For many retailers, it was an extraordinary and unknown format. In November of 1997 the complex opened its doors to visitors and became very popular among Moscow dwellers. I am especially pleased about the fact that 16 years later we are taking part in this project. Perhaps, it is the only project in Russia, which is to be transformed into a new, fantastic concept, upon exhausting its resources after 14 years of functioning. Kuntsevo Plaza will no doubt become one of the best projects in Moscow. Professional players of retail market often complain of shopping-centers’ similarities, which makes it even more an honor and pleasure for us to work on the project that stands out. As a professional consultant, we will do our best to bring the best retailers to Kuntsevo Plaza, not only the most outstanding existing, but also new to the market.”

Tatyana Malyanova, Head of Shopping Centres Agency, Retail Department, Jones Lang LaSalle, Russia & CIS: “In the 90’s Ramstor at Yartsevskaya street changed the Russian consumer mind being one of the Moscow first retail projects of a high quality. Kuntsevo Plaza is to become the new milestone retail project in Russia. Nowadays the shopping centre stock in Moscow is quite high – it is 300 sq m per 1,000 inhabitants, at the same time the Kuntsevo area is mostly represented by typical schemes which don’t meet high requirements of modern consumers. The developers today understand the importance of incorporating unique features in their projects, and we consider ENKA TC to be a pioneer in this field. Kuntsevo Plaza is about the unique positioning, an outstanding concept and an exceptional architectural solution - new to the Moscow market. We are confident that Kuntsevo Plaza will become a true success story – one in a row of the new generation retail schemes in Europe, like the London Westfield and the Istanbul Istinye Park.”