Deutsche Bank and DS Development (Don-Stroy) have announced the closure of one of the largest deals on the office real estate market of 2009. Deutsche Bank has leased more than 7,000 sqm of office space in Begovaya NordStar Tower.

The lease agreement was signed for seven years. The floor space signed will provide more than 700 workstations for employees of Global Information Services - Capital Markets, Russia, which will allow for not only accommodation of 600 people working in the department today, but also for business expansion.

Consultants on this deal included Jones Lang LaSalle, and a legal adviser is Squire, Sanders & Dempsey (Moscow) LLC (USA).

According to it developers, NordStar Tower, with a total floor space of 147,000 sqm, meets all international standards of a Class A office centre. The building is located in close vicinity to the business centre Moscow City.

Commenting on the new office premises rental, Igor Lojevsky, Chief Country Officer of Deutsche Bank Group in Russia and CIS said: “Our readiness to invest in information technologies at an uneasy for the world economy time allow the Bank to strengthen its positions in the long-term prospective through getting of competitive advantages at the point of economic crisis surmounting. A decision to lease such big office spaces particularly in Moscow, as well as volumes of investments behind the deal once again confirm that the Bank is committed to the Russian market and demonstrate our wish to fulfil strategic plans in the country.”

“We are glad that such client as the Deutsche Bank selected our object from of the variety of Moscow business centres,” added Ivan Sitnikov, General Manager of the DS Development. “For us it is an attestation of the high quality of the product that was created by the Group of Companies Don-Stroy. Besides it testifies to the fact that the commercial real estate market is recovering at a much higher pace than was expected. Clear-sighted companies conclude long-term lease agreements at still attractive prices.”

Alexey Efimov, National Director, Russia and CIS, Tenant Representation Department, Jones Lang LaSalle added: “We congratulate Deutsche Bank and Don-Stroy with successful completion of the deal. Deutsche Bank is the first anchor tenant of the NordStar Tower that thanks to its brand name will add to the developer’s assurance in the project success and stability. Also, this transaction demonstrates positive dynamics on the Moscow real estate market, while stressing the fact that it is surmounting the crisis.”

See also:

Back to Main News Page

EuropaProperty’s Back to Business Investment Forum to be opened by Warsaw’s Vice President

A new beginning for Warsaw’s Próżna Street

Dvintsev Business Center welcomes United Bakers