Warimpex now holds 100 percent of AIRPORTCITY St. Petersburg

Warimpex Finanz- und Beteiligungs AG announced the acquisition of a 10 percent stake in the project company AO AVIELEN A.G. The seller is UBM Development AG, which has now fully withdrawn from the project. The parties involved agreed not to disclose the price. Warimpex now holds a stake of 100 percent in AVIELEN, the project company responsible for the development and operation of AIRPORTCITY St. Petersburg.

“AIRPORTCITY St. Petersburg is an important development project for us with tremendous potential. The acquisition of UBM’s minority stake represents the continuation of our activities at the location and can be interpreted as a clear commitment to the Russian market,” commented Franz Jurkowitsch, CEO of Warimpex.

AIRPORTCITY St. Petersburg is being developed and is operated by the project company AO AVIELEN A.G. and is located in close proximity to the Pulkovo international airport in St. Petersburg. It is the first premium-class business centre at this location and is a key infrastructure project in the area around the airport, one of the fastest-growing commercial zones in St. Petersburg.

In addition to a four-star Crowne Plaza hotel, three modern office buildings with a total lettable space of roughly 31,000 sqm have been built thus far. The two fully occupied towers from the first construction phase, Jupiter 1 and Jupiter 2, with approximately 16,800 sqm of space were partially sold in 2015. The third tower from the second construction phase – Zeppelin, offering around 15,600 sqm of lettable space – is also fully occupied. The building shell for Avior Tower 1, which will offer roughly 16,000 sqm of lettable office space, has been finished and the building is scheduled to be completed in the second quarter of 2022.