MAIN PRO company and JC YIT St. Petersburg
- GREENSTATE RU News
YIT and BORENIUS showed the participants the ways of the investment and construction project implementation through establishment of a joint-venture
The joint YIT and BORENIUS seminar was conducted on March 20 in the the Russian-German Chamber of Commerce on: “Client’s Investment Project Implementation in the Framework of a Joint Venture Establishment.”
In the course of the seminar participants have discussed the industrial real estate market supply in St. Petersburg and the Leningrad region. Detailed analytics was presented by Vladislav Talanin, the Director for industrial real estate sales at “YIT St. Petersburg”. With consideration for the market situation by the beginning of 2019, YIT has developed the proposal on client’s investment project implementation in through establishment of a joint venture. Maxim Sobolev, the Director for commercial real estate at YIT St. Petersburg has presented proposals of YIT St. Petersburg JSC to potential investors and has presented the stage-by-stage process on cooperation within the project framework on the territory of the Greenstate Industrial Park. Maxim Sobolev has noticed that such a model of work in cooperation with YIT will allow the investor to reduce risks under the project and to increase its economic efficiency.
Presentations were continued by BORENIUS, who focused on legal specifics of projects implemented within the framework of joint ventures.
Maya Petrova, the partner and the head of the “Real Estate and Construction” practice, has highlighted in detail the issue of land plot selection and of structuring relations between members of the investment and construction project. The presented has directed attention of participants to the fact that during selection of the site the investor faces multiple issues which in most cases can be solved only by a professional. The title transfer history, land plots market value assessment, etc. can serve as typical examples of such issues.
Anna Koroleva, the Deputy Director of the state public institution GKU “AERLO” (Agency for Economic Development of Leningrad Region), has joined the discussion on investment and construction projects implementation and told about cooperation with investors in Leningrad region. Anna has noted in her presentation that this region is among 10 leading regions in the country as to investments amount per capita. Certain supportive measures were specified by the representative of the Agency for Economic Development of Leningrad Region in her presentation:
- financial (tax incentives). Please see the presentation of solutions as to taxes and revenues in the state public institution GKU “AERLO” presentation on the industrial park website:
Participants of the seminar representing companies considering the possibility of the industrial|warehousing facility construction have put questions on various issues of the investment project financing, in particular on tax incentives and on the potential for credit provision from the part of the Industrial Development Fund.
Thereupon Irina Doudareva, the legal officer of “Transactions and Corporate Law” Practice at BORENIUS, has reviewed in detail the specifics of the corporate contract conclusion as a means of parties’ interests protection within the framework of the investment and construction project. Artem Zhavoronkov, the partner at BORENIUS, has focused on acute issues related to sanction and their on projects and on macroeconomic interests of investors.
Participants of the event have discussed the proposals of the industrial park, market trends and potential for investment and construction projects implementation on the territory of the Northwestern region.
In conclusion of the seminar BORENIUS held the lottery with a prize in the form of a 2 (two) hour long legal advice from BORENIUS on issues of investment and construction projects implementation on the territory of St. Petersburg and the Leningrad Region.