In the Volga city, one of the largest development projects, “Aquarelle Togliatti Retail Park”, will be implemented by the “Esta Construction” company.
As the local press reports, the construction company belongs to a Turkish citizen, Bahattin Demirbilek. The work on the construction site, with an area of 62,000 m2, will cost more than 6 bln rubles.
Besides the Auchan group, which will provide 3 bln rubles, other future anchor tenants will invest in the project. The construction of the new trade center will be located at the crossing of two of the city’s busiest streets – the Yuzhnoe and Obvodnoye Highways.
The first stage of the object is to be put in operation in the fourth quarter of 2016, and the second one in 2017. “Esta Construction” has offices in Moscow, Krasnodar, Stambul, and Ashkhabad.
The company has already built trade centers for the “Magnit” retail chain, logistic centers, hotels and other objects. According to expert opinion, the current contract the company received came after it had been included in the list of companies free from the anti-Turkish sanctions.