The remaining 10 per cent is held by UBM Development AG. The contract negotiations and the signing were successfully completed on 13 May 2019. The closing of the transaction is still subject to the standard closing prerequisites for transactions of this type, in particular the approval of the Russian antitrust authority.
AIRPORTCITY St. Petersburg is being developed and operated by the project company AO AVIELEN A.G. and is located in close proximity to Pulkovo International Airport. 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 square metres have been built thus far. The two towers from the first construction phase, Jupiter 1 and Jupiter 2, are fully occupied. The third tower from the second construction phase – Zeppelin, offering around 15,600 square metres of lettable space – is also fully occupied. In addition, AIRPORTCITY St. Petersburg offers property reserves for around 150,000 square metres of office space.