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Tashir Group Company Report
- 1. International number: +44 20 3397 3086 UK Toll Free number: 0800 1488 224 Mobile: +359 88 8436 403 E-mail: office@propertyxpress.com PropertyXpress.com Company Report Last update: April 25 2012 TASHIR GROUP Company Tashir Group Telephone number(s) +7 (495) 514 20 96 Address Moscow, 13/5 Podkolokolny lane, Build. 1 E-mail tashir@tashir.ru Web www.tashir.ru Management • Samvel S. Karapetyan, President; • Varuzhan Artenyan, First Vice President in charge of financial direction including investment activity; • Vitaly Efimkin, Vice President in charge of business development. Number of Employees 30,000 BUSINESS OVERVIEW Tashir Group is a Russian holding founded in 1999 in Kaluga by Armenian businessman Samvel Karapetyan on the basis of the previously acquired Kalugaglavsnab. Tashir incorporates more than 200 companies working in various industries, from finance to construction. One of the group’s primary focuses is development and management of commercial real estate. At the end of 2011 Tashir Group’s real estate portfolio totaled around 4.4 mln sq. m, including 1.753 mln sq. m of operational properties, and 818,000 sq. m under development. The group’s retail portfolio comprises 1.19 mln sq. m of operational real estate and some 700,000 sq. m under development. 1 ------------------------------------------------------------------------------------------------------------------------------ © 2012 PropertyXpress.com. All rights reserved. Data in this report is for general information only, subject to future revisions. Although every update has been cross-checked to the greater extent we bear no legal responsibility for any loss or damage resultant from the contents of this document.
- 2. International number: +44 20 3397 3086 UK Toll Free number: 0800 1488 224 Mobile: +359 88 8436 403 E-mail: office@propertyxpress.com Besides retail and office centers the investment portfolio of Tashir Group also includes several hotel, health and resort properties as well as two operational and one under development logistics centers. 2011 revenues reached US$ 2.8 billion compared with US$ 1.7 billion in 2010. RETAIL Over the years, Tashir has built a strong retail business through establishing various chains and obtaining master franchises, which helps the group fully make use of its own shopping centers. Selected brands include: Cinema Star: The chain presently operates six movie theaters: in RIO (Moscow), Erevan Plaza (Moscow), Megamall RIO (within City-Park Moscow), Kaluga XXI Century (Kaluga), RIO (Yaroslavl) and RIO (Kolomna). Nash Dom DIY chain: There are three Nash Dom hypermarkets: in RIO (Moscow), Megamall RIO (City-Park Moscow) and RIO (Kolomna). Modniy Alliance: Modniy Alliance is a network of multibrand department stores in the middle price segment. Euro Fashion: Euro Fashion is a network of multibrand stores positioned in the “upper-middle” market segment. Jeans wear shops RangeR in the “lower-middle” market segment and Wild West in the “middle” and “upper-middle” market segments. Other chains and master franchises include: Kids Garden (full-format children’s shops), FreshMarket (organic food), GoldenMarket (jewelry), Vinograd (wine and spirits), QUIZ (apparel), Daskalides chocolate boutiques and Ruspetrol (gas stations). 2 ------------------------------------------------------------------------------------------------------------------------------ © 2012 PropertyXpress.com. All rights reserved. Data in this report is for general information only, subject to future revisions. Although every update has been cross-checked to the greater extent we bear no legal responsibility for any loss or damage resultant from the contents of this document.
- 3. International number: +44 20 3397 3086 UK Toll Free number: 0800 1488 224 Mobile: +359 88 8436 403 E-mail: office@propertyxpress.com MAJOR PROJECS AND PROPERTIES Project Location Stage* Total Area (SQM) RETAIL RIO Belgorod F 45,000 Tashir Erevan F 22,000 RIO Ivanovo F 45,000 RIO Kaluga F 20,000 Kaluga XXI Century Kaluga F 25,000 (including 8,000 sqm hotel) RIO Kolomna F 45,000 RIO Moscow F 92,000 Megamall RIO Moscow F 220,000 Erevan Plaza Moscow F 42,000 Furnishings Shopping Moscow F 32,000 Center RIO Europark Moscow F 86,000 RIO Reutov F 175,000 RIO Rostov-On-Don F 100,000 RIO St. Petersburg F 70,000 Paradise Tula F 9,000 RIO Tula F 25,000 RIO Vologda F 50,000 RIO Yaroslavl F 38,000 RIO Yaroslavl F 60,000 FARAON Yaroslavl F 25,000 RIO Kostroma UD 50,000 RIO Lipetsk UD 55,000 RIO Moscow UD 75,000 RIO Moscow UD 76,000 Moscow - Yiwu Moscow UD 100,000 RIO Nizhniy Novgorod UD 100,000 RIO Orel UD 40,000 RIO Saransk UD 25,000 RIO Smolensk UD 30,000 3 ------------------------------------------------------------------------------------------------------------------------------ © 2012 PropertyXpress.com. All rights reserved. Data in this report is for general information only, subject to future revisions. Although every update has been cross-checked to the greater extent we bear no legal responsibility for any loss or damage resultant from the contents of this document.
- 4. International number: +44 20 3397 3086 UK Toll Free number: 0800 1488 224 Mobile: +359 88 8436 403 E-mail: office@propertyxpress.com RIO Tambov UD 58,000 RIO Tver UD 45,000 RIO Arkhangelsk P 40,000 RIO Arkhangelsk P 55,000 RIO Bryansk P 60,000 RIO Kaluga P 90,000 RIO Kirov P 40,000 Shopping center Moscow P 100,000 (Vernadsky Prospect) RIO Orsk P 45,000 RIO Petrozavodsk P 50,000 FARAON-2 Yaroslavl P 40,000 OFFICE Business Center TASHIR Erevan F 2,000 Business Center Erebuni Erevan F 15,000 Plaza Business Center Kaluga F 2,650 Business Center Kaluga F 2,200 Business Center SK- Kaluga F 20,000 Plaza Business Center on Moscow F 8,000 Podkolokolny lane Gazoil Plaza Moscow F 37,000 Business Center TASHIR Yaroslavl F 70,000 Business Center SK- Yaroslavl UD 30,000 Plaza RESIDENTIAL Tulskaya Str. Kaluga F 15,000 Georgia Dimitrova Str. Kaluga F na Kronshtadtskiy Moscow F 43,000 Generala Popova Str. Kaluga UD na Stepana Razina Str. Kaluga UD na Boldina Str. Kaluga UD 12,500 Dirizhabl Moscow UD 100,000 Gazoil City Moscow UD 207,000 Satellite town Gazoil Moscow P 1,000,000 Park 4 ------------------------------------------------------------------------------------------------------------------------------ © 2012 PropertyXpress.com. All rights reserved. Data in this report is for general information only, subject to future revisions. Although every update has been cross-checked to the greater extent we bear no legal responsibility for any loss or damage resultant from the contents of this document.
- 5. International number: +44 20 3397 3086 UK Toll Free number: 0800 1488 224 Mobile: +359 88 8436 403 E-mail: office@propertyxpress.com HOTEL & LEISURE Park-Hotel Kaluga F 2,500 Skiing complex Kwan Kaluga F 190,000 Hotel Kaluga Kaluga F 8,000 Complex Ugra Kaluga F 2,000 SK-Royal Moscow F 20,000 Complex Tashir Sochi F 7,000 Complex Tashir Yalta F na Mixed-use recreation Moscow UD 70,000 complex Hotel Tula Tula UD 17,000 Hotel (part of the Yaroslavl UD 18,000 City-Park 1000 years of Yaroslavl) Hotel complex Kaluga P 20,000 LOGISTICS Commercial and Kaluga F 30,000 logistics center HOLODILNIK Promyshlennaya Str. Moscow F 35,000 Production, repair and Moscow UD 13,620 warehouse complex Source: Tashir Group *F = Functioning, UD = Under Development, P = Project, PL = Pipeline Since 2005 Tashir has commissioned 21 shopping centers, most of them under the RIO brand, in Moscow, St. Petersburg, Kolomna, Yaroslavl, Belgorod, Reutov, Ivanovo, Tula, Kaluga, Vologda, Rostov-on-Don, and Erevan. A further 10 shopping centers are currently under development in Moscow, Oryol, Kostroma, Tambov, Lipetsk, Saransk, Smolensk, Tver and Nizhny Novgorod. Nine retail centers are in the “project” phase: in Moscow, Yaroslavl, Petrozavodsk, Bryansk, Arkhangelsk, Kirov, and Orsk. Tashir has developed eight office centers: in Moscow, Kaluga, Erevan and Yaroslavl. There is another one currently under development in Yaroslavl. 5 ------------------------------------------------------------------------------------------------------------------------------ © 2012 PropertyXpress.com. All rights reserved. Data in this report is for general information only, subject to future revisions. Although every update has been cross-checked to the greater extent we bear no legal responsibility for any loss or damage resultant from the contents of this document.
- 6. International number: +44 20 3397 3086 UK Toll Free number: 0800 1488 224 Mobile: +359 88 8436 403 E-mail: office@propertyxpress.com The group’s portfolio also includes several residential complexes: Gazoil City, Dirizhabl and Kronshtadtskiy in Moscow, the future Gazoil Park in Moscow region, and five projects in Kaluga. Tashir has seven functioning hotels: in Moscow, Sochi, Kaluga and Yalta, as well as three more under development: in Moscow, Yaroslavl and Tula, and one that is being projected in Kaluga. FINANCIALS Tashir Group’s revenues: 3 Revenue in bln US$ 2,5 2 1,5 1 0,5 0 2007 2008 2009 2010 2011 Year Mln US$ 2011 2,800 (565 rental income) 2010 1,725 2009 1,509 2008 1,347 2007 1,090 Source: Tashir Group Debt: The debt of Tashir totaled US$ 450 mln as of the end of 2011. Traditionally, the group keeps its debt levels low and prefers to finance its new developments through own resources, including from its retail business. 6 ------------------------------------------------------------------------------------------------------------------------------ © 2012 PropertyXpress.com. All rights reserved. Data in this report is for general information only, subject to future revisions. Although every update has been cross-checked to the greater extent we bear no legal responsibility for any loss or damage resultant from the contents of this document.
- 7. International number: +44 20 3397 3086 UK Toll Free number: 0800 1488 224 Mobile: +359 88 8436 403 E-mail: office@propertyxpress.com FUTURE PLANS Tashir Group plans to put 11 projects into operation in 2012, totaling more than 600,000 sq. m. Among them are nine shopping centers: two in Moscow as well as in Rostov-on-Don, Nizhniy Novgorod, Orel, Saransk, Kostroma, Tambov and Arkhangelsk. Two hotel projects will be completed in the coming months: a 70,000 sq.m mixed-use recreation complex in Moscow as well as a hotel in Yaroslavl. Besides, the group will actively monitor the real estate market looking to acquire new assets, especially in Moscow. CLIENTS/TENANTS/PARTNERS Besides its own retail chains, tenant list of Tashir’s shopping centers include the following retailers and brands: Nash Hypermarket (OAO Seventh Continent), Spar, Quiz, Eldorado, Sportmaster, Auchan, Victoria supermarket chain, M. Video, Sportmaster, Cinema Star, Zolla, O’Stin, Gloria Jeans, Modis, L’Etoile, Centro, Randez-vous, Vito Ponti, etc. COMPETITORS Among the groups competitors are: • (shopping centers): IKEA, Adamant, Crocus Group, TEN Group, Regions Group, Finstroy; • (residential): Etalon Group, SU-155, Morton, PIK Group. ------- ---- ------- Sources In this report has been use information from the following sources: PropertyXpress.com, Tashir Group, InfoLine, Kommersant, Forbes, RBC Daily, Vedomosti, Reuters, Bloomberg, The Marker, RIA Novosti. 7 ------------------------------------------------------------------------------------------------------------------------------ © 2012 PropertyXpress.com. All rights reserved. Data in this report is for general information only, subject to future revisions. Although every update has been cross-checked to the greater extent we bear no legal responsibility for any loss or damage resultant from the contents of this document.