Nov 7, 2014 / Russia

Oracle Moves to Comcity

PPF Real Estate Russia, the developer and managing agent of A class office complex, Comcity, announces that it has signed an office lease agreement with Oracle Corporation. Under the agreement, Oracle Corporation will lease premises of 6,370 m2 at Comcity. JLL and CBRE brokered the agreement. 
Rostelecom and Systematica Group have already agreed to move to Comcity as tenants. They will take occupancy once the fit-out is complete at the beginning of 2015. 
Comcity office park is situated on the junction of Kiev Motorway, near the Moscow Ring Road, a 5-minute walk from Rumyantsevo metro station. In September, phase one of the construction project was put into service. Phase two is due to be complete in 2016.
Tomas Lastovka, investment director of PPF Real Estate Russia said: ‘Even before phase one was finished, nearly 80% of the premises was leased, demonstrating a trend of market decentralisation. Leasing office space outside the centre of Moscow is more attractive in terms of price, and can provide tenants with higher quality office space. A move away from the centre of Moscow not only solves the well-documented traffic issues but also an adequate car parking is provided and tenants will find well-developed infrastructure, recreation areas and sports & fitness facilities here.’
Elizaveta Golysheva, JLL’s deputy director for relationship with office owners said: ‘Traditionally office complexes and the “city within a city” format are popular with IT companies, as such tenants have strong demands in terms of  infrastructure, surroundings, and technical and engineering specifications. Comcity office complex meets the requirements of the industry ideal: it was designed and built taking into account innovative modern development technology as well as the LEED Gold standards of environmental certification.’
Natalia Zharova, deputy director for corporate sales at CBRE, Russia said: ‘We have carried out thorough research in the office premises market and chosen Comcity which fully meets modern requirements of commercial real estate: high quality of construction, efficient floor layout, and optimisation of office lease costs. This agreement is a vivid example of decentralisation trends in the commercial real estate market.’