Apr 30, 2014 / Russia

Rostelecom Signs Collateral Agreement for Office Rental in Comcity, PPF Real Estate‘s Office Park

Rostelecom and PPF Real Estate Russia, the developer managing Comcity, have officially signed a collateral agreement to the previously signed preliminary agreement on office rental. In accordance with the collateral agreement, Rostelecom has reduced its rental area to 58,500 sq m.
"Since we signed the previous agreement with PPF, our parameters have been revised due to  ongoing operational efficiency processes at Rostelecom. Our required rental area is calculated and optimised based on the detailed analysis of staff numbers and the efficient allocation of work zones. As a result, Rostelecom has reduced its office space needs but nonetheless remains Comcity's flagship leaseholder." commented Rostelecom's vice-president, Alexander Abramkov. .
The decision to move, potentially in 2015, allows Rostelecom to consolidate its regional offices in Moscow as well as those of its subsidiaries and affiliated companies. 
Tomas Lastovka, Development Director at PPF Real Estate Russia said: "Signing this collateral agreement is an important milestone for Comcity: Rostelecom is a reliable partner for us and an important contributor to the success of Comcity". As of today 70% of the area is already leased: the second key leaseholder is Systematica (Group of Companies Systematica – GKS), one of Russia's leading IT companies.
Comcity is an A class office park located at Kievskoe shosse next to MKAD, the Moscow city ring road, and 350m away from Rumyantsevo Metro station. The innovative "city within a city" format combines high-quality office space with complementary well-developed infrastructure. The Comcity 'Alpha' phase of construction is nearing its end, with the delivery of 107,500 sq m. to leaseholders set to take place in the second half of 2014.