Business Nedvizhimost

Оne of the largest real estate owners in Moscow.

Effective
shareholding

100 percent

revenue
in 2020

6.3 bln ₽

total portfolio
of objects

463 thousand sqm

Commercial
property

85 percent of assets

Country
property

15 percent of assets

Development Strategy

Business Nedvizhimost’s business model is focused on three areas:

  • management of rental contracts in the segment of commercial and low-rise residential real estate;

  • redevelopment of commercial properties;

  • maintenance of commercial and residential properties.

All these areas are interlinked within the value creation chain in the commercial segment: the value created through redevelopment is subsequently monetised by leasing the properties, accounting for optimal maintenance plans for each asset.

Business Nedvizhimost's development strategy adopted in 2019 focuses on In-depth redevelopment of certain assets in order to enhance their quality and significantly raise rental rates. One redevelopment option is multi-purpose centres that accommodate traditional offices, co-working and shopping spaces, as well as serviced apartments.The renovation programme is divided into several stages and is designed to run until 2024.

In addition to renovation of own properties, the company plans to purchase assets off the market for in-depth redevelopment, including joint redevelopment with external partners.

The team

Sergey Egorov

Chairman of the Board of Directors

Denis Beer

CEO

Business

Assets

149 cottages

in Moscow and and its surroundings

2,147 land plots

Area of land plots

305.1 thsd sq m

total area of leased out properties
At the end of 2020, the Group comprised over 15 legal entities with a broad pool of properties: mansions, offices and shopping spaces, C class buildings, production and warehouse facilities, cottage estates within Moscow and land plots in Moscow Region. The properties are leased out, while several properties and land plots have been put up for sale. JSC Business Nedvizhimost also offers services in professional real estate management.
Read more 

Financial performance 2019

2.4 bn ₽

adjusted OIBDA
The 11.4% decline in revenue in 2020 was due to the completion of the programme of sales of commercial real estate in 2019. Adjusted OIBDA decreased by 46.1% YoY in the reporting period mainly due to the changed revenue structure with a bigger share of rental revenue, which has lower OIBDA margin. The sale of a non-core asset in the second quarter of 2019 also had an impact on OIBDA. The Group’s net profit was affected by decreasing OIBDA and growing loan portfolio.
Read more 

Business development

305.1 thousand sq m

total area of leased out properties

+ 63 % growth in 2019

of leased-out commercial properties
The company's real estate portfolio grew significantly in 2019 due to acquisition of former ATS buildings with an aggregate area of 220,000 sq m from MGTS. The company now owns Moscow's
largest distributed chain of commercial properties (over 80 buildings). All buildings are leased out, with MGTS being the anchor tenant of the new properties. 

In 2019, the company continued a large-scale renovation of its rental assets in Serebryany Bor, which had begun in 2017 and will be completed in 2020. Under the programme, leased residential buildings and infrastructure facilities have been remodelled and repaired, which contributed to 8 additional houses being leased in 2019.
Read more