MMK takes part in international commercial real estate and retail exhibition
Magnitogorsk Iron and Steel Works (MMK) is participating in the 20th international exhibition for commercial real estate and retail NatMallExpo 2024, which opened on 2 April in Moscow.
Visitors to MMK’s stand at the exhibition can learn about MMK Group companies’ non-core assets, including promising commercial properties of interest to large investors seeking to diversify their portfolio, such as land plots, production and storage facilities, various non-residential properties and other commercial real estate.
MMK also invites potential investors to become residents of the Industrial Park it established in Magnitogorsk on the grounds of a former calibration plant. MMK Industrial Park, which is accredited by the Ministry of Industry and Trade of the Russian Federation, enables residents to receive state support and tax benefits, including paying zero property and transport taxes, as well as a 3.5% percentage points reduction in the regional component of the corporate tax rate.
The Industrial Park, which covers an area of 66.5 hectares, provides investors with access to industrial sites and the infrastructure needed to start production in the shortest possible time. All the necessary utilities are available, including electricity, natural gas, water supply and sewerage, as well as transport infrastructure, including a developed rail network with direct access to MMK’s rail network and the South Urals Railway.
As of the beginning of this year, 47 companies were registered at the Industrial Park, most of which carry out industrial production. Since the Park was established, its residents have manufactured products worth more than RUB 18 billion; over just the last four years, they have paid more than RUB1.5 billion in taxes, and more than one thousand jobs have been created. The Park is in the process of dismantling dilapidated and crumbling buildings, providing a greenfield site for residents.
In addition, the Company invites investors to take part in a unique urban transformation project, Attraction Park, which was initiated by the Chairman of MMK’s Board of Directors, Victor Rashnikov, who is also the project’s main investor. The project is expected to develop an area of around 400 hectares by 2025 and to create a year-round multifunctional space with a complex of buildings with total floor space covering some 100 thousand square metres, including educational facilities, museums, social and business centres, sports and event facilities, hotels, parks, recreational facilities, and restaurants and cafes. The large-scale project opens up a wide range of opportunities for potential partners to develop businesses in the areas of catering and hospitality, recreational services, retail and event planning.
Properties that are part of the third phase of the Attraction project will be delivered in 2024, including an art district located in the northern part of the park, which will have over a thousand square metres available for lease. Attraction is looking for potential tenants who would like to lease space in the district. Priorities include restaurants and coffee shops, premium clothing and jewellery, beauty salons and photo studios.
The NatMallExpo, which is taking place 2–4 April 2024 at Crocus Expo, is the main exhibition and forum in Russia for commercial real estate developers, retailers and tenants of various types, as well as management, consulting and investment companies. The exhibition’s business programme reflects the hottest topics in the industry, focuses on establishing new standards and brings together experience in real estate management and retail development.