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Central Asian investors taking interest in Russian real estate — expert

Alan Baloev noted that he was referring to Uzbekistan, Kazakhstan and other countries

MOSCOW, March 22. /TASS/. Investors from Central Asia are showing interest in various assets in the Russian real estate market, Alan Baloev, a partner at Commonwealth Partnership (CMWP, formerly Cushman & Wakefield prior to April 2022), told TASS.

"We are receiving inquiries from investors in Central Asia regarding the identification and acquisition of assets in Russia. We’re talking about [properties valued in the] billions - on average from 1.5-2 billion rubles ($19.5-26 million) to 10-15 billion rubles ($130-195 million)," the expert said, noting that he was referring to Uzbekistan, Kazakhstan and other countries.

Such segments of the commercial real estate market as office complexes, retail/wholesale space and warehousing facilities are the focus of investor interest. Priority is being given to assets that are maximally configured as a source of cash flow, he noted. "Take, for instance, Kyrgyzstan; we weren’t seeing any investors from there before, but now we’re getting requests from them, and [Kyrgyz] business is showing an interest in commercial real estate," Baloev said. "In general, Russian [real estate], [including in] Moscow, St. Petersburg and other million-plus cities, are enormous markets in terms of both capacity and stability, and are currently offering viable investment targets," the expert added.