PRESS: Yandex may build headquarters near Luzhniki Stadium

MOSCOW, Sep 25 (PRIME) -- Russian Internet company Yandex has found several sites for construction of headquarters near the Luzhniki Stadium in Moscow, business daily Vedomosti reported Tuesday citing the company’s partner.

Talks on one of the sites are already at an advanced stage, but the deal has not been closed yet, one of the sources said declining to name the site. An official representative of Yandex told the daily he was not commenting on rumors.

Two consultants that worked with Yandex said the company could purchase the Korston hotel on Kosygina Street and an adjacent site. The hotel will be either demolished or significantly rebuilt.

Another consultant and developer working in this district said that Yandex was also considering acquiring the Soyuz plant on Luzhnetskaya Quay, but failed to agree on the purchase.

At the first stage, Yandex may build 120,000–150,000 square meters, two consultants that worked with the company said. Key Capital CEO Sergei Kamlyuk has calculated that investments in only construction of the facility may amount to 12–15 billion rubles and reach 18–22 billion rubles with utilities, finishing, and filling of the offices.

At present, Yandex leases slightly less than 55,000 square meters in the Red Rose business center in Moscow’s Khamovniki district, with the leasing agreement expiring in late 2021. The company also leases around 10,000 square meters in the Aurora Business Park office near the Paveletsky railway station.

(66.1594 rubles – U.S. $1)

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