PRESS: Yandex needs more time for new HQ, may stay at Krasnaya Roza

MOSCOW, Dec 11 (PRIME) -- Internet holding Yandex, which has not started building its new headquarters Vorobyovy Gory, in the southwest of Moscow, is looking for lodging and could stay at its current location, near the Gorky Park, also in the capital, business daily Kommersant reported on Wednesday.

Yandex is in talks with KR Properties of Alexander Klyachin, owner of hotel chain Azimut, on prolongation of a rent agreement at business quarter Krasnaya Roza, where it now rents more than 60,000 square meters till the end of 2022.

The company was reported in late 2018 to buy hotel Korston for construction of its new headquarters for U.S. $145 million.

Sources told the daily the holding would not manage to erect the building by the end of its contract with KR Properties since Yandex does not have an approved project of construction.

KR Properties General Director Sergei Matyukhin said that the company is always in dialogue with anchor lessees.

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