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The board of directors of St. Petersburg Technopark, headed by deputy-governor Mikhail Oseyevsky, has approved, resized and refinanced the IT-Technopark project, which is due to be completed by 2015. Designed by HOK International architecture bureau in London, the IT-Technopark will be located on the premises of the Bonch-Bruevich St. Petersburg State University of Telecommunications in the Nevsky District near Dybenko metro station. It will be comprised of three buildings of 75,000 square meters each, as well as educational centers, dormitories, offices and parking lots. The park will accommodate about 15,000 programmers and provide some of them with cheap housing. The apartments will belong to the city, along with all of the technopark’s assets. Non-commercial real estate construction and further expenses will be covered by the federal and state budgets, while private investors and developers will be responsible for the commercial objects. Technopolis, one of Europe’s largest technology centers and the largest company in Finland specializing in providing operating environments for hi-tech companies, is one of the project’s three developers and is prepared to invest $150 million. But the planned IT-Technopark is now smaller than original plans. City Hall officials — major investors and monopoly supervisors — seem to be realizing that the demand rate might be low if the rents are high, and are therefore finding ways to make the project cheap but not unattractive. “Let’s not go for expensive solutions like marble decorations and underground parking lots,” said Oseyevsky. The total estimated amount of investment has now been cut from $1 billion to $800 million, while the combined estimated area has shrunk ... |
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OPEN DOORS
Alexander Belenky / The St. Petersburg Times
St. Petersburg Stock Exchange Director Viktor Nikolaev pictured outside the exchange, which began operating Monday, despite a ruling by the city planning council that the building broke regulations. |
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MOSCOW — As Russia’s business and political elite wound up their weekend gathering in St. Petersburg, the local markets received a short-term lift, but wider concerns over global inflation lingered through the week. Russian bourses shrugged off global worries last Monday, with investors chewing on the prospect of Svyazinvest’s privatization and positive ...
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NOVY URENGOI, Yamal-Nenets Autonomous District — Unified Energy System has begun the construction of a new, 450-megawatt production unit at the Novy Urengoi power station to provide much needed electricity for the country’s largest oil- and gas-producing ... |
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VIENNA — The Austrian builder Strabag has won a 1 billion-euro ($1.5 billion) share of a contract to build an eight-lane highway around St. Petersburg. The ... |
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Construction Boom ST. PETERSBURG (Bloomberg) — The arrival of foreign carmakers including Volkswagen AG and PSA Peugeot Citroen in Russia’s Kaluga region has spurred a construction boom there, Vedomosti reported. South Korea’s Shinchang Construction ... |
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MOSCOW — President Dmitry Medvedev called for the country to be assigned an Internet domain name in the Cyrillic script on Wednesday as part of a Kremlin ... |
 As Russia’s economy continues to grow, more Western companies are entering the country in search of investment opportunities, including IT firm Hewlett-Packard, which with Foxconn last month broke ground on a $50 millionnew computer plant in St. Petersburg. Owen-Christopher ... |
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MOSCOW — The economy and state coffers may be bulging from sky-high oil prices, but the soaring cost of aviation fuel could soon drive some of the country’s ... |
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MOSCOW — When Apple CEO Steve Jobs announced last week that the company would begin selling its high-speed iPhone 3G in 70 countries this summer, Russian fans were enraged that their country was conspicuously absent from the list. But in a televised interview last week, Jobs offered what could be a ... |
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