The son of a very rich person will construct “Red October”
Vyacheslav Traktovenko formed a company. Vyacheslav, who is the son of billionaire David Traktovenko, started a business offering development services and created the Imhotep-Development company, a correspondent states. Traktovenko is getting ready to build on the land of the Krasny Oktyabr plant on Politekhnicheskaya Street.
Vyacheslav Traktovenko established the Imhotep-Development company to provide development services for a fee, according to sources in the real estate market. Mr. Traktovenko verified this information.
According to him, “Imhotep-Development” will create a plan and project documents for land owners, manage the transfer of land for development, and assist in finding investors.
Vyacheslav Traktovenko founded the Imhotep-Development company to provide fee-based development services, sources in the real estate market told the publication. Mr. Traktovenko confirmed this information. According to him, “Imhotep-Development” will develop a master plan and project documentation for land owners, coordinate the transfer of land for development, and help in finding investors.
The construction of the “Red October” plant on Politekhnicheskaya street
As Vyacheslav Traktovenko explained to Kommersant, Imhotep-Development will work with sites for redevelopment within the city and with large suburban areas. We are talking about land for integrated development in St. Petersburg and other cities where housing, public, business and industrial facilities can be built, he notes. The concept of several sites is currently being developed, including the territory of the former Demidov plant in Nizhny Tagil (30 hectares). Mr. Traktovenko does not disclose other projects. According to sources from Kommersant, Imhotep-Development is also preparing a concept for the redevelopment of the Krasny Oktyabr plant on Politekhnicheskaya Street in St. Petersburg. The company did not respond to journalists’ questions.
Fee-based development is in demand, especially among non-core owners, as it allows them to increase the value of a land plot, says Anton Orlov, director of the land sales and development projects department at Nikoliers. Site owners are interested in these services, as they anticipate a rise in demand for housing over the next few years, adds Andrey Veresov, former executive director of Akvilon Group of Companies. However, it will be easier for site owners to seek assistance from a developer who is keen on buying the site, rather than using the services of an intermediary, Anton Ivanov, development director of the Basis-SPb construction company, explains, according to Kommersant.
Fee-based development has not become established in the St. Petersburg market: typically, the internal services of developers or involved design organizations handle the coordination and packaging of projects, says Andrey Boykov, managing partner of Rusland SP. The fee-developers in St. Petersburg mainly deal with spot development projects, while working with multifunctional sites will allow them to attract a range of investors for various purposes, Mr. Traktovenko argues.
Smolny is more likely to approve residential development as part of a multifunctional project, Mr. Veresov believes. But for this, it will first be necessary to agree with a “clear” developer on the development of a particular territory, he concludes. The division of projects into residential and non-residential parts may lead to the fact that the commercial part, as less liquid, will be sold much longer, NF Group warns.
According to Kommersant, Vyacheslav Traktovenko is the son of the St. Petersburg businessman David Traktovenko. His family owns shares in the structures of the Baltros group of companies, which was engaged in the development of the Slavyanka and Novaya Izhora regions. The Ministry of Defense has become a major buyer of housing in these projects. In addition, David Traktovenko is the owner of Zanevsky LLC, which owns more than 180 hectares in the village of Shushary.
