Tashir Group took the 8th place in the rating of the largest owners of commercial real estate in Russia in 2008, published by the Forbes magazine.

The Forbes magazine published the annual rating of the largest owners of commercial real estate in Russia, whose annual receipts had grown from $3 billion to $4.8 billion. Dutch company IKEA still remains the largest beneficiary in Russia, it has increased its annual receipts in 2008 by 129 million to $1.26 billion
 
The rating was based on possible receipts amount the company would be able to receive by leasing all its premises.

It is the fifth time when Forbes publishes the rating of the largest owners of commercial real estate in Russia. Since 2005 when the first rating was published the market tended to positive dynamics: by 2008 the annual receipts of the 30 largest beneficiaries has grown from 1.8 billion to 4.8 billion, the Forbes reports.

IKEA, owning 11 trade centers in Russia, is in the first place of the rating. Within one year the company has increased the summary area of the trade premises from 980 thousand sq.m. to 1.37 million sq.m. The company has managed to repeat its success of the previous year and to keep the position of the largest developer in commercial real estate. However, considering the receipts of the company, which increased in 2008 from 1.14 to 1.26 billion it will be very difficult for the other companies to reach these results. The annual receipts of the other owners of commercial real estate in Russia does not even exceed half a billion dollars.

The second place of the rating is taken by Turkish company ENKA. It went one position up within this year, increasing its receipts from $303 million in 2007 to $450 million in 2008.
It is remarkable that last year the second place in the Forbes rating was taken by one of the most closed market participants, company Safra Instruments, headed by Zarakh Iliev (see additional materials about his person). Later it was renamed into Group of companies by God Nisanov and Zarakh Iliev. Its receipt in 2007 by Forbes was $568 million, that is more than ENKA has now at results of 2008. However in the new Forbes rating of 2008 Group of companies by God Nisanov and Zarakh Iliev is not mentioned even in top 10. At the same time, in the rating there appeared GC Kievskaya Ploshad, the owner of the Evropeysky trade center and hotel Ukraine in Moscow, which used to be property of Iliev and his company. It was the GC Kievskaya Ploshad which took the third place with receipt of $430 million in 2008. By information of the magazine, the Group of Companies manages 450 sq.m. of commercial real estate. The RB source at the market of commercial real estate presumes that the company belongs to Iliev.

Group of companies Krokus, the developers of Krokus City in Moscow, has lifted in the Forbes rating by 2 positions (from the sixth to the fourth place), leaving aside Group of companies Adamant and group of companies PIK. The magazine informs that the increase of office, exhibition and trade premises (from 145.5 to 457 thousand sq.m.) made double receipts of the company. In 2007 GC Krokus earned $155 million, and in 2008 already $300 million.
The fifth place in the rating, like last year, is GC Adamant, the largest owner of commercial real estate in St.Petersburg. Its receipts last year were increasing, but not so fast as that of GC Krokus. Within one year it increased from $159 million to $270 million.

Second five of the top-10 Forbes rating:

6. Group of companies BIN. The receipts in 2008 have grown from $184 million to $270 million. Office and trade premises has grown from 177.6 sq.m. to 490 sq.m. It had the fourth place in the rating last year.

7. Promsvyaznedvizhimost. Receipts in 2008 increased from $72 million to $170 million. Office and trade premises have increased from 99.3 sq.m. to 235 sq.m. It had the eleventh place in the rating last year.

8. GC Tashir. Receipts in 2008 has grown from $67 million to $130 million. Office and trade premises have increased from 123.8 sq.m. to 278 sq.m. It had the twelfths place in the rating last year.

9. Khorus Capital (the owner of ten offices of A and B classes in Moscow). Receipts in 2008 made $130. Office premises 305 sq.m. Place in the last year rating - none.

10. Forum properties (receives income from leasing premises in 15 office centers, two thirds of which are of A-class). Receipts in 2008 made $110 million. Office premises are 150 sq.m.

The complete version of the Forbes rating will be published in paper in the Russian version of the magazine in February. Among the thirty largest owners of commercial real estate in Russia made by Forbes there are companies: Eurasia Logistic, RTM Group, Capital Group, Millhouse Capital, ALM-Development and ACT Group.