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19 Feb, 2008 11:32

London Stock Exchange eyes Russian commercial property

Analysts say commercial real estate in Russia is expected to continue growing this year despite falling overseas. Office and retail space will remain the most attractive.

At a time when property markets are falling in many Western economies, Russian companies could prove attractive for foreign investors.

On the other hand, an increasing number of Russian real estate companies are turning to international capital markets to raise funds.

The London Stock Exchange has sent its executives to Moscow to explore the potential for real estate IPOs.

“We see these developers that are looking for capital right now. They get stopped because it’s much more difficult to get capital these days. So, these companies need to be looking at alternatives and the stock market is still one of the most compelling ones. Yes, the markets are a little bit turbulent right now, but as one of our speakers said we need to start thinking about it today. This is probably the best time to start preparing for an IPO,” said John Edwards, Senior Manager of International Development LSE.