Russian Real Estate Investment Company : RURIC can now sublease Fontanka 57

07/11/2012| 06:30am US/Eastern

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Press release 11-07-2012

The Russian Federation has officially granted to LLC Litera, a company 50% controlled by Ruric AB and 50% by Scorpio, a right to sublease the building located at Fontanka 57. 

Ruric is now authorized to sublease separate premises at Fontanka 57 without getting a special permission from the federal authorities for each tenant. 
The total area of the complex is approximately 18,000 square metres. 
Ruric also engaged Colliers, the global commercial real estate agent, to develop the concept for Fontanka 57 best use. 

As the bondholders blocked the deal with Scorpio on Fontanka 57, Ruric is now looking for the possibilities for financing the project development based on its position as a 50% participant of the project. 

Russian Real Estate Investment Company AB (publ)

For additional information
Ingvar Ljungqvist, CEO
Phone          +46 8 509 00 101
email           iljungqvist@ruric.com:
mailto:iljungqvist@ruric.com  
web              www.ruric.com:
http://www.ruric.com

ABOUT RURIC

Ruric's business strategy is to manage real estate in the center of St Petersburg. In addition Ruric shall also acquire real estate and implement value creating additional investments at attractive conditions. Through professional management and good tenant relations spaces of high class are offered to tenants looking for possible spaces in central locations willing to pay for it. Ruric offers primarily office- and retail premises.

 Ruric's Certified Advisor at First North is Erik Penser Bankaktiebolag.

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