Turner & Townsend has been chosen by SPb Renovation to assist with the delivery of Russia’s most extensive residential construction project in modern history.
The £10billion, 15-year project takes in 22 sites across St Petersburg, involving the construction of 1,200 new buildings and the redevelopment of over 900 hectares.
SPb Renovation is replacing the city’s Soviet-era buildings to create a more modern and sustainable living environment, while also upgrading the standard of new-build accommodation within the city.
Providing new apartments for 450,000 residents – 10 percent of the population – this is a substantial commission, for which we are providing consultancy services for the commercial infrastructure needed to support the new neighbourhoods. We will be offering cost modelling, option appraisal, procurement support and systems development on behalf of SPb Renovation and its development partners throughout the programme’s 15-year period.
Commenting on the appointment, Turner & Townsend Russia/CIS Managing Director, Paul Grace, said:
“We are delighted to be involved in this significant project, which will begin with the transformation of a 65 hectare site on the banks of the River Neva, dubbed the Gutenborg project.
“This is one of the largest projects of its kind in Russia and will have a marked benefit on the city’s residents, creating employment in the region as well as establishing the benchmark for comfort class living for its residents. We look forward to the coming years’ progress.”
Arthur Markaryan, General Director, SPb Renovation, said:
“We are delighted to have Turner & Townsend as our dedicated commercial management partner for the delivery of this new residential quarter in St Petersburg. The team not only shares our vision but bring an unrivalled depth of experience to the programme.”