The developer of the resort city Gatchina Gardens and the international consulting company Knight Frank St Petersburg signed a cooperation agreement. As part of the agreement, Knight Frank St Petersburg specialists conduct a SWOT analysis of a development project that has no analogues in the North-West region of Russia.
In particular, the consulting company determines the capacity of the residential real estate market in the suburbs of St. Petersburg, and also analyzes the existing and prospective transport infrastructure.
The study also estimates the prospective value of residential real estate for the first investment phase, which will occupy 100 hectares in the Gatchina district of the Leningrad region. The total area of the entire project is 620 hectares. Terms of construction of the first stage are divided into turn, their planned completion date is 2024. Recall that in December 2017, the construction of the first housing and infrastructure facilities of the resort city Gatchina Gardens began.
According to Igor Kokorev, head of strategic consulting at Knight Frank St Petersburg, the company’s specialists have revealed a relatively low level of development of the business class real estate market in the suburban area of St. Petersburg. There are few objects here, and the range of characteristics and prices is large. There are no significant areas of homogeneous high-quality housing development, the pace of sales of new projects, as a rule, is low.
“For the Gatchina Gardens project, we are studying international experience in the development of high-class suburban real estate, as well as features of markets, the ratio of prices in cities and suburbs, the needs of buyers. In the suburban areas of St. Petersburg, the current supply level almost does not reveal the potential of the market, “Igor Kokorev emphasized.
The investor of the project of the city-resort Gatchina Gardens is the Swedish investment group CastorX Capital, which has extensive experience in realizing development projects in Europe. The concept of the resort city was developed by leading European architects under the guidance of the developer and investor Magnus Isaksson. It is planned to build about one million square meters of low-rise business-class housing, SPA hotels and sanatoriums, a sports and entertainment center and water park, a medical clinic, a complex for treatment and accommodation of the elderly “Golden Age”, create recreational and park areas . In the open sale of the house Gatchina Gardens has not yet arrived. Due to the limited supply, the developer is now considering only corporate sales. There are corresponding negotiations with several large companies. Over 12 years, at least 210 billion rubles will be invested in the development of the resort city Gatchina Gardens.