TriGranit plans major media center in Russia

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MOSCOW -- Budapest-based real estate developer TriGranit is planning to build a major media center in St. Petersburg, Russia, with a budget reaching several hundred million dollars. The Telefabrika complex will be a full-service film studio serving the television and film industry, according to media reports on the TriGranit expansion into Russia.

The Russian-language business daily Vedomosti reported that St. Petersburg Gov. Valentina Matviyenko and TriGranit chairman Sandor Demjan have signed a cooperation agreement to carry out several large-scale urban development projects.

According to the agreement, TriGranit must complete construction of Telefabrika within two and a half years after the city formally allocates the construction site, which is expected to happen within the next two weeks.

It is understood that the media facility also will include a hotel, retail space and underground parking and will be built on the eight-hectare site of a former tram depot on Vasilyevsky Island, a large centrally-located land mass connected to the rest of the city by bridges.

The total investment for the new media facility and a second non-related development project is understood to be some 500 million euros.

Marina Fokina, general director of the St. Petersburg broadcasting company, said that the studio will be in demand because currently there is a dearth of facilities in which to shoot TV series. "Lenfilm Studios does not have enough available studio space, and Sistema Mass Media's studio has not been built yet," she explained.

The TriGranit Group is a fully integrated real estate investment, development and management company. It is the largest real estate developer in Hungary and has operations in 11 countries.
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