Savills Regulatory News (SVS)

26 Oct 2006 08:51

Savills PLC26 October 2006 SAVILLS MOVE INTO MOSCOW Through an investment in Intermark The Elite Residential Agency in Moscow and the Moscow Region Savills has entered the Moscow market through an investment in Intermark theleading firm of residential estate agents in the city and surrounding region.The deal, which allies Savills with Moscow's leading residential agent, is theresult of a long-running courtship by the two companies. Branded as IntermarkSavills the company will specialise in the following areas of the residentialagency business: Moscow City Sales - the sale of prime residential properties in the prestigiousdowntown areas of Moscow, including apartments in new developments, penthouses,traditional townhouses and mansions. Moscow Out of Town / Periphery - houses in the best suburban areas such as:Rubleveo-Uspenskoye, Pyatnitskoye and Dmitrovskoye, as well as land plots fordevelopment. Investment - the property markets in Moscow have already experienced stronggrowth with some 15 per cent reported during the first quarter of 2006. Improvedlegislation across the property sector, especially in leasing, coupled with theavailability of credit and simplified investment procedures is now producing anattractive investment market. Consultancy - a range of consulting services will be offered by IntermarkSavills to investors, developers, tenants and buyers. Intermark Savills has anestablished team of market analysts advising on the housing market and providinginvestment assessments. Rentals - the company has experienced relocation consultants advising topinternational firms and private clients. It has the largest database of privateand serviced properties to rent in Moscow and the surrounding area. Intermarkhas a 12-year track record of relocating company employees and their families toMoscow and, like Savills, prides itself on the level of services to clients. In addition to the Moscow-based agency business, there is an East meets Westdimension to Intermark Savills through the referral of Russian buyers to SavillsUK offices. The demand for UK property from Russian buyers, especially in PrimeCentral London, has grown markedly in the last 3 years. Jonathan Hewlett, the Savills director responsible for top-end London sales,said: "It is very exciting to be involved in the growing Moscow market as wellas the potential for fantastic referrals of Russians wanting to buy in the UK.In 2005 Russian buyers made up 21 per cent of Savills sales of prime CentralLondon houses and apartments over £5 million, and already by October 2006 theyhave made up 25 per cent". Rupert Sebag-Montefiore, Chairman and Chief Executive of Savills, said: "We aredelighted to have formed Intermark Savills. Intermark is the 'jewel in thecrown' of Moscow residential agency and we have bided our time carefully to formthis alliance. Unquestionably, Intermark Savills is the leading provider ofresidential property services in Moscow and its region where the market looksset to achieve significant growth in the short and medium term". Mark Hamilford, a founding partner of Intermark, said: "We are delighted to joinforces with Savills, which we see as a tremendous opportunity for Intermark andfor our clients and staff. This deal makes us a part of the Savillsinternational group and is great news for our clients as it gives us access tothe Savills Group's properties, expertise and professional experience in variousproperty aspects. We are particularly attracted to Savills global strength." ENDS FOR FURTHER INFORMATION PLEASE CONTACT Jonathan Hewlett, Director Savills Sloane Street: 020- 7824 9018 Rupert Sebag-Montefiore, Savills Chairman & Chief Executive: 020-7499-8644 Mark Hamilford, Partner, Intermark Savills: 007 (495) 502-95-53 Julia Potemkina, Intermark Savills Public Relations: 007 (048) 901-5388671 John Vaughan, Savills Press Office: 020-7034-4725 Notes for Editors Intermark has 13 years experience dealing in the Russian market and is a leadinglocal residential property agent. Intermark provides a full scope of residentialestate agency services including: sales, investments, consulting, lease, andshort-term rent. Intermark also has the largest and most developed database ofelite real estate in Moscow and the surrounding area for sale or letting. Research on the Moscow City Residential Market is available as a PDF fromSavills Press Office: 020-7034-4720 Pictures of Intermark Directors, Alexander Shatalov, Fraser Lawson and MarkHamilford available on request; as are pictures of typical Moscow property nowfor sale and rent through Intermark Savills. This information is provided by RNS The company news service from the London Stock Exchange