Glorax Group has begun negotiations with Chinese investment funds to fuel new projects for real-estate development and infrastructure objects.
The Moscow-based company entered the St. Petersburg market last year after securing the rights to construct ‘The English Mile’ residential complex along the Peterhof highway. Since then, Glorax Group has begun developing five active sites throughout Russia’s second largest city.
“By the end of year, we’ll hopefully have boosted the real-estate profile in St. Petersburg by 500 thousand square meters,” said Alexei Balykin, CEO of Glorax Development. “And of course the five-year plan — one million square meters.”
In expanding its portfolio, Glorax Group has sparked interest from investors on a global scale. Additional projects for real estate and infrastructure are being planned, and three Chinese investments funds have entered negotiations with Glorax Group to enhance their development.
Stay tuned for future updates on the projects.