Gals-Development

Hals-Development, a development company specializing in the commercial and residential real estate segments, controls all stages of the project life cycle from concept development to subsequent management of the finished object. The main shareholder of Hals is VTB Bank (51.24%).

History and Performance Indicators

2024: Kievskaya Ploshchad bought the Central House of Artists from Hals Development

In April 2024, it became known that Kievskaya Ploshchad bought the Central House of Artists from Hals Development.

The Central Children's Store at this time has about 140 points of sale and about 20 more cafes and restaurants.

The building built in 1957 was owned by Hals-Development and the developer has long been looking for those who want to buy this asset.

The company carried out its reconstruction, filled it with tenants and was ready for sale as part of its development strategy.

The cost of the Central House of Artists, according to RBC, could be up to 20 billion rubles, since this is a "trophy" object in the center of Moscow with a stable rental income.

2021: Increase in real estate sales by 55%, to 10.3 billion rubles

Building elite housing "Hals-Development" in 2021 increased real estate sales by 55% compared to 2020, to 10.3 billion rubles. The company released such data at the end of January 2022.

Total revenues to the developer from real estate sales and rental activities in 2021 amounted to 30 billion rubles. Revenues from sales of investment real estate amounted to 6.5 billion rubles, from rental activities - 2.7 billion rubles. Revenues from fee-development projects exceeded 10 billion rubles.

Building elite housing "Hals-Development" increased real estate sales by 55% in 2021

According to the structure of demand, suburban housing was the most popular among the facilities of the Hals-Development Group of Companies in 2021. Sales in the elite cottage village "Birch River Village" on Rublevo-Uspenskoye highway amounted to 4.5 billion rubles, which exceeds the indicators of 2020 by 55%. Sales growth in the Iskra-Park premium project amounted to more than 34%. In urban projects of the elite segment - de luxe * quarter "Theater House" and quarter "Gardens of Beijing" - sales increased by 19% and 17%, respectively.

At the end of 2021, the company's rental receipts from commercial real estate (excluding assets sold) amounted to 2.4 billion rubles, which is 40% more than in 2020. In 2021, the company closed the largest transaction in the office rental market: the# BusinessClub network rented about 25 thousand square meters. m in the Iskra-Park business center, which will be occupied by the OZON marketplace. By the end of January 2022, 90% of the space was leased at the premium business center.

In addition, in 2021, Hals-Development closed the deal to sell the Beijing hotel and office complex and acquired new assets: the company's project portfolio was replenished with plots with a total area of ​ ​ about 250 hectares. Among the promising projects are residential complexes and office real estate within the borders of old Moscow, cottage villages in the western direction of the Moscow region.^[1]

2020

GC "Hals" sold the tower "A" of the SkyLight business center, which is leased from Mail.ru Group until 2026

At the end of December 2020, the Hals group announced the sale of Tower A of the SkyLight business center, which was fully leased to the Mail.ru Group until April 2026 (this building houses the headquarters of the Internet holding). Read more here.

Restructuring of Hals-Development business completed

Hals-Development announces in July the completion of the main stages of corporate business restructuring and the formation of a group of companies - holders of built assets and new promising sites.

The Hals Group of Companies has been formed within the closed combined mutual investment fund "Development Assets" under the trust of VTB Capital Pension Reserve, a professional licensed manager since 2006.

The key company of the Group will be Hals Asset Management LLC, under whose management it is planned to structure the main assets: SkyLight Business Center, CDM on Lubyanka, Theater House, Iskra Park Business Center, Beijing Gardens and others. Business transformation will allow the company to implement projects using new financing and management mechanisms.

The company is building the second stage of the administrative and business quarter "Nevskaya Town Hall" in St. Petersburg. A pool of new sites with a total area of ​ ​ more than 230 thousand square meters. m for the construction of residential and commercial real estate in segments from business class and above, the acquisition of which is planned by the end of 2020.

"Today we are turning the next page in the history of Hals and launching a new stage in the development of the company," said Viktor Adamov, a member of the investment committee of ZPIF Development Assets. - It is fundamentally important for us to preserve and increase all the achievements of the brand, which has confidently gained the trust of its customers and partners. The main shareholder of the company - VTB Bank supported the corporate restructuring strategy and does not plan to go out of business, which guarantees our clients high financial reliability. Since its inception in 1994, the Company has completed more than 50 projects that have become part of the architectural appearance of Moscow. The total volume of development projects is 2.2 million square meters. m. The company built and reconstructed such iconic facilities as the Central Children's Store on Lubyanka, the SkyLight business center, the volleyball arena as part of the Match Point IFC, the IQ quarter, the Swissôtel Resort Sochi Kamelia Hotel in Sochi and other projects in Moscow and the regions. "Hals-Development" and the company's projects have repeatedly been awarded prestigious international and national prizes and awards.

The trustee, together with the shareholder (VTB Bank), will monitor the activities of Hals Asset Management LLC and other fund companies. Thus, it is planned to achieve a synergistic effect from the interaction of the professional manager and the new team of top managers. The advantages of the new corporate model should be noted to reduce risks during the implementation of projects and expand the range of possible investors.

For the period from 2016 to 2019, the Hals-Development company, the successor of which is Hals Asset Management, commissioned more than 1.2 million square meters. m of residential and office premises, and also entered the top 20 most reliable developers. The company's consolidated revenue under IFRS amounted to RUB 170.9 billion.

2017

• The revenue of Hals Intelligent Development in 2017 amounted to 3.4 billion rubles.
• The gross profit of the year in Hals Development Group amounted to 57.3 billion rubles, which was a 2-fold increase from 2016.

The company "Hals-Development" plans to commission three projects with a total area of ​ ​ about 300 thousand square meters. m. - this is the second stage of the residential quarter "Heritage," the elite residential ensemble "Theater House," office towers of the IFC "IQ-quarter" and the terminal complex in the Moscow City Center "Moscow-Siti."

2016

• The developer put into operation 4 projects with an area of ​ ​ about 300 thousand square meters. m. In the stage of active construction there are 5 projects with a total area of ​ ​ about 800 thousand square meters. m.
• Hals-Development increased its rental revenues by 11%, which amounted to RUB 8.6 billion against RUB 7.7 billion in 2015. More than 40% of the proceeds came from the SkyLight business center (tower "A" and tower "B") on Leningradsky Prospekt in Moscow, 21% - from the LETO shopping and entertainment complex in St. Petersburg.
• The Heritage complex (the first and second stages) became the leader in residential real estate sales, which accounted for 34% of the total revenue. In 2016, the Hals-Development company completed sales in the first stage of the complex three months before the end of construction work, in the second stage of the Heritage residential complex today about 90% of apartments have been sold. Revenues from two business class projects - "Property" and "Iskra-Park" amounted to about 2 billion rubles.
• About 36% of sales are in the commissioned elite quarters of Wine House, Beijing Gardens, apartments in IFC IQ-Quarter and the Theater House complex under construction.