Business Club

History

2024: Pavel Tö's son sold 50% of Business Club

In October 2024, it became known that German Tyo, the son of Pavel Tyo, co-owner of Capital Group, transferred a 50% stake in Business Club LLC. BTS2 "to his partner Murad Damirov. This company is one of the management structures of the Business Club flexible space operator.

According to Kommersant, German Tyo and Murad Damirov have one joint venture left - Home Office LLC with equal shares of ownership, which is developing a service for choosing and booking jobs in Home Office co-working spaces.

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Freepik

Business Club, founded in 2018, operates a network of flexible office spaces in the Moscow City business cluster, the Iskra business center in the north of the capital and in Gazetny Lane.

Valentin Kusov, deputy director of the Nikoliers office real estate department, believes that the consolidation of Murad Damirov's business may emphasize the operator's independence from Capital Group.

Ekaterina Belova, head of the office space department at IBC Real Estate, notes the high demand for service offices. Belova notes that at the end of September 2024, the vacancy of jobs in such spaces of Moscow amounted to 5.9%, having decreased from 26.3% at the beginning of 2023.

Ricci|Offices partner Dmitry Zhidkov points out the risks of investing in this format due to the high cost of construction and expensive borrowed funds. Commercial director Pridex Alexander Aleinikov confirms an increase in the cost of finishing in the office market by 15% over the past year.

Kirill Babichenko, head of the services department for owners of the office real estate department of CORE.XP, emphasizes that the development of new flexible offices is constrained by a shortage of space in the Moscow market, where the share of vacant premises has reached a historic minimum of 4.6%.^[1]

Notes