Quinn group opens Q-Park Kazan, Russia

9 Mar, 2009, Moscow

As part of their on-going investment projects in Eastern Europe, the Quinn Group based in Co. Fermanagh have today announced the opening of Phase I of their logistics facility, Q-Park in Kazan, Russia. The city of Kazan is strategically located in the very heart of the Russian Federation about 800 km east of Moscow. As the capital of the Republic of Tatarstan, and with a population of 1.5 mn people, the city has had a long tradition as a trade centre between the east and the rest of Europe.

Phase I of the facility is over 83,000 sq m, is built to the highest specification and sets the standard in logistics construction in Russia. It has already attracted interest form many large international players with the likes of Schneider, McDonalds and Michelin already having agreed terms. Despite the economic downturn, the Quinn Group is very confident that construction of this quality in the emerging regions of the world will be very successful. The massive increase in efficiency and cost control associated with the facility in comparison with traditional warehousing is very evident for those companies already operating from the centre. Phase 1 of the facility when fully leased is expected to provide employment for up to 2,000 local people. Following the completion of the lease process the Quinn Group already has design plans for the construction of subsequent phases of the project which would transform the area into a central logistics hub for the Upper Volga region.

The Q-Park was officially opened today by the Prime Minister of Tatarstan Republic, Rustam N. Minnikhanov. The Prime Minister has been a strong supporter of the Quinn Group’s investment in Tatarstan Republic.

The opening of Q-Park, Kazan is another success from the Quinn Group and follows the recent openings of other property assets in Eastern Europe including the “Kutuzoff Tower” office center in Moscow, and the “Leonardo” office centre and “Univermag Ukraina” Shopping Centre in Kiev among others in Central Europe and India. The Quinn Group continues to have high expectations about future investments in Russia, Eastern Europe and India.

Cushman & Wakefield Stiles & Riabokobylko is the exclusive leasing and marketing agent for this project.

Kevin Lunney, Quinn Group Development Director: “We are extremely proud that Q Park Kazan - one of our most exciting projects – received the endorsement of the local government. Our warehouse complex meets the highest standards of construction and is already a popular choice for Russian and international companies looking for first class warehousing facilities in the Kazan area.”

Egor Dorofeev, Associate, Head of Warehouse & Industrial, C&W/S&R: “Q Park Kazan is a truly unique project that sets the quality benchmark for modern warehousing and logistics facilities and has already been appreciated by potential tenants looking for high-quality warehouse space to meet their business needs. We are proud to be part of another Quinn Group success story.”

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