The developers in St. Petersburg not only made it through the difficult year 2022 without suffering any injuries, but they were also able to keep up with their construction efforts throughout the year. Andrey Berezin, chairman of the board of Euroinvest Development, one of the largest developers in St. Petersburg and the region, spoke about how the construction industry has adjusted to changes in the real estate market.
Euroinvest Development- One of the Largets Developers in St. Petersburg
Euroinvest Development is one of the largest developers in the region. One of the most significant real estate developers in the area is Euroinvest Development.
According to Berezin, the most significant factor in demand over the past few years has been the availability of affordable mortgages. As was to be expected, the rise in interest rates caused a decline in the number of people interested in purchasing a residential property. During an interview with RBC, he was asked about this topic.
The businessman explained that the strategy of his company is to construct popular residential projects by utilizing its own resources, such as financial ones. He explained that the use of such a strategy makes it possible for the business to remain sustainable.
The businessman made the observation that the holding’s portfolio of land plots makes it possible, in the coming years, to provide residents of St. Petersburg with up to 900,000 square meters of housing space. On the other hand, he claims that “Euroinvest Development” will not artificially inflate the business by simultaneously using all of the lands for the construction of high-rise buildings.
On the other hand, the company engages in projects in which it either purchases land or negotiates equity terms with the owner of the property. Because of this strategy, the holding generates a profit for the owners of the land, “because they understand that we have the best conditions, we keep our word, and we rent houses ahead of schedule.”
For instance, the Berezina company was able to commission iD Murino and Kudrovo ahead of schedule, and the construction of iD Park Pobedy is currently ahead of schedule. The specialists at Euroinvest are hard at work finishing up projects that they have already begun and are not in a hurry to start new ones.
According to the businessperson, Euroinvest Development has higher prices per square metre on the market, but this can be attributed to the higher quality of housing that they provide. He stated that the holding does not compete with other businesses in terms of pricing.
The developer placed a strong emphasis on quality assurance. According to Berezin, Euroinvest is in the lead due to the high quality of the product, and the company will continue to adhere to and improve upon the strategy that was selected.
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