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Tver Region to get 75-hectare industrial park

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CANNES, March 13 (RIA Novosti) - A British property developer is to build a multi-functional logistics park in the Tver Region, RIA Novosti learnt on March 12.

Speaking at the MIPIM-2008 property market in Cannes, France, a representative of Norman Asset Management said a deal for the 210,000 sq m park had already been agreed.

"A relevant agreement has been recently signed with the governor of the Tver Region," he said.

He said the project would be implemented on a 75-hectare land plot, and would be completed in 2010.

The source added that Norman Asset Management had also proposed to build three other parks, in Rostov-on-Don (120,000 sq m), St. Petersburg (185,000 sq m) and Moscow (225,000 sq m).

Norman Asset Management is a British development company with an office in Russia. It has been operating on the property market since 2001.

The company manages the whole cycle of property development, from site selection and financing through to construction, leasing and sale.

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