Knight Frank has won a multi-million-pound contract to manage Europe’s first “supertall” skyscraper.
Russian developer Mirax appointed the agent this week to manage its 93-storey, 1,140ft Federation Tower in Moscow.
The 4.5m sq ft Federation complex includes over 2m sq ft of offices, as well as hotels, flats, restaurants and 500,000 sq ft of shops.
The management contract, the biggest in Russia, will run until 2010. It will also grant Knight Frank the right to manage any further skyscrapers developed by Mirax in Russia and elsewhere.
As part of the deal, Knight Frank Russia will form a new joint venture with Mirax to offer management and advice to other tower developers.
Howard Woollaston, Knight Frank’s head of professional services, said: “The point is that no one is doing this in Russia at the moment. We will bring in expertise not only from the UK, but the US, Australia and Asia.”
Mirax did not invite Russian companies to bid, stating that it required “Western experience”. The four underbidders included Cushman & Wakefield and
CB Richard Ellis affiliate Noble Gibbons.
Knight Frank moved into the Russian market in 2003 when it bought Moscow-based agent PMC. It has since grown from 40, to over 100 staff in Moscow and 40 in St Petersburg.
Knight Frank was also the consultant on management issues for the 800m tall Burj Dubai, which will be the world’s tallest building when it is completed next year.
References: EGi News 10/07/06
