Ramstore III

completed

Ramenka Ltd. (or the company), a Russian limited liability company, is one of Moscow''s largest retailers. Operating under the name Ramstore, the company operates four hypermarkets/mini-malls and eighteen supermarkets. Together, the hypermarkets and supermarkets have approximately 52.9 thousand square meters of net retail selling space, and 44.6 thousand square meters of net leasable retail space.Ramenka is undertaking a $185 million expansion. As part of this expansion, Ramenka has already opened a new hypermarket on Leningradsky Prospect (the main highway from central Moscow to Sheremyetevo Airport) and two supermarkets in Moscow. In addition, Ramenka is planning to build a hypermarket on Sevastopolsky Prospekt in Moscow. Ramenka now is proposing to modify the original project with IFC and to complete its current expansion program with constructing a large hypermarket on Prospekt Vernadskogo near the University subway stop in Moscow and opening a supermarket in the town of Podolsk.The store on Prospekt Vernadskogo will have approximately 9.2 thousand square meters of net retail space and over 30 thousand square meters of net leasable space. The store in Podolsk will have 2.4 thousand square meters of net retail space and approximately 6.8 thousand square meters of net leasable space. The hypermarket and supermarket will substitute for four supermarkets originally envisioned in the Ramstore III project.