Limitless storms into Europe with giant Russian project

The project will be realised in partnership with leading Russian investment and development company, Coalco.

This is one of the largest projects planned by an international developer anywhere in the world today. Spread over an 18,000 hectare site in the Moscow region, Great Domodedovo will be a fully-fledged and structurally balanced city.
The development will boast a carefully weighted grouping of residential, commercial and employment units as well as educational, recreational and entertainment facilities, all supported by world-class infrastructure and amenities.

Chairman of Dubai World, Sultan Ahmed Bin Sulayem said, "Limitless applies a strict set of development criteria both macro and micro in nature to determine which markets it enters or projects it develops. Russia is an extremely attractive market due to active economical development and high potential for large-scale real estate projects. It is one of the strategic markets identified by Limitless and the company is therefore committed to a long term, sustainable approach to its activities in Russia."

Saeed Ahmed Saeed, Chief Executive Officer of Limitless commented,

"In Coalco we found a special partner who shares our vision and also a very progressive group, open to embracing opportunities in a fast-booming Russian economy. This led us to sign a strategic alliance with Coalco to develop Great Domodedovo and other projects. This is an important step enabling us to enter the largest and the fastest growing market in Europe."

Vassily Anisimov, President of Coalco's Coordinating Board commented, "Great Domodedovo is a significant project for Russia and an outstanding urban development in the Moscow region, which will boost its economic growth dramatically. When searching for a partner for this project we were especially concerned about getting the strongest expertise in city development and the highest level of reliability, since Coalco is well-known in the market for its responsible approach, thorough project elaboration and quality of project implementation. We wanted to partner with a company experienced in such large-scale projects. Limitless is that partner."

Work on phase 1 of the project, involving 3,000 hectares will commence immediately with construction activity expected to commence in the second half of 2007. This will involve an investment of USD 11 billion. Phase 1 development will include 150,000 residential units, over 600,000 sqm of retail space, 600,000 sqm of commercial space and 750 hectares of employment generating centres.

"There is a significant demand for real estate in Russia, be it commercial, residential or retail. In fact Moscow is amongst the most expensive cities in the world for all types of real estate," said Saeed Ahmed Saeed. "This new city will be developed following the latest trends in modern urban design, and it will be a balanced, well-structured city with its own self-sustainable dynamics. Great Domodedovo will offer a variety of housing choices, neighbourhood amenities including shopping centres, schools, sports facilities as well as office complexes providing more employment opportunities," he continued.

"This urban development is carefully elaborated and extremely balanced." added Vassily Anisimov. "The infrastructure has been meticulously planned to provide a variety of transport and accommodation options, while maintaining a pleasant and open environment with lakes, woods and open spaces," he said.
Great Domodedovo is a large-scale project that will incorporate a number of areas of low-rise and high-rise buildings. A considerable part of the project will address the framework of the Comfortable and Affordable Housing for Citizens of Russia initiative, developed and actively promoted by the Russian authorities.