Metro AG Russia to maximise assets with real estate ventures | Progresiv
The German retailer Metro plans to get additional profit from its sites in Russia, Vedomosti publication writes. In this regard, the company will build housing, offices and hotels near Metro Cash & Carry shopping centers. 
Metro Cash & Carry has announced a closed tender to develop a concept to increase asset liquidity, which has been falling in recent years. In particular, the retailer plans to revise the concepts of 16 sites belonging to him, in St. Petersburg and on the Leningrad highway in Moscow.
It is assumed that the company will be engaged in the construction of the territory adjacent to the shopping center with new real estate objects. In particular, this may be the construction of housing, commercial and recreational real estate at chain stores, as has already been done in China and other countries, including Germany. According to other sources, Metro Cash & Carry is interested in expanding construction around hypermarkets mainly in regional markets.
The representative of the Russian division of Metro refutes information about the tender, as well as plans for the re-conception of shopping centers. He points out that offices and housing are a non-core business for the company.
At the beginning of 2020, Metro Cash & Carry was the sixth largest player in terms of turnover in the retail market in Russia.
It is not yet known whether Metro will independently build housing, offices and hotels on the plots, or will hand it over for projects of other developers. (www.retail.ru)
