ESTA Holding Responds to Correspondent Magazine Request

29.07.2013

- In what amount the investments to TsUM reconstruction are estimated?

- The budget of TsUM reconstruction amounts about USD 100 million.

- As far as I understand the reconstruction is very considerable. Will it be 100% of TsUM renovation? Or how would you estimate roughly to what extent will the building change?

- TsUM reconstruction won’t be performed by 100%, whereas historical main facades are preserved. As a result of the reconstruction, we are going to double the total area of TsUM up to 37,740 m2 and to build an underground parking for 180 cars using the territory of the courtyard and the underground space. All TsUM structures except facades will be dismantled. The main façades of the building dated to the year 1939 will be preserved unchanged and reinforced. At that it is important to notice that the feature elements of old interior (balusters, marble) we store in warehouse to use in new interior.

- What is the concept of the building interior? Is there a global idea, which prepossesses the whole design?

- Our global idea is to create a qualitative retail facility, where the purchasing process will be as convenient, pleasant and even interesting to visitors as possible. We take the best European supermarkets as a model.

- Which segment of buyers will the shopping center is calculated for?

- TsUM will be calculated for middle class.

- Why ESTA is interested in retail real estate segment?

- TsUM is not only the facility of “retail real estate”. For 70 years it was the main supermarket of the country and is the part of its history. To return the former glory to it and make it its own asset is a dream of each developer.

- When the opening is planned?

- TsUM opening is planned for autumn 2015.