Development in Europe

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Before the end of this year, Emin Iskenderov’s Hermitage Group, the French developer with Russian roots, plans to begin construction on the Hermitage Plaza project in Paris, the newspaper RBC Daily reports. This mixed-use twin-tower complex, which was first announced six years ago, will become the tallest skyscraper in Europe.

According to RBC Daily, Emin Iskenderov, a former partner of Mirax Group’s CEO Sergei Polonsky, is prepared to invest in the skyscraper in the French capital €853 million out of the estimated €3 billion required to complete the project. In late 2013 the first stone will be laid and the completion of construction is expected in late-2018 or early 2019.

RD Group and market trends

Today Russian developers are actively diversifying their property portfolios and are not limiting themselves to the Russian real estate market. Although Russia continues to be a key region for RD Group, the holding understands the importance of developing projects abroad. It was with this aim in mind that the company RD Group S.A. was founded in 1996 with its headquarters in Luxembourg. This company is engaged in development projects in Europe.

The portfolio of RD Group S.A. includes elite residential development projects in Luxembourg. In 2009 construction was completed on a residential building in the prestigious Strassen commune – the 2400-square-meter Rose Valley complex. A new investment project of the company is called Stassen and it entails the construction of two 4-story residential buildings totaling 9000 square meters on Rue d’Arlon in the same commune.

More information about the Strassen project can be found on our website by clicking this link.