Eastern European Markets

January, the 7th, 2011

Technopolis Getting New Deal for Pulkovo

Technopolis has signed a letter of intent (LOI) with Schneider Electric that will make it the third anchor tenant for the company’s Pulkovo technology center in St. Petersburg. The contractual procedure will proceed in phases from the LOI to a preliminary agreement and finally a lease.

The final 5-year lease is expected to be signed in the first quarter of 2011. This agreement includes an exit clause that allows the client to terminate by paying penalties. The agreement with Schneider will cover about 1,000 square meters as well as variety of services. When the final lease is signed, the pre-let rate for Technopolis Pulkovo will increase to approximately 65 %. Elering.

Further Information
Keith Silverang, CEO, tel. 040 566 7785

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