Quinn Group Acquires Russian Complex

The Quinn Property Management Group has acquired a multi-million euro entertainment complex in Russia, it has been revealed.

The 120,000 square metre Avrora complex which has cost an estimated €106 million, will contain a shopping mall, cinema, bowling alley, swimming pool and climbing wall in Ufa, situated in the south west Urals, 730 miles east of Moscow.


A Quinn spokesman said: "This is a combined shopping and leisure centre project that has just started construction. It will take two years to build the project. The group is also in the process of developing a logistics park in the city and this project complements operations there. All the major Russian and international retailers who are active in Russia have expressed interest in Ufa and in this project in particular."

While the group have declined to disclose details of the costs, real estate analysts have said the shopping mall on its own is likely to cost €106 million.

Sean Quinn is the single largest investor in Russia, having spent around €100m on a chain of DIY hypermarkets and a €75 million logistics park.

(JM)