6 February, 2023
O1 Properties: Year in Review

The O1 Properties investment company, the largest owner of class A office real estate in Moscow, has summed up its operating results for 2022.

The company has entered into lease transactions that cover 64,000 m2 of office space, of which new contracts accounted for 33,000 m2, and extended contracts – for 31,000 m2.

At the end of 2022, portfolio vacancy was 12%.

New tenants included 2MOOD, a Russian women’s clothing brand, Polyus gold mining company and others. Several companies, including RNPK, have expanded their offices within the current location or relocated their office to another property in the O1 Properties portfolio.

The largest amount of space has been commissioned in Ducat Place III and Stanislavsky’s Factory. Transactions have been concluded for a total area of 5,800 m2 at Ducat Place III, and for 4,500 m2 – at the Stanislavsky Factory. Among the tenants of the Stanislavsky Factory project are the 2MOOD and ESAB (CORE.XP, a leading consulting company in the Moscow and regional Russian real estate markets, acted as a transaction consultant).

O1 Properties continues to actively implement the environmental efficiency principles in managing its real estate portfolio. This is an integral part of the company’s sustainable development program. In March 2022, when international certification systems stopped working in Russia, O1 Properties initiated the unification of the development community to create an alternative Russian green certification system.

As part of this work, commercial real estate market participants have joined forces and combined their interests with VEB RF, the Public-Private Partnership Center and an expert group of appraisers joining them in this endeavor. In July 2022 we presented CLEVER, a new green building assessment system that incorporates the best international practices and takes into account the specifics of the Russian market.

O1 Properties was included in the first ESG index compiled jointly by RBC and the NKR rating agency. The index is a ranking of Russian companies according to the level of compliance with ESG standards. Forbes magazine has also assessed O1 Properties, including it once again in the rating of the best employers in Russia. The company improved its result compared to 2021 by moving from the “Silver” to the “Gold” category. The rating not only takes HR practices into account, but also places a significant emphasis on the analysis of ESG factors.