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Aktuelle Nachrichten
Blausten appointed to Mirland Board
Posted: 20.02.2007
Cyril Leonard's senior partner Douglas Blausten has been appointed a non-executive director of MirLand Development Corporation Plc, the Russian property development company that floated on AIM, a market operated by the London Stock Exchange plc, in December 2006.
Blausten's international expertise in the real estate market prompted an approach ahead of the flotation sponsored by Credit Suisse and Merrill Lynch. The £143 million AIM flotation in December valued MirLand at £478 million. MirLand is controlled by the Fishman Group, an international real estate investment and development group based in Israel with over 30 years' experience in the real estate development market.
The company is currently one of the few developers in Russia to build international quality commercial and residential properties employing Western business practices.
The company also differentiates itself by being one of only a few international developers currently active in Russia's secondary cities. MirLand offers investors an attractive portfolio of existing Russian development projects, a substantial pipeline of other real estate investment opportunities across Russia and a strong management team, comprising local professionals and international real estate experts.
MirLand's strategy is to focus on developing (a) high quality commercial and residential real estate assets in Moscow and St. Petersburg and (b) commercial projects in other large Russian cities. The company aims to maximise shareholder value, while maintaining geographical and property type diversification. The company's policy is to sell residential properties and lease or sell commercial properties.
Commenting on the appointment, Douglas Blausten said:
"I am delighted to be on the board of a company with a developing portfolio in a major market. MirLand operates solely in Russia, a market in which Cyril Leonard has been heavily involved. I hope my experience will be of benefit to MirLand in this area." |
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