OREANDA-NEWS. May 14, 2010. Sistema-Hals (HALS), a leading diversified company in the Russian and CIS real estate market, and Apsys, one of the major European companies engaged in development and management of retail real estate assets, announce the arrival of Russian multiplex Kronverk Cinema, leader in Saint Petersburg, in LETO shopping center.

The multiplex in LETO will become the biggest Kronverk cinema in Saint Petersburg and will consist of 10 halls including a VIP-hall. The leasing area will be 4 700 sq. m. The cinema will hold over 2000 people. The multiplex will be modernly equipped, the lobby decoration will have a unique design.

"Kronverk Cinema is a high level of multiplex in Saint Petersburg. Therefore,the Opening of the largest Kronverk multiplex in LETO shopping center is a significant event that shows tenants' confident of LETO project success", - Teimuraz Shengelia, Vice-President - Head of Commercial Real Estate of Sistema-Hals commented.

"We're very happy to see that the Leader of cinema operators in Saint-Petersburg has chosen LETO shopping and entertainment center to develop his flagship multiplex. This event combined with the trust already placed by the main international brands in our project will make of LETO the first destination of shopping and leisure in Saint-Petersburg", - Fabrice Bansay, Apsys Russia General Manager said.

"I am pleased that LETO's strongest pool of anchor tenants has been strengthened by another successful operator, representing entertainment industry. Since the project's recreational area is quite significant, Kronverk, being a recognized leader of recreational market of St.Pete, will greatly beneficiate the project and become one of the project's main attractive feature", - commented Ekaterina Zemskaya, Associate Director of Retail Department, Russia & CIS Jones Lang LaSalle.

The lease agreements in LETO shopping center have already been signed by such anchors as Auchan hypermarket on 11,600 sq. m., Media Markt for electronics goods on 6,000 sq. m., H&M on 1,700 sq. m., Inditex (Zara, Pull&Bear, Bershka, Stradivarius) on 3,115 sq. m. Well-known international and Russian brands such as TopShop, TopMan, Miss Selfridge, Lady&Gentleman, New Yorker, Ann Christine, O'stin, Reserved, Cropptown, House, Mothercare, NEXT, Tatuum, Coyoco, L'Etoile, Colin's, River Island, Smyk, Nokia, Etam, Springfield, Women's secret will be present in LETO.

LETO with approximately 114,000 sq. m. GBA (about 80,000 sq. m. GLA) is ideally located at the intersection of Pulkovskoye shosse and the Ring Road. The center includes a 3,200-lot parking.

The Grand Opening of LETO is scheduled for Autumn 2010.

Sistema-Hals and Apsys are developing LETO shopping center together. Exclusive marketing and leasing agent for LETO is Apsys Rus, in partnership with Jones Lang LaSalle.