OREANDA-NEWS. June 4, 2012. ZAO Raiffeisenbank will be housed in a new 11-story building in Technopark Nagatino i-Land. The total area of the building will be 24,945 sq.m. The new office will be Raiffeisenbanks second main building. This decision was made in order to optimise costs and increase business efficiency by consolidating various divisions of the bank in one building. Another key factor was creating an open space office format.

The Menger Business Centre, where Raiffeisenbanks back office will be located, is part of the first phase of Nagatino i-Land (total area 216,000 sq.m).

"More than five years ago, we decided to consolidate our back offices in one building," says Gert Hebenstreit, a member of the Board, Head of the Operations and IT Directorate at ZAO Raiffeisenbank. "Since then, we have been looking for an appropriate site. In the end, we chose the Menger Business Centre, which is part of Technopark Nagatino i-Land. This building fully meets our quite high requirements for location and construction quality."

"We see Raiffeisenbanks decision to choose a building in the technopark as a strong endorsement of the project," notes Andrei Astakhov, CEO of the Nagatino i-Land projects developer. "Raiffeisenbank is the fourth large bank to open an office in the technopark. Today, Nagatino i-Land is being transformed into a financial oasis for the capital. I worked in the banking sector for several decades, and I am very impressed by how demanding financial institutions are when choosing real estate and by their thoughtfulness, deliberateness, preciseness and close attention to the details of the transaction. At this point, banks are our main tenants, and if Moscow plans to strengthen its position as a financial centre in the near future, then why not begin implementing these plans here in Nagatino i-Land?"

The financial details of the transaction were not disclosed.

Nagatino i-Land Technopark is a modern business centre occupying more than 700,000 sq.m.

The project is located in the western section of Nagatinskaya bottomland on Andropov Avenue (reconstruction of the territory formerly occupied by the ZIL factory). Nagatino i-Land is the capitals second-largest urban planning project. It consists of five phases. The technopark features office facilities, hotels, commercial space, concert halls, data centres, parking facilities, commercial facilities, restaurants and cafes, social infrastructure, etc. Plans call for the opening of a new above-ground station of the Moscow Metro called "Technopark" 100 metres from Nagatino i-Land on the metros Zamoskoretskaya Line.

The first phase of the technopark (216,000 sq.m, 8 buildings) has been completed and is home to the offices of Russian and overseas companies. The list of technopark tenants includes companies such as UniCredit Bank, LBBW (Landesbank Baden-Wrttemberg), Investtorgbank and others.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 10th among the Russian banks in terms of assets, based on Q1 2012 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of liabilities of individuals and 10th with regard to consumer lending.

Raiffeisen Bank International AG (RBI) regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. RBI is the only Austrian bank with a presence in both the worlds financial centres and in Asia, the groups further geographical area of focus. Around 59,000 employees service about 13.8 million customers through around 2,900 business outlets, the great majority of which are located in CEE. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, the remainder is in free float. RBIs shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the countrys largest banking group, and serves as the group head office of the entire RZB Group, including RBI.