PJSC ALROSA’s Supervisory Board recently resolved to acquire a new “multifunctional office complex”. Citing “expediency” as the main reason for the purchase, the Company revealed that the building is located on Sevastopolsky Avenue in Moscow, and will house the offices of its affiliate, the United Selling Organization ALROSA.

The 22-story building has a total floor space of over 29,000 square meters. Part of the premises will be leased out to the Unified Complex of Customs Clearance and State Control of Export and Import Operations with Precious Stones and Metals, ALROSA said.

The plot of land admeasuring about 0.75 ha, on which the office building is located, will be taken on lease by ALROSA. “By the decision of the Supervisory Board, the aggregate cost of purchase and lease should not exceed US$ 52.7 million (net of VAT),” the Company stated. “There are also plans regarding the lease of three adjacent land plots with the total area of almost 0.8 ha.”

Head of ALROSA’s Administrative Department, Sergey Slobodin, explained: “We started the search for office premises for the USO ALROSA back in 2015. However, the affiliate is still leasing the premises in the building on 1812 year street―mainly from the Gokhran of Russia. This year, the lease agreement expires, and it has been a long time since we had planned a major overhaul of the building. What is more, the available premises are not enough and it limits the development of our affiliate. The Company is considering several variants of office premises for the USO, but the priority one is the complex on Sevastopolsky Avenue. The resolution passed by the Supervisory Board will allow us to move the negotiations on the acquisition of the building into the closing stage.”

Evgeny Agureev, Director of the USO ALROSA and member of ALROSA’s Executive Committee, said that moving to the new building will significantly improve the quality of work with the Company’s clients, create modern and comfortable working conditions for employees and specialists, and effectively build logistics and organize internal business processes.

“It will be a long-awaited event for both the USO ALROSA and the Company,” noted Agureev.