Already boasting well over 45,000 listings in 24 cities, Komesto claims to be the leading commercial real estate site in Russia, and the first to be launched nationally.
“Idinaidi has given us a clear advantage in launching Komesto, both in terms of building Komesto's listing base and in driving traffic” said Carlo Walther COO of Komesto.ru.
Russia has a strong and fast-growing commercial real estate market. Office leasing in Moscow in 2013 was 1.6 million m2, compared with 1.2 million m2 in London, or 600,000 m2 in Munich. Total commercial real estate investment in Russia in 2013 was $7.45 billion. Economic growth has driven the commercial real estate market across Russia, and is forecast at 2.9% in 2014.
“We aim to get over 100,000 commercial listings this year, and to provide the largest and most useful database of commercial listings for users across Russia” said Stephen Inscoe, Founder and CEO of Komesto.ru. “Only 5% of real estate marketing spending is currently online, but this is growing quickly and will radically change how commercial property is marketed in Russia.”
Komesto and Idinaidi are financed by Sorren Media and Camco Private Equity Group.