Clean Break: the company completely halting Russian engagements or exiting Russia

Leave Withdrawal

China Vanke Co., Ltd. is one of the largest residential real estate operators in China. Vanke (or Vanke Group) is a large residential real estate developer in China. It is engaged in developing, managing and selling properties across more than 60 mainland Chinese cities in the Pearl River Delta, Yangtze River Delta and Bohai-Rim Region, with the provision of investment, trading, consultancy services and e-business.

Clean Break: the company completely halting Russian engagements or exiting Russia

Leave Withdrawal
Glob.Revenue, mln.USD
The Company Statement
April 01, 2024

Business as usual. The Chinese Vanke Group, which received the rights to the restoration of the Imperial Educational House and the complex of the former buildings of the Academy of Missile Forces near the Kremlin, began to look for co-investors due to the increase in the project budget. The Chinese Vanke Group has decided to finally get rid of its only project in Russia - the restoration of the former Imperial Orphanage near Zaryadye Park in the center of Moscow. The group agreed to sell the asset, estimated at 30 billion rubles, to the Kyiv Ploshchad Group of Companies, founded by God Nisanov and Zarakh Iliev. Market participants explain the Chinese group's withdrawal from the project by the decline in its attractiveness over two years of geopolitical crisis. In addition, Vanke had difficulties in its home market.

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