The Forum Group made its first foray into the design and build market at the turn of the century when it acquired the road-building enterprise, Agropromdorstroy. After overhauling its management team and modernising processes, the Forum Group was responsible for making Agropromdorstroy a leader in Russia’s road-building works. By 2007, Agropromdorstroy managed up to 20% of the Sverdolovsk region’s road-building market.
In 2002, Agropromdorstroy shifted its long-term focus from roads to housing construction; this was in response to changes in the Russian market that led to a high demand for mass housing. Agropromdorstroy founded the construction company NOVA-Stroy, which later became part of the NOVA-Group holding company. By 2006, NOVA-Stroy had become one of the top three developers in Ekaterinburg’s real estate market, with the development of more than 350,000 square metres of property to its name.
Agropromdorstroy established NOVA-Group Development to manage commercial property development in Ekaterinburg’s trade and business areas. In 2004, NOVA-Group Development completed the first phase of the Tikhvin Clubhouse, a luxury residential complex with premium fashion brands, luxury fitness and spa chains, and high-end restaurants.
Agropromdorstroy established the NOVA-Group holding company to offer end-to end construction services to the real estate sector. The holding company is equipped with the resources and capabilities to offer turnkey design and build solutions; it invested in facilities such as a reinforced concrete structure Betfor plant to help reduce construction costs. Oleg Cherepanov was Chairman of the Board of Directors at NOVA-Group until 2007.
Sergey Vorobev joined the senior management team at NOVA-Group, which was by now recognised as a leading full service construction provider in Yekaterinbug’s real estate sector.
NOVA-Group had expanded further to include subordinate companies that specialised in turnkey solutions for the public housing and road construction projects. Projects completed during this year included modern business centres for MRSK Ural and the Ural Bank for Reconstruction and Development, each equipped with the latest technology.
LSR Group (Saint Petersburg) acquired the NOVA-Group in Russia’s largest construction deal outside of the Moscow region. Forum Group was established after the reorganization of Nova-Group Holding company to oversee the full cycle of real estate development.
In its first full year of operation, the Forum Group was focused on delivering full-service construction projects, from concept through to delivery. Its first commissions included the Wiener House Business Centre.
The Forum Group continued to focus on the retail and business sectors with its development of the Radischeva Gallery, an outdoor shopping arcade. This high street-style shopping centre was designed with a wide pedestrian zone, modern street lighting and designer shopfronts; it attracted luxury retail brands and restaurants.
The Forum Group developed Yekaterinburg’s first shopping mall, Raduga Park. This multi-purpose retail and leisure development features premium retailers, a rooftop family amusement park, a Karo Films cinema, and an outdoor park with a pond. Raduga Park was named the winner of the RCSC Best New Mall award.
The Forum Group is named the master developer for the region’s most ambitious residential project, Solnechnyi. Occupying 362 hectares in the southern part of Yekaterinburg, this housing district for an estimated 85,000 residents is due to be completed in 2025.
The Forum Group continues to focus on residential developments with projects including the Mechta complex of luxury apartments, phases four and five of the Tikhvin Clubhouse, and the Pribrezhniy affordable housing district. Other projects in the pipeline at this time include Olkhovskiy Park complex of five residential buildings, and the mixed-use Forum IFC development in in central Yekaterinburg.
Residential real estate development becomes a key activity of the company. Such residential complexes as Mechta (Dream), Olhovsky Park and Pribrezny, are under active construction. First residential settlement in Solnechny is set in operation, fourth and fifth phase of Tihvin club house are set in operation. Such projects as MFC Forum, Iset Park residential complex, and new residential areas and facilities of social infrastructure in Solnechny are under preparation for implementation.