Ingrad Group of Companies sold 2.5 thousand hectares in the suburbs

As part of the optimization of the portfolio, developers continue to sell part of their lands. So, the Ingrad group last year sold 2.5 thousand hectares in different areas of the Moscow Region with an assessment value of up to 1.9 billion rubles. But the company received a loss from the sale. In order not to continue to control the assets non -core for themselves, the new owner of the group – Sminex Alexei Tulupov – plans to sell all the lands in the suburbs.

In 2024, the Ingrah Group sold 2.5 thousand hectares in the suburbs in the Moscow Region, the total loss of operations amounted to 1.4 billion rubles, found Kommersant in the company’s report on IFRS for the last year, published on April 30, 2025. In particular, the developer realized 1.86 thousand hectares in the Dmitrovsky district, 500 hectares in the Klinsky district and 172 hectares in the Naro-Fominsky district. Thus, the land bank of the developer in the region decreased from 15.6 thousand to 13.1 thousand hectares. Buyers of assets are not specified. Sminex vice-president of financial and legal issues (owns Ingrad) Elena Kulbikova informed Kommersant that these transactions were carried out before the acquisition of the company by developer.

The partner of the Meta group Maxim Leshchev believes that the lands of the Ingrad could be interested in developers of warehouse real estate or developers of cottage villages. According to the director of the Department of Land Projects NF Group Maxim Chernyadiev, the total cost of 2.5 thousand hectares sold by Ingrand in the suburbs can reach 1–1.9 billion rubles.

In the sale of Ingrad assets, it received a loss of 1.4 billion rubles. It can be associated with additional expenses, including taxes, fees, commission of intermediaries, suggests the managing director of Metrium Ruslan Syrtsov. In addition, he continues, the value of land could decrease during ownership, and if the sites were purchased on credit, then the company was not even able to completely pay off the debt. “But in principle, the actual losses after the sale of assets are not a rare phenomenon,” Mr. Syrtsov stipulates.

Elena Kulbikova also noted that the company takes on an active sale the remaining 12.4 hectares remaining in Ingrada. Ruslan Syrtsov does not exclude that some of them can be sold with a discount on the market price in order to save on further land maintenance.

Timur Vyvkin, Director of the Earth’s Development Department, believes that Sminex gets rid of non -core assets for himself. For Sminex, this land bank in the Moscow region was initially in the burden to the main, fairly vast portfolio of Ingrada, confirms the head of the land assets and development of the IBC Real Estate Dmitry Silkovsky. These sites were actively exhibited by Ingrand before the change of owners, and Sminex only updated the assessment and continued the previously begun process, he adds.

The developer has already found a buyer for a number of Ingrada projects in the suburbs – the residential complexes of Nablegograd in the Odintsovo district and the New Pushkino in the White Grad near Mytishchi, the newspaper Vedomosti wrote. The buyer of assets will become the Vector Group of Companies. Similarly, Sminex came with non -core assets of the absorbed developer « Inteko ». After the transaction, the territory of the Krion plant in the south of Moscow was removed from his portfolio (see Kommersant on May 6, 2024), the Korovino industrial zone development project in the north of the city, production assets and sites in the Rostov Region and others.

Daria Andrianova