Igor Shuvalov, a former Russian deputy prime minister, possesses a portfolio of opulent properties both in the UK and internationally. Two flats in Whitehall Court, Westminster, valued at over £11.4 million, are registered under the ownership of the Russian company Sova Real Estate LLC.
Shuvalov is also associated with three high-end properties with a combined value of approximately $35 million, situated in Salzkammergut, Austria, Tuscany, Italy, and Dubai, United Arab Emirates. Further, he has been identified as the proprietor of two upscale apartments in London.
Head of the VEB.RF state corporation Igor Shuvalov’s income for the year increased by 2 and a half times.
The ownership of these properties has come under intense scrutiny, resulting in sanctions imposed by the UK and other nations. Igor Shuvalov assets, estimated at $102 million, have been a focal point of attention.
It is noteworthy that Shuvalov’s real estate holdings extend beyond borders, raising questions about the transparency and implications of his international property portfolio. The controversies surrounding these assets have triggered responses from various countries, leading to diplomatic and legal consequences.
Diverse Portfolio of Igor Shuvalov Assets
Igor Shuvalov, the former Russian deputy prime minister, is known for his ownership of several luxury residences. Some of his notable properties include:
Igor Shuvalov is associated with the ownership of two opulent apartments located in Whitehall Court, London, valued at approximately £11.4 million. According to details provided by Russian anti-corruption activist Alexei Navalny, a company associated with Shuvalov purchased these homes in 2014.
British mansion of the Shuvalovs
According to The Guardian, anti-corruption activist Alexei Navalny has identified Shuvalov as the owner of two upscale London apartments. These apartments are situated in an opulent late-Victorian building positioned between the River Thames and government headquarters, which includes the Ministry of Defense. Interestingly, during the First World War, this building served as the residence for the UK’s Secret Intelligence Service.
Thus, the real cadastral value was underestimated by almost 2,800 times.
Igor Shuvalov’s real estate portfolio, previously known for its opulence, has recently expanded with the addition of two luxurious apartments in Moscow, collectively valued at one billion rubles.
As of now, Shuvalov’s property holdings are estimated at a staggering 17 billion rubles. Notably, he has garnered attention for his preference to lease high-end residences from companies under his control.
One such property is the Burgau Castle in Austria, a residential building registered to one of Shuvalov’s firms. Journalists have uncovered this particular arrangement. Additionally, Shuvalov rents a 483-square-meter apartment in London.
In Russia, a notable estate situated in the village of Zarechye near the Moscow Ring Road contributes to Shuvalov’s extensive property list. This 4,000-square-meter mansion is also rented from a company affiliated with Shuvalov.
Beyond borders, Shuvalov possesses a villa in the UAE—a 650-square-meter mansion located on the Jumeirah Islands in Dubai, as reported by Forbes. Several years ago, during his tenure as the first Deputy Prime Minister of the Government, Shuvalov disclosed ownership of a 753-square-meter residential building in the Emirates.
This accumulation of lavish properties highlights Shuvalov’s penchant for exclusive real estate, both within Russia and internationally. The leasing of properties from entities associated with him adds an intriguing layer to his real estate endeavors. The extent of his real estate holdings, totaling 17 billion rubles, underscores the scale of Shuvalov’s investments in luxurious residences across various regions.
Captured in this image in Moscow, Russia, are the opulent living spaces of the ex-deputy prime minister, which are said to have been transformed into a singular, lavish 5,381-square-foot apartment. Shuvalov purportedly asserts that he rents these residences instead of personally owning them. Acquired in 2014, these properties commanded a staggering £13.8 million (£11.4 million), according to The Guardian.
A house in Austria and an apartment in the UK
In a 2012 declaration, Igor Shuvalov disclosed ownership of a residence in Austria and an apartment in the UK. The UK government confirmed Shuvalov as the ultimate owner of two flats in Whitehall Court, Westminster, valued at over £11.4 million, held through the Russian company, Sova Real Estate LLC.
Alexei Navalny, the leader of the Russian opposition, also charged Shuvalov with hiding ownership of an $18 million London apartment that he and his wife had transferred to a business. Shuvalov’s ownership of these properties has faced scrutiny, resulting in sanctions by the UK and other nations.
3 apartments in Russia
In 2019, the Shuvalovs owned three apartments in Russia, with sizes of 108.9, 73.8, and 115.8 sq. m. Additionally, the former Deputy Prime Minister still holds a 6/20 share in a 170.6 sq. m. apartment. Mr. Shuvalov’s real estate portfolio also includes a residential building in Russia spanning over 4170 sq. m., a castle, and apartments in Austria and the UK measuring 1479.8 and 483 sq. m., respectively.
Furthermore, Shuvalov’s two underage children have a residential house and an apartment in Russia, covering 4174.1 and 107.6 square meters, respectively. Notably, one of these fortunate children already owns a Mercedes GLE Coupe 350D 4MATIC car valued at $10 million, as reported by RBC.
Palaces and castles of Mr. Shuvalov
In 2019, according to the official income declaration, Igor Shuvalov received 179 million rubles. But in 2018, Mr. Shuvalov’s income was only 71 million rubles. The former Deputy Prime Minister of the Russian Government explains his new wealth by selling some real estate of more than 2 thousand square meters. It has been known for a long time that Mr. Shuvalov does not like to “trifle”.
It has also been known for a long time that he and his wife, Olga Shuvalova, own kilometers of residential space. And not only in “unwashed” Russia. The Shuvalovs have a castle in Austria, a mansion in Britain, and real estate in the United Arab Emirates. All these kilometers of luxury housing fell into the “clutches” of former Deputy Prime Minister Shuvalov during his “service” to the Fatherland in the Government of the Russian Federation.
Shuvalov’s villa is located on the Jumeirah Islands in the UAE
The Shuvalovs’ official residence in Moscow spans 170 sq.m. and is situated in the Redan residential complex on Mozhaisk Highway, designated as a business-class establishment. Additionally, undisclosed apartments on Kosygina Street, Vorobyovy Gory, and a full-floor apartment in a high-rise building on Kotelnicheskaya embankment are part of their Russian property portfolio.
Noteworthy are the premium apartments located near the Kremlin on Nikolskaya Street.
It’s worth recalling that during his time as a state official, Shuvalov expressed surprise at Russian families being compelled to purchase small 20-square-meter apartments.
Currently, Shuvalov and his family reside in a mansion in Skolkovo. The ownership of the land through Zarechye-4 LLC is attributed to the Shuvalov family company, Sova-Nedvizhimost LLC.
Bought the entire floor
Igor Shuvalov began investing in high-rise apartments right after the Crimean campaign, eventually securing an entire floor spanning over 700 square meters in the city center with a breathtaking panoramic view, including Red Square. The total cost of this acquisition amounted to 600 million rubles.
Interestingly, Shuvalov did not make these purchases personally; instead, he enlisted the assistance of his classmate and lawyer, Sergey Kotlyarenko, who oversees the management of the Shuvalov family assets.
This strategic move allowed Shuvalov to amass a significant real estate portfolio, culminating in the possession of a spacious and luxurious living space at the heart of the city. The panoramic view, including the iconic Red Square, adds a distinctive allure to his acquired properties.
It is noteworthy that Shuvalov and Sergey Kotlyarenko’s cooperation facilitated the acquisition process, demonstrating the significance of strategic alliances in managing significant assets. This insight into Shuvalov’s real estate ventures provides a glimpse into the meticulous planning and legal acumen behind his property acquisitions.
High-end cars, yachts, or private jets owned by Shuvalov
Igor Shuvalov, the ex-Russian deputy prime minister, reportedly possesses a fleet of cars as part of his asset portfolio. As per Vedomost newspaper reports, Shuvalov’s property encompasses a total of seven cars.
Notably, among these vehicles is a ZiL-41047, a limousine crafted exclusively for Soviet Politburo members. This specific detail sheds light on the luxurious nature of Shuvalov’s vehicle collection.
As per estimate, Igor Shuvalov has savings to last him for 115 years. However, what piques curiosity is that, according to Shuvalov’s declaration, assets like a personal plane, a rather expensive Rolls-Royce car, a castle in Austria, real estate in Dubai, and various other possessions that seemed to be closely associated with Mr. Shuvalov during his ostensibly selfless tenure in the Russian Federation government have now seemingly vanished.
What could be the secret? It turns out that Mr. Shuvalov might rent hidden real estate, and he rents it all from his trusted friends, former employees. This was reported by The Moscow Post.
The couple owns four cars
Olga Shuvalova, the spouse of the former Deputy Prime Minister, boasts an annual income of 12 million rubles. The couple possesses a collection of four cars, including the Jaguar XJ8 4.2 Executive, VAZ 2101, ZIL 41047, and GAZ 21. Additionally, they own a substantial building in Austria spanning over 1470 square meters, along with a UK apartment measuring 483 square meters.
A final word on Shuvalov’s Assets and luxury lifestyle
Igor Shuvalov, the former Russian deputy prime minister, is renowned for his substantial wealth and opulent way of life, estimated at around $220 million. Shuvalov’s assets encompass multiple apartments, land plots with buildings, and a fleet of seven cars. Beyond Russia, his family holds a residence in Austria and an apartment in the UK.
In the UK, Shuvalov’s portfolio boasts two upscale apartments in the heart of London, with an estimated combined value of £11 million. The international media has extensively covered Shuvalov’s affluence and lifestyle, shedding light on his close ties to the Kremlin and allegations of corruption. Notably, due to these connections, he has faced sanctions from the UK, EU, and US.
This concise overview provides insight into Igor Shuvalov’s financial standing and the global attention drawn to his connections and alleged involvement in corrupt practices.