Overview of Zarakh Iliev
Zarakh Iliev, a Russian entrepreneur and philanthropist, stands out as a prominent figure in the realm of commercial real estate ownership in Russia. Born in Azerbaijan in 1966, Iliev acquired the art of shoemaking from his father. Zarakh Iliev Assets estimated net worth, standing at approximately $3.2 billion, reflects the success of their ventures.
In the early 1990s, he relocated to Moscow, where he, alongside his friend God Nisanov, ventured into entrepreneurship. Together, they founded Kievskaya Ploshchad, a dynamic company with diverse holdings that span Russia and beyond. Kievskaya Ploshchad’s portfolio encompasses shopping centers, hotels, and residential properties, earning the recognition of Forbes as one of the top 100 private companies in Russia.
According to Forbes, Kievskaya Ploshchad holds a distinguished position as one of the top 100 private companies in Russia.
Beyond his business endeavors, Iliev is actively involved in philanthropy, dedicated to preserving traditional practices. His contributions have garnered accolades, including the prestigious Fiddler on the Roof Award from the Federation of Jewish Communities of Russia. Iliev’s commitment to both business and philanthropy has left an indelible mark, earning him recognition and acclaim.
Diverse Portfolio of Zarakh Iliev Assets
Zarakh Iliev’s journey is a testament to his ability to navigate the complex world of business. Originally from Azerbaijan, Iliev co-owns the Kievskaya Ploshchad Group of Companies, a significant player in the industry. Established in 1992, the company, under his leadership, has become a major force, employing over 25,000 individuals. Iliev’s influence extends beyond borders, as his impact in the Russian business realm mirrors his Azerbaijani roots.
Teaming up with his long-time partner, God Nisanov, Iliev has played a pivotal role in shaping Moscow’s urban landscape. Their diverse portfolio includes the construction of trade centers, hotels, and residential properties, totaling approximately 14 million square feet of real estate in Moscow. Notable among their developments is the 225-acre wholesale distribution center, Food City, situated in Moscow, along with several shopping centers on the city’s outskirts.
Challenges Amidst Success
Despite his considerable success, Iliev faced challenges in September 2022 when the United Kingdom imposed sanctions on him in response to Russia’s invasion of Ukraine. This development marked a challenging chapter for Iliev, reflecting the broader impact of geopolitical events on individuals with significant ties to affected regions. The incident serves as a reminder of the complex interplay between business and geopolitical dynamics.
Key Milestones: Contributions to Moscow’s Landscape
Iliev’s group of companies has achieved remarkable success through a series of notable projects, showcasing their diverse expertise and contributions to Moscow’s landscape. Some key milestones include:
- Elektronnyy Ray Shopping Center (1998): The inauguration of this center established it as Moscow’s premier destination for retail electronics, attaining widespread popularity among consumers.
- Acquisition of TK Grand (2004): The company expanded its portfolio with the acquisition of TK Grand, a prominent shopping complex specializing in international and domestic furniture. Notably, it stands as the largest of its kind in Europe, hosting exhibitions, master classes, and lectures by specialists from around the globe.
- Moskva Shopping Center (2004): The acquisition of the Moskva shopping center solidified Kievskaya Ploshchad’s presence as Europe’s largest hub for new and used car sales. The center features a permanent exhibition of retro cars, adding a unique touch to its offerings.
- Hotel Ukraina Reconstruction (2005-2010): Acquiring Hotel Ukraina in a Moscow government auction, the company invested five years in a comprehensive reconstruction. Today, the modern hotel operates under the Radisson Collection brand, boasting the largest collection of works by Soviet artists.
- Evropeisky Shopping Center (2006): The opening of this center marked a significant milestone as the city’s first complex with parking inside the building. Notably, a musical fountain with water jets reaching 22 meters in height was introduced for the 2018 FIFA World Cup.
- Radisson Royal Fleet (2009): The company’s fleet of 20 ships, including ten icebreaker yachts for year-round tourist cruises, offers an unparalleled experience for exploring the Moskva River. Iliev played a personal role in designing the fleet, which included colorful “river buses” with convertible telescopic roofs.
- Food City (2014): A groundbreaking initiative, Food City, represents the first agricultural cluster in Russia. This wholesale distribution center offers a diverse range of fresh produce, meat, and dairy products, complemented by amenities such as a food court, culinary school, and a vibrant farmers’ market.
These achievements collectively illustrate Zarakh Iliev’s commitment to innovation, cultural preservation, and urban development, positioning his group of companies as a driving force in Moscow’s business landscape.
The Illustrious Moscow Royal Radisson Hotel
An embodiment of Iliev’s commitment to excellence is the luxurious 5-star Moscow Royal Radisson hotel. Serving as FIFA’s headquarters during the 2018 World Cup, it stands as a testament to his impact on Moscow’s real estate and hospitality sectors.
Forbes Estimate and Public Image
As of November 27, 2023, Forbes estimates Iliev’s net worth at $3.2 billion. While his financial success is apparent, specific details about his assets and luxury items remain elusive. Known for their opulent lifestyle, Iliev and Nisanov frequently attend high-end events, contributing to their public image. However, detailed information on specific assets owned by Zarakh Iliev is currently not available. The Forbes estimate provides a glimpse into his financial standing, but finer details of his holdings remain private.