DUSHANBE, August 25, 2010, Asia-Plus — Investment company, Somon Capital, has announced successful implementation of real estate market research methodology for the purposes of investment and construction decision making.
According to press release issued by Somon Capital, the company’s work on introducing the methodology began in June 2009 and was completed in mid August 2010. The work included setting up the research methodology in Dushanbe real estate market and establishment of Somon Capital Real Estate unit managed by Ms Bustona Rashidova, Tajikistan’s first and only real estate analyst certified in March 2010 by Russian Guild of Realtors (RGR), Moscow, Russian Federation.
The methodology is developed with assistance of Gennady Sternik, senior analyst of RGR, Professor of Economics and Management of Urban Construction Department of the Plekhanov Russian Academy of Economics, and consists of collection of documented information about objects of the market and maintenance of analytical database, differentiation of objects by various properties (classes, location, size and etc.), identification of statistical properties of the samples, analysis of derived numerical extensive and parametric models with discrete steps, and description of the findings.
The purpose of introducing this methodology is to fill the information gap and to be able to provide relevant information to financial institutions, construction companies, investment companies, realtors and developers for them to use in their daily professional decision making. Somon Capital partnered with the International Financial Corporation (IFC) in introducing the research methodology.
“In Tajikistan there is lack of business information for decision making purposes, especially when making investment decisions and risk analysis where access to accurate unbiased information including trends is very important. Given the importance of development the real estate market and the important of construction sector in economic growth, we decided to introduce the methodology to begin analyzing the real estate market in Dushanbe and provide our research to customers. We hope that this research will be useful” – said Jamshed Rahmonberdiev, CEO Somon Capital investment bank.
“Our experience and research demonstrated that real estate market in Dushanbe is in its early stages of development, including the market infrastructure, information, financing mechanisms and etc. Nevertheless, despite this fact we managed to introduce market research methodology, and we were able to collect and analyze information for the entire 12 months” – said Bustona Rashidova, head of real estate unit Somon Capital.
The methodology developed with participation of G. M. Sternik is widely used among RGR certified real estate analysts in 25 regions of Russia, as well as Ukraine, Latvia, Azerbaijan, Tashkent, Bishkek and now in Dushanbe; the methodology is also used in other economies in transition. It is endorsed by state and international institutions, including as standard methodology for Central and Eastern European countries – members of CEREAN (Central Europe Real Estate Associations Network).
Joint stock-company (JSC) Somon Capital is the first domestic investment bank working in Tajikistan – providing a unique combination of local knowledge and experience with international expertise in Tajikistan. It offers local and international clients wide range of professional investment and advisory services in the fields of investment banking, capital market operations.
