Samvel Karapetyan, owner of the Tashir group, ranks 2nd in Forbes’ "Russian Real Estate Kings" list. The company owns 1.1 million sqm of commercial space, 98,000 sqm of office space, 48,000 sqm of warehouses, and 892 hotel rooms, Forbes reports.

Shopping malls under Tashir’s management attract approximately 200 million visitors annually. The group operates 16 "Rio" malls in 15 Russian cities and Yerevan.

Beyond real estate, Tashir is involved in residential construction and energy projects. In 2024, the company’s total revenue grew by 16%, reaching 260 billion rubles.

While the top-ranking companies continue to show steady growth, significant changes are evident in the middle and lower segments of the ranking. Companies and funds affiliated with state banks are expanding rapidly, with their revenues increasing by 100% annually.

This year, four long-standing participants were excluded from the list. Among them was the Khotin brothers' "Комплексные инвестиции," known for its aggressive business tactics, and Ingka Centres, founded by Ingvar Kamprad to establish the first "Mega" malls in Russia. Also absent are Sergey Gordeev's Mall Management Group, which initially built high-quality malls before selling them, and the Morgan Stanley real estate fund, previously engaged in billion-dollar transactions.