Luxury Real
estate agency
Presnenskaya Embankment, 6c2,
Empire Tower,
3rd entrance, office 4315
Moscow region,
Rublyovo-Uspenskoe highway, Usovo, 100, RC "Residence on Rublyovka", Block G
2026-06-29
1908

Sminex

By the end of 2025, Sminex had delivered a record 185,000 square meters in the luxury and premium segments—more than any other developer in Moscow. Today, one in every three luxury apartments in the capital is purchased from Sminex. The company’s portfolio of projects currently under construction or in the design phase totals 4.9 million square meters. These aren’t just numbers—they’re indicators of how the new reality in the premium real estate market is taking shape.

The History of Sminex: From Diversification to Concentration

Behind these figures lies a story that began in 2007. Its architect is Alexey Tulupov, a man whose career in real estate development began long before Sminex was founded. Together with Sergey Gordeev, who is now the majority shareholder of the PIK Group, he founded the company “Rosbuilding.” In the early 2000s, it was one of the largest players in the mergers and acquisitions market. “Rosbuilding” bought up companies and resold them, but in 2007 the partners shut down the company and began building their businesses separately. At the end of that same year, Tulupov founded Sminex.

Initially, the company had a broad scope of operations—investing in real estate development, retail, the food industry, and oil. In retail, Tulupov launched the “Leonardo” chain of hobby hypermarkets and sold it a few years later. He acquired the “Kolomensky” bakery and confectionery plant, which eventually became the largest player in Russia’s bread market. In 2022, his holding company, “Kolomensky,” acquired the Russian operations of the Finnish company Fazer—three factories in St. Petersburg. Thus, Tulupov found himself the owner of both the most expensive items—penthouses worth billions of rubles—and the cheapest and most common goods—bread for 50 rubles.

But the key decision that shaped Sminex as it is today was made during the 2008 crisis. At that time, according to Tulupov himself, significantly more investments were made in real estate, and they could yield results faster than retail. “I was convinced once again: concentration is always better than spreading oneself too thin.” In 2008, there was indeed a shortage of real estate, and all investments were directed toward office buildings. Sminex focused on building high-end residential space in Moscow. As Tulupov later admitted, it was a cold, economic calculation.

Key Transactions: How Sminex Expanded Its Operations

A key turning point occurred in December 2022. Sminex purchased the “Inteko” real estate development holding company from Trust Bank for 38 billion rubles. Inteko’s assets included nine residential complexes with a total area of 1.4 million square meters, which were in the design and construction phases. Sberbank provided the loan for the acquisition. The deal also included a development holding company in Rostov-on-Don, which Sminex later put up for sale for 3 billion rubles, shifting its focus to the Moscow market.

The next step came in 2024. Sminex closed a deal to acquire the “Ingrad” group of companies from the “Rossium” concern. The deal included 19 development projects in the construction and design phases in Moscow and the Moscow Region. “Ingrad” is a major player with its own portfolio: the company has built and sold more than 2 million square meters of residential real estate in the Moscow region. Ingrad’s revenue under IFRS for 2023 totaled 63 billion rubles.

The combination of technologies and practices from the three companies—Sminex, Inteko, and Ingrad—has given the developer not just scale, but a systematic approach to quality.

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The premium-class “Foriver Residence” development by Sminex on Simonovskaya Embankment.

Portfolio and Key Metrics Today: Figures and Geography

Today, Sminex’s portfolio is impressive. Since 2001, the company has completed over 100 projects with a total area of 12 million square meters. Currently, approximately 800,000 square meters are under construction, and the portfolio of prospective projects totals 3.5 million. In total, the developer has 4.9 million square meters in the construction and design phases. In central Moscow, Sminex is building and designing more than 490,000 square meters of luxury space. The developer’s current portfolio in central Moscow has exceeded 580,000 square meters of luxury space. More than half of this is located in Khamovniki.

In 2026, the company is holding construction tenders worth 32 billion rubles—nearly 10 percent more than in 2025. 23 billion will go toward construction and installation work, with another 9 billion allocated for facade and finishing materials, landscaping, and comfort systems.

A Philosophy of Quality Development: Impeccable Standards

Sminex builds homes using its signature Fine Development approach—standards that integrate design, construction, and property management to create functional and aesthetically pleasing homes with premium, five-star hotel-level service. “We are Fine Development perfectionists. This is our signature approach to creating perfect homes: inspiring, comfortable, beautiful, and offering the very best service. It is based on a holistic approach, commitment, and responsibility.”

What does this mean in practice? Everything that can be thought through down to the smallest detail is thought through. Starting in 2023, Sminex will create extra-wide parking spaces specifically designed for luxury vehicles. In 2025, the company developed the market’s first comprehensive, proven soundproofing system, which provides the best sound insulation solutions for all elements of a house and apartment: partitions, floors, doors, windows, and comfort systems. 

In Sminex buildings, even the technical areas—such as stairwells and parking garages—are beautifully designed. Each project includes everything needed for a comfortable life outside the apartment:

— gyms, saunas, swimming pools, and workout areas;

— parking lots and driver’s lounges;

— storage rooms and storage systems;

— children’s rooms and play areas;

— club lounges and community centers.

At the same time, the company does not allow architects to get carried away with form at the expense of ergonomics. First, the layout of the apartment is designed, and then the building’s architecture.

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A day in the “Life Time” luxury neighborhood, developed by Sminex, begins with a swim in the pool.

Sminex Projects: In the Heart of Moscow

Frunzenskaya Embankment

The company’s flagship project, for which Sberbank issued a record loan of 55 billion rubles. This is the first real estate development project in the area in the last 12 years. The club-style neighborhood comprises 11 buildings with facades in three architectural styles. The complex features the most spacious private park on the luxury real estate market—covering 3.1 hectares—and private amenities exclusively for residents. Architectural features include rare curved terraces with decorative tempered glass railings, and windows ranging from 2.4 to 6.8 meters in height with frames made of solid Canadian and Caucasian oak. 

Khamovniki—Sminex’s stronghold

In April 2026, the company purchased its sixth site in this district—a 0.5-hectare plot on Timur Frunze Street. The transaction included four buildings with a total area of 5,000 square meters—part of the silk-weaving factory complex owned by the Moscow merchant K. Giro. The project’s above-ground area will total 13,000 square meters, of which 8,200 will be residential. The historic facades facing Timur Frunze Street will be preserved. The new site is located just 200 meters from Sminex’s previous acquisition in Khamovniki—on Lev Tolstoy Street.

Restoration on Pyatnitskaya Street: Sytin’s Printing House

A new project on Pyatnitskaya Street involves the restoration of the legendary Sytin’s Printing House. The developer purchased a 1.8-hectare plot in Zamoskvorechye, which houses eight buildings totaling 38,500 square meters, including three buildings of I. Sytin’s Printing, I. Sytin’s Publishing and Book Trade Company—a cultural heritage site. The printing house was built in the late 19th and early 20th centuries. The main building was designed by master of industrial architecture Adolf Erichson in collaboration with engineer Vladimir Shukhov. The second production building was designed by architects Flegont Voskresensky and Fyodor Rybinsky. At the beginning of the last century, Yesenin worked within the walls of the printing house, and works by Gorky and other great writers were printed there. Sminex will restore the historic buildings and construct new residential buildings nearby with a private courtyard and park.

Commercial real estate

Sminex’s portfolio also includes business centers. Twist is a business center nearing completion. Life Time on Presnya is a luxury neighborhood that the company plans to launch in 2026. Sminex is also designing a high-end neighborhood on Savvinskaya Embankment and a premium neighborhood on Luzhnetskaya.

sidebar-presentation
"Frunzensky" Residential Complex
Everything important about the project in one PDF

The finest materials and textures

Sminex sources its materials from all over the world. In 2026, the following will be delivered to construction sites:

— natural stone: limestone from Montenegro and Bulgaria, granite from India, and Genaldon dolomite from the Caucasus;

— from Germany — radiused bricks, hand-painted with turquoise glaze;

— designer furniture for the lobby and common areas — from Italy, the Netherlands, and France;

— air conditioners and ventilation systems — from Belgium and Italy.

Sminex enlists rare artisans to create its homes. The company has established its own architectural firm—the first among major luxury developers to do so. This allows it to maintain control over every stage of the design process and refine every detail to perfection: architecture, interiors, floor plans, and courtyard gardens. For each home, the developer prepares up to five detailed concepts. And most importantly—Sminex builds exactly what it promised, without cutting corners or changing plans along the way.

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Take a stroll through the picturesque courtyard park at the “Frunzensky” luxury residential complex from Sminex.

Uncompromising comfort for residents

Sminex has created its own Comfort Service—a team that has become an integral part of Fine Development’s approach and is responsible for ensuring that the project remains flawless a year from now and five years from now.

Everything residents use every day must be in good working order, clean, and maintained on time—from the entrance area to the utility rooms, from landscaping to club spaces. There’s no room for improvisation here. Regulations, preventive maintenance, monitoring, and scheduled work—all the things that often go unnoticed but are very much felt when they’re missing. The team’s main task is not to heroically clean up the aftermath, but to prevent problems from arising in the first place.

The Sminex Comfort Service never takes a day off, especially when it comes to the safety and comfort of residents. The quality of service is consistent across all of the company’s residential buildings and business centers. This ensures a uniform level of comfort across all Sminex projects.

Key Figures

Figures demonstrating scale and recognition:

— In 2025, Sminex topped Forbes’ “Russian Developer Confidence Ranking” for the second time;

— The company’s revenue totaled 43 billion rubles in 2022 and 57.5 billion rubles in 2024;

— The company ranked in the top 5 of Russia’s top 100 real estate development companies;

— In 2024, the company won the “Developer of the Year” award.

We at Whitewill have been working with Sminex since their very first projects and know everything about each one. Our database includes all current listings: from studio apartments to penthouses with terraces and fireplaces. We’ll find an option that fits your needs, show you the best properties, and provide legal support for the transaction.

Submit a request on our website—and we’ll send you a selection of the best offers from Sminex, complete with current prices and floor plans.

Would you like to live in the Sminex development?

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