Record Russian real estate deal in Cannes
Published: 14 March, 2008, 11:54
The Cannes property forum has seen a record deal for Russia. Otkritiye Real Estate will sell a business complex in central Moscow, to Germany's investment fund KanAm Grund for $US 900 million.
The sale is the biggest forward deal in the history of the Russian property market.
The complex will comprise a business centre and 170 hotel rooms.
It is likely to be the last big office project in downtown Moscow, because of a government ban on building new office property in the city center.
The previous biggest real estate sale was by Mirax Group, which sold Mirax Plaza to GazpromStroy for $US 650 million last year.
14.03.2008, 11:53
Massive production house created in RussianServices giant Sistema has formed a joint venture with Russian World Studios to create the country's largest television and film production company. |
14.03.2008, 19:15
Interview with Aleksandr KotchoubeyAlex Kotchoubey from Renaissance Capital Investment Management in Moscow joined RT to talk more about events on the markets. |
