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“People want to get out to the fresh air and the countryside surroundings. It’s about finding the healthiest, yet most comfortable living for those who can afford it — particularly for their children,” said Marina Markarova, managing partner at Mayfair Properties, a luxury realty specialist based in Moscow. more detail
State Revises Apartment Cost Figures
The State Statistics Service has revised its estimate for the price to construct a square meter of residential space in Moscow to 66,063 rubles ($2,170), but developers said it was too low. more detail
State Revises Apartment Cost Figures
The State Statistics Service has revised its estimate for the price to construct a square meter of residential space in Moscow to 66,063 rubles ($2,170), but developers said it was too low. more detail
Real Estate Market Begins to Bottom Out
ST. PETERSBURG — The decline in real estate prices in the country’s two largest cities has eased, suggesting that the sector may be nearing the bottom. more detail
Bolshoi Repairs Investigated
Investigators opened a criminal case Monday into suspicious triple payments for restoration works on Moscow’s Bolshoi Theater that point to possible embezzlement by a federal agency. more detail
Mikhelson to Develop Property in Petersburg
Leonid Mikhelson, the billionaire co-owner of gas giant Novatek, appears to be taking up property development in St. Petersburg after one of his companies purchased 144 hectares along the coast of the Gulf of Finland. more detail
St. Pete Supports Gazprom Skyscraper
The Okhta Center, a 400-meter skyscraper to be built by Gazprom Neft in St. Petersburg, was approved by the city’s commission on construction, Deputy Governor Roman Filimonov said. more detail
Alfa Bank and Mirax Agree on Debt Deal
Alfa Bank and Mirax Group have agreed on a debt restructuring, under which the lender will forgive $80 million of the developer’s obligations and still manage to come out earning an annual 120 percent on the deal. more detail
VTB Obtains Controlling Stake in Don-Stroi Invest
VTB obtained the rights to a controlling stake in a unit of developer Don-Stroi and will restructure its debts, the bank said Wednesday. more detail
Sberbank to Sell Foreclosed Real Estate
NIZHNY NOVGOROD — Sberbank will complete and sell real estate projects after foreclosure, deputy chief executive Yevgeny Korolyov said Thursday. more detail