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

UN Warns on Tower Ahead of St. Pete Debate
The United Nations on Friday renewed its warning that St. Petersburg was jeopardizing its status as a World Heritage site, ahead of final public hearings on Gazprom Neft’s plans to build a 400-meter skyscraper visible from within the historic center. more detail

IKEA Reaches Deal On Samara Outlet
IKEA reached an agreement with the government on the completion of its mall in the Samara region, allowing the Swedish retailer to open the complex almost two years after construction was finished, the Economic Development Ministry said Thursday. more detail

Banks Loom Large at Moskva-City
Sberbank and VTB own or hold mortgages on nearly every building going up in the Moskva-City business district, an unexpected outcome of the financial crisis that has forced the state banks to add the risky portfolio of real estate to their traditional business of lending. more detail

Kopeika to Get Loan For $65M
Kopeika is holding talks with Sberbank on a 2 billion ruble ($65 million) loan that would help the food retailer refinance 4 billion rubles of bonds, a source close to the bank said. more detail

Ruble Mortgages Drop 82% in June
New ruble-denominated mortgage loans approved last month dropped 82 percent while loans in foreign currencies plummeted 91 percent as high borrowing costs and lower incomes damped demand, the Central Bank said Tuesday. more detail

Real Estate Prices Fall to 2007 Low
Moscow real estate prices continued a seemingly inexorable decline in July, breaking through the psychologically important level of $4,000 per square meter last week and continuing to sink lower, according to data compiled by a leading analytical company. more detail

City Creates Company to Consolidate Land Buys
City Hall has established a company to purchase Moscow land that is under development, officials said Monday, and its first project will be on a plot recently sold by Inteko to pay down debt. more detail

State Railways to Offer Retail Space in Stations
Russian Railways will offer retail chains an opportunity to rent space at 180 train stations throughout the country, RZD executive Sergei Abramov said Monday. more detail