RTM Properties Worth Nearly $1Bln

Real estate firm RTM saw the market value of its properties portfolio grow to $983.4 million as of June 30 from $790.2 million at the end of 2007, general director Vladimir Kireyenko said Friday.

"The value of properties rose 24 percent due to the market growth and progress in construction of some of our projects," Kireyenko said in a telephone interview.

"Besides, the company consolidated 100 percent of ReMa Immobilien and took full ownership of its 18 properties in Moscow. We also completed a project in Kursk and completed and leased an office building in Moscow," he added.

RTM focuses on the development of commercial property in Russia. Its portfolio includes 56 commercial real estate properties with a total area of 558,519 square meters, including 376,154 square meters of space to be leased.

The estimate was made by Colliers International.