Real Estate News

Austria's Immofinanz Plans More Investment in Russian Real Estate

  • August 04, 2014
Austrian property group Immofinanz has not given up on Russia — its single biggest market — despite Moscow's role in the Ukrainian political crisis that has triggered European sanctions, chief executive Eduard Zehetner said.

City Hall to Create 'Mega Park' in Northeast Moscow

  • July 28, 2014
Three of northeast Moscow's most popular recreation spots will be merged to form the largest park in the city, Mayor Sergei Sobyanin said Monday in a statement on the city government's website.

Luzhniki Stadium Renovation to Cost $537 Million

  • July 28, 2014
The reconstruction of Moscow's Luzhniki Stadium, the venue for the 2018 FIFA World Cup's opening ceremony and football final, will cost more than 19 billion rubles ($540 million), the head of Moscow's city construction department told RIA Novosti.

Chinese Investors Propose Underwater Tunnel to Crimea

  • July 28, 2014
Instead of the bridge that was expected, Chinese investors have proposed building a high-tech underwater tunnel under the Kerch Strait to Crimea, the region's Deputy Prime Minister Yevgeniya Bavykina told news agency Kryminform.

Moscow-City, Kerch Bridge, Vnukovo Ц Real Estate in Brief

  • July 28, 2014
Moscow-City To Get 2 New Skyscrapers; Gref Plugs Mostovik to Build Kerch Bridge; Usmanov Eyes Vnukovo Airport.

250 Doomed 1950's Apartment Blocks Remain

  • July 21, 2014
A 15-year-old plan to flatten more than 1,500 of Moscow's five-story apartment blocks is edging toward the finishing line, with only about 250 of the doomed buildings still waiting for the wrecking ball to put them out of their misery, Mayor Sergei Sobyanin said, RIA Novosti reported Monday.

$48 Billion Needed to Resolve Housing Issues

  • July 21, 2014
Russia needs to spend 1.7 trillion rubles ($48 billion) on demolishing derelict housing and resettling the citizens now living there, according to Sergei Stepashin, head of the supervisory board of the Housing and Utilities Reform Fund.

VEB Sells Prime Moscow Complex

  • July 21, 2014
State development bank Vneshekonombank, or VEB, is selling its stake in joint stock company Novinsky Bulvar, 31, and with it one of the largest elite shopping complexes in central Moscow Ч Novinsky Passage.

Russia Divvying Up Crimean Resorts After Annexation

  • July 21, 2014
The government has started divvying up state-owned Crimean health retreats among Russian agencies and companies, though many of them are in no fit state to receive guests, Kommersant reported Monday.

Billionaire to Open $500 Million Russian History Theme Park

  • July 21, 2014
Russian billionaire Konstantin Malofeyev has signed an agreement with a French theme park company to build Russia's first historically themed amusement park with investments totaling up to 18 billion rubles ($512 million), Vedomosti reported Monday.

Moscow Region Looks to Hire 'Cheap' Crimean Builders

  • July 14, 2014
The Moscow region authorities could take advantage of a new source of cheap labor within Russia by hiring Crimeans to undertake state construction projects, RIA Novosti reported, citing a regional official.

New Shopping Space Hits 5-Year High in Moscow

  • July 14, 2014
Regardless of economic and political turbulence, 2014 stands to be a record-setting year for shopping centers in their conquest of Moscow and the surrounding regions, reports released Monday showed.

Moscow Paid Parking Zone to Expand in August

  • July 14, 2014
Moscow's transport department will add another 153 streets to the city's paid parking zone on Aug. 1, according to a departmental order published online.

Russians 9th for U.S. Real Estate Purchases

  • July 14, 2014
Russian homebuyers ranked ninth on the list of foreign citizens who followed the American dream to its most physical conclusion and purchased real estate in the U.S. in 2013, a recent study found.

Planet Hospitality to Sink $100 Million Into Accommodation for World Cup

  • July 14, 2014
Holding company Planet Hospitality has launched a $300 million project to establish hotel and motel chains in Russia capable of rooming more than 14,000 visitors by 2018, the year the country hosts the FIFA World Cup.

Russia Struggling to Pay for Kerch Bridge to Crimea

  • July 14, 2014
The government is facing a critical choice in its increasingly expensive plans to build the first direct road connection between Russia and Crimea via a bridge over the Kerch Strait.

Chinese Contractors to Spur Competition in Russia, Medvedev Says

  • July 07, 2014
The Russian government will turn to Chinese builders in the drive to provide affordable housing for the masses, Prime Minister Dmitry Medvedev said at a meeting with officials from the Construction, Housing and Utilities Ministry.

Monte Carlo Company Ready to Build $163M Bridge to Zenit Arena

  • July 07, 2014
Monte Carlo-based construction company Scp Basillique has agreed in principle to build a bridge providing an alternative pedestrian and cycling route to the Zenit St. Petersburg football club's new stadium, a venue for the 2018 FIFA World Cup.

Putin Approves Sochi Facilities Swaps

  • June 30, 2014
President Vladimir Putin has signed a law enabling private companies to swap facilities built for the Sochi Winter Olympics for government property, an option likely to be appeal to Russian Railways among others.

Chinese Firm to Build $300 Million Complex in Nizhny Novgorod

  • June 30, 2014
Moscow-based property development company Korston Group has come to a provisional agreement with a Chinese construction firm to build a 250,000 cubic meter multipurpose complex in Nizhny Novgorod at a cost of more than $300 million, Vedomosti reported.