Real Estate News

Ex-Mayor's Wife to Lose Land to Moscow Government

  • October 06, 2014
The Moscow city's government's plans for massive metro expansion will affect at least one high profile person Yelena Baturina, billionaire and wife of former Mayor Yury Luzhkov.

City Hall Delays Tender for 'Golden Island' Overlooking Kremlin

  • October 06, 2014
An upcoming tender to sell the rights to three hectares of land overlooking the Kremlin has been postponed again, this time until Nov. 11, Moscow's competition policy department said in a statement.

Russia's Sanctions-Chilled Real Estate Market Showing Signs of Life

  • October 06, 2014
Despite a tightening of Western sanctions and a stuttering economy, investment in Russian real estate grew in the third quarter of the year, and the share of foreign capital channeled into development projects increased.

Moscow City to Sell Half Its Movie Theaters

  • October 06, 2014
Moscow's municipal government is auctioning off 39 of its 78 movie theaters next month in order to build new "attraction centers," multifunctional complexes for nearby residents, according to a press release issued by Moscow's competition policy department.

Prices Fall as Moscow Real Estate Market Stagnates

  • October 06, 2014
Moscow's residential real estate market has not experienced its typical September revival, as discriminating buyers hold out for better prices in the future, Vedomosti reported.

Moscow Rejigs Construction Schedule for Second Metro Ring

  • October 06, 2014
The first section of Moscow metro's second ring line will be fully operational in 2016, and the entire 58-kilometer circle will be opened by the end of the decade, the city's mayor said Monday.

Moscow Government Makes Foray Into Residential Real Estate

  • September 29, 2014
The Moscow city government has begun to build and sell residential real estate, seemingly returning to policies initiated under controversial former Mayor Yury Luzhkov, a news report said.

Russian Parliament Approves Property Tax Hike

  • September 29, 2014
Russia's lower house of parliament has approved a bill raising taxes for the average Russian property owner by up to three times and allowing regional governments to hike them up even more.

Soviet-Era Arktika Hotel Reflects Murmansk's Turbulent History

  • September 29, 2014
Avisit toMurmansk will have you traveling onthe world's northernmost trolleybus anddigging intothe world's northernmost Big Mac. But the 'Arktika' is more than just the Arctic's tallest building.

Putin Ally Timchenko to Build 2018 World Cup Stadiums

  • September 29, 2014
After threatening to withdraw from the projects, billionaire Gennady Timchenko's construction company Stroitransgaz has agreed to build two stadiums for the 2018 FIFA World Cup, a company spokesman told Vedomosti on Monday.

Crimea to Sell Ukrainian Billionaire's Assets in 6 Months

  • September 29, 2014
After appropriating the Crimean assets of Ukrainian billionaire Ihor Kolomoyskyi, the region's authorities are now determined to auction them off within just six months' time, RIA Novosti cited the region's leader Sergei Aksyonov as saying.

Regions May Get Right to Hike Property Tax Threefold

  • September 22, 2014
Regional authorities may get the right to raise property taxes on their territory to triple the national norm, when the tax system completes stops pegging rates to inventory values and switches to cadastral values, business daily Vedomosti reported.

Western Sanctions Destroy Plans for International Financial Center in Moscow

  • September 22, 2014
The Russian government has dropped plans to build an international financial center just outside Moscow once meant to mark Russia's emergence as a hub for global capital.

Crate & Barrel Opens First Store in Russia

  • September 22, 2014
High-end U.S. furniture and interior decoration store Crate & Barrel opened its first Russian location last week, amid a sharp economic slowdown and a trade war between Moscow and the West over Ukraine.

IKEA Plans $2.5Bln Expansion Across Russia

  • September 22, 2014
Swedish retailer IKEA plans to break out of a period of consolidation and invest 2 billion euros ($2.5 billion) through 2020 on expanding its network of shopping malls across Russia regions, business daily Vedomosti reported last week.

Orthodox Church, Metro: Real Estate in Brief

  • September 15, 2014
Cambodia to Get Russian Orthodox Church; Baumanskaya Metro to Close for Restoration on Jan 1.

Crimea Seeks Billions From Moscow to Aid Investment Projects

  • September 15, 2014
The government of Crimea wants 79 billion rubles ($2.1 billion) from Moscow for 28 new investment projects to revitalize its economy, struggling from years of underinvestment and its split from Ukraine this spring, Izvestia reported Monday.

Yevraziya Sushi Chain Quits Moscow as Food Import Ban Bites

  • September 15, 2014
Sushi chain Yevraziya has sold all 15 of its Moscow restaurants and closed 10 of its branches in St. Petersburg, as it struggles to cope with an economic slump and ballooning fish prices, business daily Vedomosti reported Monday.

Chinese Builders Offer to Supply Russia With Affordable Housing

  • September 15, 2014
Chinese construction companies are ready to help Russia boost its stock of affordable housing if domestic builders cannot rise to the task, Deputy Housing Minister Alexander Plutnik said after a meeting of a new Russia-China investment commission.

'Muslim City' Project, Inteko Construction Firm: Real Estate in Brief

  • September 08, 2014
The spiritual administration of Muslims of the republic of Bashkortostan has started work on a real estate development project called Muslim City in the regional capital of Ufa, daily newspaper Kommersant reported.