Real Estate News

VEB Finally Sells Luxury Moscow Novinsky Passage Mall

  • September 08, 2014
State-owned Vneshekonombank, or VEB, has finally sold the Novinsky Passage luxury shopping center in Moscow to Mikhail Gutseriyev, founder of oil company Russneft, and his brother Sait-Salam for 13.5 billion rubles ($363 million), business daily Vedomosti reported, citing a source close to the entrepreneur siblings.

Footballer Arshavin Fights to Save Neighbors' Homes in St. Petersburg

  • September 08, 2014
In an apparent show of community spirit, former Arsenal Football Club forward Andrei Arshavin has taken up the cause of his next-door neighbors in St. Petersburg by asking the city's governor to stop their homes being leveled, business daily Vedomosti reported.

Consumers Stay Away From Moscow's Malls as Sanctions Deepen Russia's Slump

  • September 08, 2014
Nearly 25 percent fewer people visited Moscow's malls in the week leading up the start of the school year than in the same period of 2013, a survey said, indicating that Western sanctions and an economic slowdown are hitting Russian consumer demand.

Apartment Owners Must Register Guests After 90 Days

  • September 01, 2014
If you stay at a friend or relative's apartment in Russia for more than 90 days, the owner of the property will have to report your presence to the Federal Migration Service, news agency RIA Novosti reported.

Construction, Food City, Parking: Real Estate in Brief

  • September 01, 2014
Thirty percent more residential property and 17.5 percent more commercial real estate were built in Russia during the first three months of 2014 compared to the same period last year, according to a report by InfoLine information agency.

Building Begins on Moscow's Vast New Ring Road

  • September 01, 2014
Construction of a vast new 530-kilometer ring road encircling Moscow has begun.

Russia's Houses of Parliament Set for Long-Awaited Move

  • September 01, 2014
In a move aimed at easing central Moscow's nightmarish traffic congestion, Russia's two houses of parliament will be relocated to a new hub slated to be built in northwest Moscow, news agency RIA Novosti quoted a spokeswoman for the lower house's speaker, Sergei Naryshkin, as saying.

Anti-Monopoly Service Fights Atak's Expansion in Moscow Region

  • August 25, 2014
No-frills food retailer Atac, a subsidiary of supermarket giant Auchan, may soon see its rapid expansion in the Moscow region blocked by the regional branch of Russia's Anti-Monopoly Service.

Crimean Property, Rosneft Ц Real Estate in Brief

  • August 25, 2014
Ukraine to Sue for Crimean Property; Rosneft Seeks Designer for New $800Mln Headquarters.

Hines Nears $500 Million Deal on Metropolis Offices, Report Says

  • August 25, 2014
U.S. investment firm Hines is poised to purchase two office buildings in Moscow's Metropolis complex from private equity firm Capital Brothers for an estimated $500 million, Vedomosti reported, citing consultants close to the two parties.

Saransk Plans 'Portable Hotel' to Cope With 2018 World Cup Tourists

  • August 25, 2014
FIFA World Cup organizers in Saransk, 630 kilometers east of Moscow, have signed a preliminary deal with Britain's Snoozebox company to build a temporary "portable hotel" in the city during the 2018 tournament, the regional government's investment department told Interfax.

World Cup Stadium's Cost in Nizhny Novogorod Rises After Billionaire Demands More Cash

  • August 25, 2014
The price tag for the 2018 FIFA World Cup venue in Nizhny Novgorod has been raised by 2 billion rubles ($55 million) after Gennady Timchenko, the sanctioned billionaire owner of the company set to build the stadium, demanded that the government revise its initial estimates.

Ramenskoye Military Airfield to Become Moscow's 4th International Airport

  • August 18, 2014
Ramenskoye airfield in Moscow's southwest suburbs is set to be transformed within two years into Moscow's fourth international passenger airport.

City Hall Plans Vast Hotel-Business Complex Near Moscow-City

  • August 18, 2014
Deputy Mayor Marat Khusnullin has announced plans for a huge hotel and business complex near the Moscow-City business district in central Moscow.

Moscow's Ostankino Estate Set for $1.8 Million Renovation

  • August 18, 2014
City Hall has put out a tender for the renovation of 18th-century Ostankino Estate, a grand mansion in the north of the capital, Moscow's competition policy department said Monday in an online statement.

Russian Tycoon Brings Luxury to Dagestani Mountains

  • August 18, 2014
Russian tycoon Ziyavudin Magomedov's Summa Group plans to invest 200 million euros ($267 million) in a luxury tourism complex in Russia's restive Dagestan region, Kommersant reported Monday.

Crisis and New Supply Empty High-Class Moscow Offices

  • August 11, 2014
Vacancy rates in Class A and B business centers in Moscow hit 25 percent in the first half of this year, a level not seen since the economic crisis of 2009, according to a recent report by real estate consultancy S.A. Ricci.

Russians Arrive on South Africa's Luxury Real Estate Market

  • August 11, 2014
Nestled incongruously in the hill overlooking a sheltered cove, dusted with white sands and lined on three sides by mountain peaks, looms a 20th-century castle.

California Homes, Camp Artek, Mosinzhstroi Ц Real Estate in Brief

  • August 04, 2014
Senator Suspects Lesin's California Homes, State Invests $587 Million in Camp Artek, Mosinzhstroi Declared Bankrupt.

Billionaire Demands More Money for World Cup Stadium Projects

  • August 04, 2014
As Russia's preparations for the 2018 FIFA World Cup kick into gear, the fate of the planned football stadiums in Volgograd and Nizhny Novgorod has come into question after the billionaire owner of the company set to build the venues threatened to pull out unless the government commits more funds.