Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Inkom Brand Taps Elite Segment

Inkom real estate company has announced plans to build 670 elite-class homes at the Millennium settlement in western Moscow, Kommersant reported Thursday.

The settlement, which will see investments of $700 million, will be situated on an area of 280 hectares, the newspaper said. The 400-square-meter houses will sell for upward of $1.5 million each. The settlement will be completed by 2010 and is being overseen by Villagio Estate, a subsidiary brand officially launched by Inkom on Friday as a high-end real estate developer.

In addition to the Millennium complex, Villagio Estate is also developing the Sherwood, Greenfield and Lazurny Bereg settlements.

A $3 million Internet, press and billboard advertising campaign to raise Villagio Estate's profile will begin this month.