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Real Estate

Real Estate News
Vladimir Kozlov

Prokhorov wants to build concert hall and night club

Billionaire Mikhail Prokhorov, head of Onexim group, is to take part in the Moscow government’s tender for the development in the Moskva City international business center, the business daily Kommersant reported. According to the report, Prokhorov is proposing to biuld what would be one of Moscow’s largest night clubs and a movie and concert hall. The city hall plans to hold a tender for the development of plot No. 6 in the central part of Moskva City by the end of the summer. The idea of the tender was first mentioned about a year ago, and back then Prokhorov was rumored to be the most likely winner. Prokhorov told Kommersant that the plan is to build a multi-use building that would accommodate about 2,000 people at its fitness-centre, night-club and movie/concert- hall facilities. “That would be my personal project,” he added. The construction of the building is estimated at $60 million, the cost of equipment not included.

Sobyanin cancels waste-processor plans

Moscow’s mayor Sergei Sobyanin has signed a decree that cancels an earlier decision by his predecessor Yuri Luzhkov to build a waste processing plant in the city’s eastern part, RIA Novosti reported, quoting a source in the city hall. The plant was supposed to process primarily construction waste. The reasons for canceling the project were not explained.

St Petersburg developer launches major project in Moscow

The St Petersburg-based developer Etalon Group plans to build 220,000 sq. meters of residential property in Moscow, which would be the first big project of this kind by an out-of-town developer in years, the business daily Vedomosti reported. The 10.3 hectare plot, on which the construction is planned, is located in the city’s northern part, between Yakhromsky Proyezd and Dmitrovskoye Shosse. Etalon expects to begin construction in 2012 and is currently waiting for applicable permits from the city hall. The company is hopeful about permission to carry out construction projects in the city as it is already involved in two smaller projects in Moscow. The new Moscow government is reportedly trying to simplify the procedure of issuing construction permits, but because of a transitional period from previous to current authorities, it is taking a while. That is often cited as the reason why major new projects haven’t been announced for several months.

Khrushchevkas replacement program to be completed by 2014

The program for demolition of poorquality five-story apartment blocks built in the late 1950s and early 1960s and dubbed “Khrushchevkas” after the then communist leader Nikita Khrushchev, is to be completed by 2014, as earlier planned, Sergei Levkin, head of the city hall’s department for urban development policies told RIA Novosti. According to Levkin, out of 1,772 buildings slated for demolition under the program launched by the city’s previous mayor Yuri Luzhkov in the late 1990s, only 413 are left to be torn down. “In the first half of the year, 33 buildings were supposed to be torn down, and by the end of the year, we are planning to demolish 79 five-story buildings,” he said, adding that plots of land freed as a result would become the main sites for city construction in 2012 to 2016. Levkin explained that under the previous city government, the program was carried out chaotically, not taking into account a stipulation that all residents of buildings to be demolished should be moved to new buildings within the same neighbourhood. “Both the investors and the city, which didn’t timely step in to control the process, are to be blamed,” he concluded.

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