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On 24th June, the act of State Commission on putting into operation the first line of the administrative and residential complex «Tengiz Towers» was signed. Two towers of the residential complex and office and administration buildings form the first line of «Tengiz Towers». Works on the development and landscape gardening of the surrounding area are conducted at the moment. At the 8th spot, preparation for the roof construction and works related to the ventilated façade are conducted. Also, laying of the dividing walls, enclosing structures and installation of the stained glass windows is completed. The monolithic works on the 9th spot were finished at the level +3,3. |
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Moscow April 16, 2009 – IMG’s Russia Development Fund today announced that it has acquired a 30 percent stake in Kvartstroy Company. Kvartstroy, based in Moscow, is one of the leading real estate development companies focusing on the Russian regions and Kazakhstan. The Russia Development Fund made this investment through an acquisition of newly issued shares of the Company. The Russia Development Fund which was launched in May 2008 and made its first investment in the St Petersburg based developer Okhta Group in February 2008, has just completed its capital raising. EBRD, Immoeast AG, and Aberdeen Indirect Property Partners II are the major investors in the Fund. Commenting on the transaction, Maksim Kunin, Managing Partner of IMG, said “IMG partners have a proven track record of identifying and executing investment opportunities in Russia. The investment in Kvartstory is the 8th transaction of this kind in Russia completed by IMG team members. We are focusing on creating investment value by pursuing attractive opportunities in the falling market rather than trying to identify its bottom.” |
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