Construction market in Russia and Eastern Europe

PIK Group ends 2011 with revenues of RUB 52bn

Tue, 31 Jan 2012 00:00:00 +0100

There was a 30.5% increase in the revenues of the Russian developer the PIK Group in 2011 – in comparison with 2010 – to RUB 52.1bn (€1.3bn). Of this, sales of residential ...

BazelCement demontrates 56% production growth in 2011

Mon, 23 Jan 2012 00:00:00 +0100

BazelCement Group, Russian cement producer, has said it produced 1.3 million tonnes of cement in 2011, which is 56% more than in 2010, according to arendator.ru. The major share ...

Smart Finans Group acquires National hotel in Moscow

Mon, 23 Jan 2012 00:00:00 +0100

The Smart Finans Group, which is controlled by the Russian businessman Sait-Salam Gutseriev, has prevailed in the auction for the National hotel in Moscow and has also received permission ...

MCG may loose Eurasia tower

Fri, 20 Jan 2012 00:00:00 +0100

Demoginet Limited of Cyprus and allegedly affiliated with Nafta Moscow, has won a lawsuit against the company Tekhnoservis – a subsidiary of the developer MoscowCityGroup ...

Supreme Court approves controversial delisting of St. Petersburg architectural monuments

Thu, 19 Jan 2012 00:00:00 +0100

The Russian Supreme Court ruled that the St. Petersburg authorities were acting in accordance with the law when they de-listed 38 architectural monuments from the protection list ...

Kama river bridge construction may begin mid-2012

Wed, 18 Jan 2012 00:00:00 +0100

The President of the Republic of Udmurtia, Aleksandr Volkov, has said that construction of a bridge over the Kama river might begin in summer 2012, according to vira.ru. The bridge ...

SibirEnergoTrade to build residential housing in Irkutsk Province

Wed, 18 Jan 2012 00:00:00 +0100

SibirEnergoTrade has won three land plots in Irkutsk Province at an auction organised by the Russian Residential Construction Development Support Fund (RZhS). The plots, taking ...

Novaport consolidates 89% of Astrakhan airport

Mon, 09 Jan 2012 00:00:00 +0100

The Novaport Holding has won an auction for a 51% stake in Astrakhan airport. The stake was bought at a starting price of RUB 217m (€5.2m). The company already owned 38% of the ...

Russian construction sector employment up 7% in 2011

Wed, 04 Jan 2012 00:00:00 +0100

The number of people employed in the construction sector in Russia grew by 7% year on year, which translates into a growth by 198,000 people, in 2011, the Minister of Regional Development, ...

Hals Development takes control of the only joint development with French Apsys

Tue, 03 Jan 2012 00:00:00 +0100

Russia's Federal Antimonopoly Committee (FAS) has approved the acquisition of 50% of Hals-Invest Development, part of developer Hals Development, by Sapidus Holdings from System Apsys ...

Renova reduces planned Sochi hotel complex investment

Tue, 03 Jan 2012 00:00:00 +0100

Renova-Stroygroup, part of the Renova investment holding, has disclosed that it will invest $500m (€384.2m) in the construction of a multifunctional hotel complex in Imeretinskaya ...

Flexible roof tile plant to appear in Ryazan Province

Thu, 29 Dec 2011 00:00:00 +0100

The company TechnoNICOL is to build its second flexible roof tile plant in Ryazan Province. The plant will have an annual capacity of 30 million m2 and the investment will amount to ...

OPIN to begin high rise residential construction

Thu, 29 Dec 2011 00:00:00 +0100

The developer Open Investments (OPIN, Otkrytyye Investitsii) is to enter the high rise residential housing segment, which is quite a novelty against its previous project portfolio. ...

Russia witnesses one of the highest real-estate-price declines globally

Thu, 22 Dec 2011 00:00:00 +0100

Russia has reported one of the highest falls in prices for residential housing during Q3 2010-Q3 2011 out of 51 countries researched by Knight Frank consultancy. Russia hit near bottom ...

Last land plot in Moscow City sold

Fri, 16 Dec 2011 00:00:00 +0100

The company Grand Titul, controlled by the local businessmen God Nissanov and Zarakh Iliev (owners of the Evropeysky shopping centre in Moscow), has acquired the land plot number ...