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OPIN to begin high rise residential construction


2011-12-29



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. In 2012 it will launch the construction of a 220,000-m2 residential complex near the Kievskoye Highway and town of Aprelevka and a 50,000-m2 complex in the Krasnogorsky district in Moscow Province. The total investment in both projects will amount to $450m (€311m).

OPIN was set up in 2002. The company specialises at the construction of office and shopping centres and low rise countryside housing. A share of 72% is controlled by the Onexim Group investment fund and affiliated entities, the remaining capital is free floating. OPIN's revenue for six months of 2011 amounted to €81m.

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